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Payroll Entries Widmer Company had gross wages of $300,000 during the week ended June 17. The amount of wages subject to social security tax
Payroll Entries Widmer Company had gross wages of $300,000 during the week ended June 17. The amount of wages subject to social security tax was $270,000, while the amount of wages subject to federal and state unemployment taxes was $38,000. Tax rates are as follows: Social security Medicare State unemployment Federal unemployment 6.0% 1.5% 5.3% 0.8% The total amount withheld from employee wages for federal taxes was $60,000. If an amount box does not require an entry, leave it blank. a. Journalize the entry to record the payroll for the week of June 17. Cash X Wage Expense Fede Unemployment Tax Payable x State Unemployment Tax Expense Cash x
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