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Payroll Entries The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries $601,000 Social security tax withheld 36,060 Medicare
Payroll Entries The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries $601,000 Social security tax withheld 36,060 Medicare tax withheld 9,015 Federal income tax withheld 120,200 In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.6%, respectively, on $11,000 of salaries. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Journalize the entry to record the payroll for the week of April 29. Salaries Expense 601,000 Social Security Tax Payable 36,060 Medicare Tax Payable 9,015 Employees Federal Income Tax Payable 120,200 Salaries Payable b. Journalize the entry to record the payroll tax expense incurred for the week of April 29. Payroll Tax Expense Social Security Tax Payable 36,060 Medicare Tax Payable 9,015 State Unemployment Tax Payable Federal Unemployment Tax Payable
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