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Payroll Tax Entries According to a summary o the payroll of Gut ne Co $560 000 was subject to the 6.0% social security tax and
Payroll Tax Entries According to a summary o the payroll of Gut ne Co $560 000 was subject to the 6.0% social security tax and the 1 % Medicare tax. Also S50 000 was subject unemployment taxes a. Calculate the employer's payroll taxes, using the following rates: state unemployment 5.4% federal unemployment 06% state and ederal 75,600X Feedback ?Check My, Werk Remember that there is typically a maximum amount of earnings subject to state and federal unemployment taxes. b. Journalize the entry to record the accrual of payroll taxes. If an amount box does not require an entry, leave it blank. Payroll Tax Expense Social Security Tax Payable Medicare Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable
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