Payroll Tax Entries

According to a summary of the payroll of Guthrie Co., $505,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $17,000 was subject to state and federal unemployment taxes.

Question Content Area

a. Compute the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.6%. $fill in the blank d0e5e204501df82_1

Question Content Area

b. Journalize the entry to record the accrual of payroll taxes. If an amount box does not require an entry, leave it blank.

	CashMedicare Tax PayablePayroll Tax ExpenseSocial Security Tax PayableState Unemployment Tax Payable	- Select -	- Select -
	CashPayroll Tax ExpenseSalaries ExpenseSocial Security Tax ExpenseSocial Security Tax Payable	- Select -	- Select -
	CashMedicare Tax PayablePayroll Tax ExpenseSalaries ExpenseSalaries Payable	- Select -	- Select -
	CashPayroll Tax ExpenseSalaries PayableState Unemployment Tax ExpenseState Unemployment Tax Payable	- Select -	- Select -
	CashFederal Unemployment Tax ExpenseFederal Unemployment Tax PayablePayroll Tax ExpenseSalaries Payable	- Select -	- Select -