Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Carla Vista Company has the following data for the weekly payroll ending January 31 Hours M W T F. S Health Insurance 8 Employee L.
Carla Vista Company has the following data for the weekly payroll ending January 31 Hours M W T F. S Health Insurance 8 Employee L. Helton R.Kenseth 0. Tavaras S 0000 10 8 Hourly Rate $14 12 Federal Income Tax Withholding $34 37 58 8 10 3 8 8 3 8 9 0 510 8 25 25 12 B 113 Employees are paid 1 times the regular hourly rate for all hours worked in excess of 40 hours per week FICA taxes are 7.65% (the 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128.400 and the Medicare tax rate of 1.45% on lisataries and wages) Carla Vista Company is subject to 5.4% state unemployment taxes and 0.6% federal unemployment taxes on the first $7.000 of gross earnings. Prepare the journal entry to record Carla Vista's payroll tax expense. Creditoccountities are automatically indented when mortis entered. Do not indentally Round answers to 2 decimal places, s. 1525 Date Account Titles and Explanation Debit Credit Jan 31 eTextbook and Media Sort Attempt of Jused S acer 1 O 0 4 $ A * w * $ 4 % 5 & 7 ) 0 6 8 9
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