Journalizing Payroll Transactions On December 31, the payroll register of Hamstreet Associates indicated the following information: Wages and Salaries Expense $7,100.00 Employee Federal Income Tax Payable 970.00 United Way Contributions Payable 230.00 Earnings subject to Social Security tax       6,600.00 Use Social Security 6.2% and Medicare 1.45% as specified in the text. 1.  Determine the amount of Social Security and Medicare taxes to be withheld. If required, round your answers to the nearest cent.   Social Security Tax $fill in the blank a35bdffc5ff4017_1 Medicare Tax $fill in the blank a35bdffc5ff4017_2

Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter13: Accounting For Payroll And Payroll Taxes
Section13.1: Recording A Payroll
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Journalizing Payroll Transactions

On December 31, the payroll register of Hamstreet Associates indicated the following information:

Wages and Salaries Expense $7,100.00
Employee Federal Income Tax Payable 970.00
United Way Contributions Payable 230.00
Earnings subject to Social Security tax       6,600.00

Use Social Security 6.2% and Medicare 1.45% as specified in the text.

1.  Determine the amount of Social Security and Medicare taxes to be withheld.

If required, round your answers to the nearest cent.

 

Social Security Tax $fill in the blank a35bdffc5ff4017_1
Medicare Tax $fill in the blank a35bdffc5ff4017_2
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