Journalize the employer's payroll tax expense for February 28. Notice that this journal entry is similar to the one on January 31. Use the February FICA amounts. Notice that Amy Hamilton reaches the $7,000 cap for the FUTA and SUTA taxes during this month. You will need to determine which earnings are taxable when calculating the FUTA and SUTA liabilities. Go ahead and journalize the transaction.

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To journalize the employers payroll tax expense for February 28 we need to calculate the FICA FUTA a... View the full answer