The payroll register of Patel Engineering Co. indicates $2,916 of social security withheld and $729 of Medicare tax withheld on total salaries of $48,600 for the period. Earnings of $15,100 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% 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 48,600 x Social Security Tax Payable - v 2,916 V Medicare Tax Payable 729 V State Unemployment Tax Expense 81,540 X Federal Unemployment Tax Payable 12,080 X

College Accounting (Book Only): A Career Approach
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Chapter8: Employer Taxes, Payments, And Reports
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The payroll register of Patel Engineering Co. indicates $2,916 of social security withheld and $729 of Medicare tax withheld on total salaries of $48,600 for the period. Earnings of
$15,100 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% 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
48,600 x
Social Security Tax Payable - v
2,916 V
Medicare Tax Payable
729 V
State Unemployment Tax Expense
81,540 X
Federal Unemployment Tax Payable
12,080 X
Transcribed Image Text:The payroll register of Patel Engineering Co. indicates $2,916 of social security withheld and $729 of Medicare tax withheld on total salaries of $48,600 for the period. Earnings of $15,100 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% 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 48,600 x Social Security Tax Payable - v 2,916 V Medicare Tax Payable 729 V State Unemployment Tax Expense 81,540 X Federal Unemployment Tax Payable 12,080 X
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