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I don't know how to get the payroll tax expense, state and federal ui. The poll try are based directly from the payroregister will recent
I don't know how to get the payroll tax expense, state and federal ui.
The poll try are based directly from the payroregister will recent There is the expense side of the entry and on the other side will be the were deducted from the employees' checks that are payable because they have not been ral journal entry to record the employer's payroll taxes. Assume rates of 0.6 percent for ent tax and 5.4 percent for state unemployment tax based on the first 57,000 for each ume that no employee has earned more than $7,000. If an amount box does not require an If required, round your intermediate calculations and final answers to the nearest cent and swers in subsequent computations. GENERAL JOURNAL DOC POST: DESCRIPTION DEBIT CREDIT NO. REF 1x Expense Toomed al Security Tax Payable 0 519.56 care Tax Payable 0 121.51 0 mployment Tax Payable nemployment Tax Payable mployer's share of FICA taxes and employer's state unemployment taxes. are an expense of doing business and are recorded in an expense account. This account mpany's portion of FICA taxes, and State and Federal Unemployment taxes. The Journal of an expense and abilities for each applicable account. Check My Work Go Systems had the following payroll data for wages for the week ended February 5. The state income tax is assumed to be 20% of the federal income tax. TAXABLE EARNINGS DEDUCTIONS ENDING FEDERAL STATE SOCIAL TOTAL SOCIAL MEDICARE CUMULATIVE UNEMPLOYMENT MEDICARE INCOME INCOME SECURITY EARNINGS SECURITY TAX EARNINGS TAX TAX TAX 8,380.00 28,860.00 8,380.00 8,380.00 8,380.00 1,257.00 251.00 519.56 121.51 Required: a. Prepare the general journal entry to record the payroll. If an amount box does not require an entry, leave it blank. If required, round your intermediate calculations and final answers to the nearest cent and use the > unded answers in subsequent computations. GENERAL JOURNAL DATE DESCRIPTION DOC. NO. POST. REF. DEBIT 20-- Feb. 5 Wages Expense 8,380 0 Employees' Federal Income Tax Payable 0 FICA Social Security Tax Payable 0 FICA Medicare Tax Payable 0 Employees' State Income Tax Payable 0 Wages Payable To record payroll for the week ended February 5. andhan
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