Mini-Exercise 7.2 – For the payroll period ended on June 25, 2013, gross pay was $14,300, net pay was $10,200, FICA tax withholdings were $1,000, income tax withholdings were $2,500, and medical insurance contributions were $600.

Required:

Use the horizontal model to show the effects of the payroll accrual on June 25, 2013. (Enter decreases to account balances with a minus sign.) 

Balance Sheet                                                              Income Statement

Assets = Liabilities + Stockholders’ Equity←Net income = Revenues – Expenses

______    ______     ________                        ______   ______     _________     

______    ______      _________                     ______  ______     __________

All of the answers are either (Wages payable +10,200, Wages payable -10,200, Wages expense +14,300, Wages expense -14,300, Withholding liabilities +4,100, Withholding liabilities +4,100)

Please help