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Pls solve and show work Payroll Entries Urban Window Company had gross wages of $197,000 during the week ended July 15. The amount of wages
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Payroll Entries Urban Window Company had gross wages of $197,000 during the week ended July 15. The amount of wages subject to social security tax was $177,300, while the amount of wages subject to federal and state unemployment taxes was $25,000. Tax rates are as follows: Social security 6.0% Medicare 1.5% State unemployment 5.4% Federal unemployment 0.6% The total amount withheld from employee wages for federal taxes was $39,400. a. Journalize the entry to record the payroll for the week of July 15. If an amount box does not require an entry, leave it blank. Wages Expense 197,000 Social Security Tax Payable 10,638 Medicare Tax Payable Employees Federal Income Tax Payable Wages Payable Feedback Check My Work Gross pay is the amount that employees have earned before taxes and deductions. A portion of employees' earnings are owed for such items as state and federal taxes. Net pay is also known as take home pay. b. Journalize the entry to record the payroll tax expense incurred for the week of July 15. 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 PayableStep by Step Solution
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