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Payroll entries Print Item The payroll register for D. Salah Company for the week ended May 18 indicated the following: Salaries Federal income tax
Payroll entries Print Item The payroll register for D. Salah Company for the week ended May 18 indicated the following: Salaries Federal income tax withheld $635,000 170,000 The salaries were all subject to the 6.0% social security tax and the 1.5% Medicare tax. In addition, state and federal unemployment taxes were computed at the rate of 5.4% and 0.8%, respectively, on $48,000 of salaries. Assume the company runs all paychecks through Salaries Payable. If an amount box does not require an entry, leave it blank. a. Journalize the entry to record the payroll for the week of May 18. May 18 Salaries Expense < Social Security Tax Payable Medicare Tax Payable Employees Federal Income Tax Payable Salaries Payable 635,000 b. Journalize the entry to record the payroll tax expense incurred for the week of May 18. May 18 Payroll Tax Expense Social Security Tax Payable Medicare Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable
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