The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries ...........................................
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The payroll register for Gamble Company for the week ended April 29 indicated the following:
Salaries ........................................... $1,250,000
Social security tax withheld ........................ 75,000
Medicare tax withheld ............................... 18,750
Federal income tax withheld ...................... 250,000
In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and
0.6%, respectively, on $225,000 of salaries.
a. Journalize the entry to record the payroll for the week of April 29.
b. Journalize the entry to record the payroll tax expense incurred for the week of April 29.
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Related Book For
Accounting
ISBN: 978-1337899451
27th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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