Record payroll for the period ending April 18. Payroll: Sales Salaries 45,000 $ Office Salaries 10,000 Total
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Question:
Record payroll for the period ending April 18.
Payroll:
Sales Salaries 45,000 $
Office Salaries 10,000
Total payroll 55,000 $
Salaries subject to payroll taxes:
social security and Medicare 55,000 $
State and federal unemployment tax 18,000
Salaries subject to payroll taxes:
Social security tax 6.0% Medicare tax 1.5%
State unemployment compensation tax 5.4%
Federal uneployment compensation tax 0.8%
Employee deductions:
Federal income tax withholdings 4,400 $
State income tax withholdings 1,200
Retirement contributions 2,600
Charitable contributions 600
1) Record the journal entry for payroll
2) Record the journal entry to record payroll tax expense
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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