Mid Term CH 8 Journalizing Payroll Transactions On December 31, the payroll register of Hamstreet Associates...

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Mid Term CH 8 Journalizing Payroll Transactions On December 31, the payroll register of Hamstreet Associates indicated the following information: Wages and Salaries Expense $7,600.00 Employee Federal Income Tax Payable 830.00 United Way Contributions Payable 230.00 Earnings subject to Social Security tax 6,500.00 Use Social Security 6.2% and Medicare 1.45% as specified in the text. 1. Determine the amount of Social Security and Medicare taxes to be withheld. If required, round your answers to the nearest cent. Social Security Tax Medicare Tax 2. Record the journal entry for the payroll, crediting Cash for the net pay. DATE 20-- 1 Dec. 31 23 456 Page: ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 1 2 3 4 5 Mid Term CH 8 Journalizing Payroll Transactions On December 31, the payroll register of Hamstreet Associates indicated the following information: Wages and Salaries Expense $7,600.00 Employee Federal Income Tax Payable 830.00 United Way Contributions Payable 230.00 Earnings subject to Social Security tax 6,500.00 Use Social Security 6.2% and Medicare 1.45% as specified in the text. 1. Determine the amount of Social Security and Medicare taxes to be withheld. If required, round your answers to the nearest cent. Social Security Tax Medicare Tax 2. Record the journal entry for the payroll, crediting Cash for the net pay. DATE 20-- 1 Dec. 31 23 456 Page: ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 1 2 3 4 5