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Problem 2. Mayer & Co. had the following transactions during the year: FICA is 7.65%, Federal Witholding tax is 20%, State witholding tax is 3%,

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Problem 2. Mayer \& Co. had the following transactions during the year: FICA is 7.65%, Federal Witholding tax is 20%, State witholding tax is 3%, FUI is .7%,SUI is 5.4%. (Journalize the payroll to employees as well as the employers portion that needs to be paid) All wages are subject to FICA and unemployment taxes Prepare the journal entries for the above transactions

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