The employees of Donnelly Music Company earn total wages of $4,690 during January. The total amount is taxable under FICA, FUTA, and SUTA. The state contribution rate for the company is 3.6%. The amount withheld for federal income taxes is $685.

 

Journalize the payment of the monthly wages, and record the payroll taxes. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. Account Debit Credit Payment of monthly wages Wages Expense Payroll taxes FICA Taxes Payable-OASDI FICA Taxes Payable-HI Employees FIT Payable Cash Payroll Taxes FICA Taxes Payable-OASDI FICA Taxes Payable-HI FUTA Taxes Payable SUTA Taxes Payable 4,690 640.19 X 290.78 68.01 685.00 3,646.21 290.78 68.01 112.56 X 168.84