Payroll Tax Entries According to a summary of the payroll of Guthrie Co., $608,000 was subject to the 6.0% social security tax and $748,000 was subject to the 1.5% Medicare tax. Also, $20,000 was subject to state and federal unemployment taxes. a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 4.2%; federal unemployment, 0.6%. Feedback Check My Work 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

According to a summary of the payroll of Guthrie Co., $608,000 was subject to the 6.0% social security tax and $748,000 was subject to the 1.5% Medicare tax. Also, 520,000 was subject to state and federal unemployment taxes. a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 4.2%; federal unemployment, 0.6%. Feedbeck Remember that there is typically a mavimum amount of eamings subject to state and federal unemployment taxes b. Journolize the entry to record the accruel of payroll taxes. If an amount vex does not require an entry, leave it blank