need help with no.2 the amount is 474.55
what would be the journal entry and the ledger posting
thanks
7-25) as follows 58 32 224.12 2291 175% FICA Tanes Payable-Hl FUTA Taxes Payable SUTA Taars Payable Employer Payroll Taxes was debited for the sum of the employer's FICA, FUTA, and SUTA taxes. The taxable earnings used in computing each of these payroll taxes were obtained from the appropriate column totals of the payroll registet. Note that only part of Ford's wages are taxable ($700 out of $1,220 gross pay) for FUTA ($7,000 limit). The computation of the debit to Payroll Taxes was: UTA: SUTA: FICA Taxes Payable-OASDI was credited for $958.32, the amount of the lia- bility for the employer's portion of the tax. FICA Taxes Payable-HI was cred ited for $224.12, the amount of the liability for the employer's share of this tax. FUTA Taxes Payable was credited for the amount of the tax on the employer for federal unemployment purposes ($22.91). SUTA Taxes Payable-Employer was credited for $175.76, which is the amount of the contribution required of the employer under the state unemployment compensation law The journal entries were posted to the proper ledger accounts (pages 7-34 to 7-41). October 15 This is the day on which the deposits of FICA and FIT taxes and the city of Phil- adelphia income taxes for the September payrolls are due. However, in order to concentrate on the fourth-quarter payrolls, we will assume that the deposits for the third quartee and the appropriate entries were already completed. October 20 No. 2 On this date, Glo-Brite Paint Company must deposit the Pennsylvania state income taxes withheld from the October 9 payroll The deposit rule states that if the employer expects the aggregate amount withheld each quarter to be $1,000 or more, the employer must pay the withheld tax semimonthly. The tax must be remitted within three banking days after the close of the semimonthly periods ending on the 15th and the last day of the month. Prepare the journal entry to record the deposit of the taxes, and post to the appropriate ledger accounts 2 Pennsylvania has eliminated the filing of paper forms (replaced by telefile or online filing). The information needed to telefile is listed on