The payroll register of Tri-State Construction Co. indicates ($ 25,650) of social security withheld and ($ 6,750)
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The payroll register of Tri-State Construction Co. indicates \(\$ 25,650\) of social security withheld and \(\$ 6,750\) of Medicare tax withheld on total salaries of \(\$ 450,000\) for the period. Assume earnings subject to state and federal unemployment compensation taxes are \(\$ 12,550\), 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.
objs. \(2,3,4\)
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Related Book For
Financial Accounting
ISBN: 9780324380675
10th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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