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Entries for Payroll and The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.:
Entries for Payroll and The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Sales salaries Deductions: $320,000 Income tax withheld. $115,984 Warehouse salaries 176,000 Social security tax withheld 39,540 Office salaries 163,000 Medicare tax withheld 9,885 $659,000 Retirement savings 14,498 Group insurance 11,862 $191,769 Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.6% Required: If an amount box does not require an entry, leave it blank.
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