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Electronics Service Company pays salaries monthly on the last day of the month. The following information is available from Electronics for the month ended December
Electronics Service Company pays salaries monthly on the last day of the month. The following information is available from
Electronics for the month ended December Year
Assume the Social Security tax rate is percent on the first $ of salaries. Duke reached $ before September. His
salary in December amounted to $ and is included in the $ No one else will reach the $ amount for the year.
None of the employee salaries are subject to unemployment tax in December. Assume the Medicare tax rate is of total salaries.
Other amounts withheld from salaries in December were as follows:
Federal income tax
State income tax
Employee savings plan
$
Required
a Prepare the journal entry to record the payment of payroll on December Year
b Prepare the journal entry to record the payroll tax expense for Electronics Service Company for December Year
If no entry is required for a transactionevent select No journal entry required" in the first account field.
Journal entry worksheet
Record the entry for payment of payroll on December Year
Note: Enter debits before credits.
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