Journalize Payroll Tax

The payroll register of Chen Engineering Co. indicates $1,398 of social security withheld and $349.50 of Medicare tax withheld on total salaries of $23,300 for the period. Earnings of $7,200 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%.

Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal places.

The payroll register of Chen Engineering Co. indicates $1,398 of social security withheld and $349.50 of Medicare tax withheld on total salaries of $23,300 for the period. Earnings of $7,200 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal places. Feedback V Check My Work Remember that there is typically a maximum amount of earnings subject to state and federal unemployment taxes