During the month of January, an employer incurred the following payroll taxes: FICA Social Security taxes of $372, FICA Medicare taxes of $87, FUTA taxes of $36, and SUTA taxes of $324. Prepare the journal entry to record the employer’s payroll tax expense assuming these wages will be paid in early February.

Np Ms Office 365/Excel 2016 I Ntermed
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ISBN:9781337508841
Author:Carey
Publisher:Carey
Chapter8: Working With Advanced Functions
Section: Chapter Questions
Problem 3.10CP
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During the month of January, an employer incurred the following payroll taxes: FICA Social Security taxes of $372, FICA Medicare taxes of $87, FUTA taxes of $36, and SUTA taxes of $324.

Prepare the journal entry to record the employer’s payroll tax expense assuming these wages will be paid in early February.

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