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thank you so much!! Pavroli entries The payroll regliter for D. Salah Company for the week ended May 18 indicated the following: The salaries were
thank you so much!!
Pavroli entries The payroll regliter for D. Salah Company for the week ended May 18 indicated the following: The salaries were all subject to the 6,0% social secunity tax and the 1.5% Medicare tax, In addition, state and federal unemployment taxes were computed at the rate of 5.4% and 0.8%, respectively, on $9,000 of salaries. Assume the company runs all piychecks through Salaries Payable. If an amount box does not require an entry, leave it blank. a. Journalue the entry to record the psyroll for the week of May 18. b. Joumalye the entry to record the payroll tax expense incurred for the week of May 18. Payroir tax entries According to a summary of the poyroll of Mountain Streaming Co, $120,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $30,000 was subject to state and federal unemployment taxes a. Determine the employer's psyrol taxes, using the following rotes: state unemployment, 5.4%; federal unemployment, 0.8%. Focon wen 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 payrol taxes. If an amount box does not require an entry, leave it blank Step by Step Solution
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