Buckeye has an annual payroll of 170 000 In addition the

Last updated: 9/22/2023

Buckeye has an annual payroll of 170 000 In addition the company incurs payroll tax expense of 9 of the annual payroll At December 31 Buckeye owes salaries of 7 800 and FICA and other payroll tax of 850 The company will pay these amounts early next year Requirement 1 Show what Buckeye will report for the foregoing on its income statement for the year and on its year end balance sheet If an input fiel is not used in the table leave the field empty do not select a label or enter a zero Start with the income statement Income Statement Account Amount