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LO Instructions Part A: Payment of the Wages, and the Payroll Taxes Part B: Payment of Wages Instrucions The journal entry to record the payroll
LO Instructions Part A: Payment of the Wages, and the Payroll Taxes Part B: Payment of Wages Instrucions The journal entry to record the payroll tax entry from Figure 6.1 on pages 6-2 and 6-3 would be assume a SUTA tax rate of 3.0%): Debit Credit Payroll Taxes 2,785.81 FICA Taxes Payable-OASDI 1,535.29 FICA Taxes Payable-HI 359.06 FUTA Taxes Payable 148.58 SUTA Taxes Payable 742.88 Vulcre, Inc., has a semimonthly payroll of $6 1900 on September 15, 20-- The total payroll is taxable under FICA Taxes-HI: 553,850 is taxable under FICA Taxes-OASDI; and $10,300 is taxable under FUTA and SUTA. The state contribution rate for the company is 4.1%. The amount withheld for federal income taxes is $9,911. The amount withheld for state income taxes is $1,410. eBook Show Me How Print Item instructions Part A: Payment of the Wages, and the Payroll Taxes Part B: Payment of Wages Part A Payment of the Wages, and the Payroll Taxes a. Journalize the payment of the wages, and record the payroll taxes on September 15 If an amount box does not require an entry, leave it blank. Round your answers to the nearest cen Account Debit Credit Payment of wages Wages Expense 67,000 FICA Taxes Payable-OASDI V 3,958.7 FICA Taxes Payable-HI 971.5 Employees FIT Payable 9,911 Employees SIT Payable 1,410 Cash 50,748.8 Instructions Part A: Payment of the Wages, and the Payroll Taxes Part B: Payment of Wages Part A: Payment of the Wages, and the Payroll Taxes Payroll taxes Payroll Taxes v FICA Taxes Payable-OASDI V 3,958.70 FICA Taxes Payable-HI V 971.5 FUTA Taxes Payable 618 X SUTA Taxes Payable 422.3 Feedbac Check My Work a. Debit Wages (Gross Pay); credit employee's taxes withheld and Cash (net pay). Debit payroll taxes (tota payroll taxes): Credit respective employer's payroll tax liabilities. Remember: Debits must equal credits! Feedba
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