On January 14, at the end of the second week of the year, the totals of Castle
Question:
a. Calculate the amount of Social Security and Medicare taxes to be withheld and write the general journal entry to record the payroll.
b. Write the general journal entry to record the employer’s payroll taxes assuming that the federal unemployment tax is 0.6 percent of the first $ 7,000, that the state unemployment tax is 5.4 percent of the same base, and that no employee has surpassed the $ 7,000 limit.
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Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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