Question
prepate journal entries for the following AS OF MARCH 2017 1)Paid $5,000 to employees, with withholding of $960 for federal income taxes, $150 for state
prepate journal entries for the following AS OF MARCH 2017
1)Paid $5,000 to employees, with withholding of $960 for federal income taxes, $150 for state income taxes, $310 for social security, $725 for Medicare tax, and $100 for city income tax. Use Employee Tax Withheld account for all withholding. | ||||
2)Accrue employer tax (related to July 18th payroll) of $1,352. These taxes include employer portion of FICA and Medicare tax and state and federal unemployment tax. Use Employer Tax Payable account.
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