Accouting #6

eBook Show Me How Printem Payroll Entries Widmer Company had gross wages of $200,000 during the week ended June 17. The amount of wages subject to social security tax was $187,200, while the amount of wages subject to federal and state unemployment taxes was $25,000. Tax rates are as follows: Social security 6.09 Medicare 1.596 State unemployment 5.494 Federal unemployment 0.8% The total amount withheld from employee wages for federal taxes was $41,600 If an amount box does not require an entry, leave it blank. It required, round answers to two decimal places a. Journalize the entry to record the payroll for the week of June 17 June > Wages Expense Ti Social Security Tax Payable 12.450 x Medicare Tax Payable 2.0 x Employees Federal Income Tax Payable Wages Payable Feedback Check My Work Gross pay is the amount that employees have earned before taxes and deductions. A portion of employees' earnings are owed for such items as state and federal taxes. Net pay is also known as take-home pay. b. Journalize the entry to record the payroll tax expense Incurred for the week of June 17, June 7 Payroll Tax Expense Social Security Tax Payable Medicare Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable Check My Work