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Journalize Payroll Tax The payroll register of Shortman Co. indicates $3,240 of social security withheld and $810 of Medicare tax withheld on total salaries of
Journalize Payroll Tax
The payroll register of Shortman Co. indicates $3,240 of social security withheld and $810 of Medicare tax withheld on total salaries of $54,000 for the period. Earnings of $5,000 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.
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