Question
The payroll register of Big House Cleaning Company showed total employee earnings of $2,800 for the payroll period ended July 14, 2019. Required : Compute
The payroll register of Big House Cleaning Company showed total employee earnings of $2,800 for the payroll period ended July 14, 2019.
Required:
Compute the employers payroll taxes for the period. Use rates of 6.2 percent for the employers share of the social security tax, 1.45 percent for Medicare tax, 0.6 percent for FUTA tax, and 5.4 percent for SUTA tax. All earnings are taxable.
Prepare a general journal entry to record the employers payroll taxes for the period
Analyze: Which of the above taxes are paid by the employee and matched by the employer
Required:-1
Compute the employers payroll taxes for the period. Use rates of 6.2 percent for the employers share of the social security tax, 1.45 percent for Medicare tax, 0.6 percent for FUTA tax, and 5.4 percent for SUTA tax. All earnings are taxable. (Round "Rate" answers to 2 decimal places.)
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Required :-2
Prepare a general journal entry to record the employers payroll taxes for the period. (Round your answers to 2 decimal places.)
Journal entry worksheet
Record employers payroll taxes.
Note: Enter debits before credits.
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Required :-3
Which of the taxes are paid by the employee and matched by the employer?
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