Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $2,712 of social security withheld and $678.00 of Medicare tax withheld on total salaries of $45,200 for the period. Earnings of $13,100 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.
Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $2,712 of social security withheld and $678.00 of Medicare tax withheld on total salaries of $45,200 for the period. Earnings of $13,100 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.
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 1E
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Journalize Payroll Tax
The payroll register of Wang Engineering Co. indicates $2,712 of social security withheld and $678.00 of Medicare tax withheld on total salaries of $45,200 for the period. Earnings of $13,100 are subject to state and federal
Provide the
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