Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Journalize Period Payroll The payroll register of Patel Engineering Co. Indicates $900 of social security withheld and $225 of Medicare tax withheld on total salaries
Journalize Period Payroll The payroll register of Patel Engineering Co. Indicates $900 of social security withheld and $225 of Medicare tax withheld on total salaries of $15,000 for the period. Federal withholding for the period totaled $2,550. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank. Journalize Payroll Tax The payroll register of Patel Engineering Co. indicates $2,388 of social security withheld and $597.00 of Medicare tax withheld on total salaries of $39,800 for the period. Earnings of $12,300 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
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started