The following data are taken from Madison Distribution Company's March payroll:

Assume that the company is subject to a 5.2 percent state unemployment tax and an 0.6 percent federal unemployment tax.

Required 

Record the following in general journal form on March 31:

a. Accrual of the monthly payroll.

b. Payment of the net payroll.

c. Accrual of the employer's payroll taxes. (Assume that the FICA tax matches the amount withheld).

d. Payment of these payroll-related liabilities. (Assume that all are settled at the same time.)

Transcribed Image Text:

Administrative salaries. Sales salaries.. Custodial salaries.. Total payroll.... Salaries subject to 1.45 percent Medicare tax. Salaries subject to 6.2 percent Social Security tax Salaries subject to federal unemployment taxes. Salaries subject to state unemployment taxes.. Federal income taxes withheld from all salaries.. $34,000 58,000 8,000 $100,000 $100,000 100,000 66,000 76,000 18,600