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The following amounts have been taken from the weekly payroll register for October 15, 20xx. Prepare the general journal entry to record the payroll
The following amounts have been taken from the weekly payroll register for October 15, 20xx. Prepare the general journal entry to record the payroll on October 15, 20xx. Use the gross pay amount to figure the FICA OASDI (6.2%) and FICA Medicare (1.45%) payroll deductions. Also prepare the journal entry to record the employer's payroll taxes after figuring the FUTA (.8%) and SUTA (4%) taxes. Assume that the gross wages are equal to the taxable wages for OASDI, FUTA, and SUTA. Salaries Deduction for federal income tax Deduction for health insurance premiums Deduction for United Way Contributions Deduction for OASDI Deduction for Medicare Federal Unemployment Tax State Unemployment Tax 6,275.00 2,000.00 75.00 50.00 (figure this amt) (figure this amt). (figure this amt). (figure this amt).
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