Question
You are Golden Corporation. You operate a business in Georgia and have two salaried employees who are paid monthly.You pay the accrued payroll taxes to
You are Golden Corporation. You operate a business in Georgia and have two salaried employees who are paid monthly.You pay the accrued payroll taxes to the various government agencies on the 10th ofthe following month.
Additional information:
Social Security tax 6.2% of gross pay
Medicare tax 1.45% of gross pay
Federal unemployment tax rate 0.8%of gross pay
State unemployment tax rate 5.4% of gross pay
Anne Aimes Marital status: single, one allowance
Monthly gross pay = $4,450.00 state income tax = $60.53
Mark Miller Marital status: married, two allowances
Monthly gross pay = $5,490.00 state income tax = $82.89
Record the journal entry for the period's payroll.
Record the journal entry for the payroll tax expense for the month.
Record the journal entry for the payment of all of the payroll-related liabilities incurred in June.
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