LO 7-3, 7-4 Using the employer payroll entry from P7-4B, post the employer’s share of payroll taxes for the March 10 pay period at Appalachian Limited Home Design to the appropriate General Ledger accounts. Employees are paid weekly. Assume a 5.4 percent SUTA rate and 0.6 percent FUTA rate, and assume that only $954.05 of the gross pay is subject to SUTA and FUTA taxes. Note: FUTA and SUTA taxes are only employer share.

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234 4 Balance Post Date Description Ref. Debit Credit Debit Credit 1 1 2 2 Account: Payroll Taxes Expense 23 4 5 6 7 Account: Social Security Tax Payable 10 5 6 7 345 Balance Post Date Description Ref. Debit Credit Debit Credit 1 1 2 2 34 5 6 7 6 7