Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Gross pay for Mr.Scott Corporation for Febuary 26,2021 is as follows: Salaries salaries $338,000 Office salaries $148,000 Maintenance salaries $95,000 ---------- Total Salaries: $581,000 Information

Gross pay for Mr.Scott Corporation for Febuary 26,2021 is as follows:
Salaries salaries $338,000
Office salaries $148,000
Maintenance salaries $95,000
----------
Total Salaries: $581,000
Information on Withholding and payroll taxes are shown below
Federal income tax withheld $72,265
State income tax withheld $17,100
Health Insurance withheld $8200
Pension contributions withheld $25,125
FICA Rate is 7 65%
SUTA taxes are $9.800
FUTA taxes are $2,215
How much is payroll tax expense for Mr. Scott Corp?_______________
Then write the journal entry:
image text in transcribed
Journal Entries

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Practical Manual For Auditors

Authors: Lawrence Robert Dicksee

1st Edition

1360462546, 978-1360462547

More Books

Students also viewed these Accounting questions

Question

How is new technology impacting the TV industry?

Answered: 1 week ago