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ignore the pencil : (1 point each, 20 points total) CH. 11 The Fairfax Company had gross wages of $200,000 during the week ended Dec
ignore the pencil
: (1 point each, 20 points total) CH. 11 The Fairfax Company had gross wages of $200,000 during the week ended Dec 10 . The amount of wages subject to Social Security Tax and Medicare Tax was $180,000 while the amount of wages subject to federal and state unemployment taxes was $24,000. Tax rates are as follows: Social Security, 6.0\%; Medicare, 1.5\%; State Unemployment, 5.3\%; Federal Unemployment, 0.8%; the amount withheld from employee wages for federal taxes was $32,000. a. Journalize the entry (account titles an $ amounts) to record the PAYROLL for the week of Dec 10: b. Journalize the entry to record (account titles 8.5 amounts) the PAYROLL tax expense_and payables incurred for the week of Dec 10 Step by Step Solution
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