Journalize payroll tax OBJ. 3 The payroll register of Longboat Co. indicates $5,400 of social security withheld
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Journalize payroll tax OBJ. 3 The payroll register of Longboat Co. indicates $5,400 of social security withheld and $1,350 of Medicare tax withheld on total salaries of $90,000 for the period. Earnings of $10,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8%
and the state rate of 5.4%.
Provide the journal entry to record the payroll tax expense for the period.
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Related Book For
Financial And Managerial Accounting
ISBN: 9781305267831,9781305267848
13th Edition
Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac
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