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ann strand's regular hourly wage is $ 1 6 , and she receives an hourly rate of $ 2 4 for work in excess of

ann strand's regular hourly wage is $16, and she receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Betsy works 47 hours. Ann's federal income tax withholding is $85, and she had no voluntary deductions. assume that the fica tax rate is 7.65%. prepare the employer's journal entry to record payroll taxes for the period.the amount entered for the particular Asset, Liability or Equity item that was reduced.)
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