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Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $966 of social security withheld and $241.50 of Medicare tax withheld on total salaries of $16,100 for the period. Earnings of $5,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal places. Payroll Tax Expense Social Security Tax Payable Medicare Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable

Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $966 of social security withheld and $241.50 of Medicare tax withheld on total salaries of $16,100 for the period. Earnings of $5,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal places. Payroll Tax Expense Social Security Tax Payable Medicare Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 1PB
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Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $966 of social security withheld and $241.50 of Medicare tax withheld on total salaries of $16,100 for the period. Earnings of $5,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal places. Payroll Tax Expense Social Security Tax Payable Medicare Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable
Transcribed Image Text:Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $966 of social security withheld and $241.50 of Medicare tax withheld on total salaries of $16,100 for the period. Earnings of $5,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal places. Payroll Tax Expense Social Security Tax Payable Medicare Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable
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