Answered step by step
Verified Expert Solution
Question
1 Approved Answer
a and b please 1.5% 5.4% Widmer Company had gross wages of $159,000 during the week ended June 17. The amount of wages subject to
a and b please
1.5% 5.4% Widmer Company had gross wages of $159,000 during the week ended June 17. The amount of wages subject to social security tax was $143,100, while the amount of wages subject to federal and state unemployment taxes was $20,000. Tax rates are as follows: Social security 6.0% Medicare State unemployment Federal unemployment 0.8% The total amount withheld from employee wages for federal taxes was $31,800. If an amount box does not require an entry, leave it blank. If required, round answers to two decimal places, a. Journalize the entry to record the payroll for the week of June 17. June 7 Wages Expense Social Security Tax Payable Medicare lax Payable Employees Federal Income Tax Payable Wages Payable 159,000 b. Journalize the entry to record the payroll tax expense incurred for the week of June 17. June ? Payroll Tax Expense Social Security Yox Payable Medicare tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable Previous Next Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started