Question
The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be: Wages Expense FTCA Taxes Payable-CASDI FICA Taxes Payable-
The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be: Wages Expense FTCA Taxes Payable-CASDI FICA Taxes Payable- FIT Payable SIT Pwyshe Group Insurance Payments W/ Cash Example 6-7 Debit 24,762.70 Credit 1,535.29 359.06 3,714.00 55.25 54.30 19,044.40 The journal entry to record the payroll tax entry from Figure 6.1 on pages 6-2 and 6-3 would be (assume a SUTA tax rate of 3.0%): Payroll Taxes FICA Taxes Payable-CASDI Debit 2,705.81 Credit 1,535.29 FICA Taxes Payable-HI FUTA Taxes Payable SUTA Taxes Payable 359.00 148.58 742.58 Cal Ruther, en employer, is subject to FICA tax but exempt from FUTA and SUTA. During the last quarter of the year, how empty med monthly wages of $8,500, all of which is beebi. The amount of federal income withheld each month $1,040. Jumal the payment of wages, and record the peyral tax on November 29. For a compound transaction, if an amount box does not require an entry, leave it blank. When required, round your answers to the nearest cent. Date Nov. 29 Nov. 29 Account Debit Credit b. Prior to posting the November 29 payroll transaction, FICA Taxes Payable-QASDI, FICA Taxes Payable-HI, and Employees FIT Payable had zero balances. Ruther must pay the FICA taxes and income taxes withheld on the November 29 payroll. Journalize the electronic transfer of the payroll taxes on December 16. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. Date Dec. 16 Account Debit Credit
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