The payroll register of Heritage Co. indicates $4,800 of social security withheld and $1,200 of Medicare tax
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The payroll register of Heritage Co. indicates $4,800 of social security withheld and $1,200 of Medicare tax withheld on total salaries of $80,000 for the period. Earnings of $14,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% and the state rate of 5.4%.
Journalize the entry to record the payroll tax expense for the period.
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Related Book For
Financial And Managerial Accounting
ISBN: 9780357714041
16th Edition
Authors: Carl S. Warren, Jefferson P. Jones, William Tayler
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