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Widmer Company had gross wages of $155,000 during the week ended June 17. The amount of wages subject to social security tax was $139,500, while the amount of wages subject to federal and state unemployment taxes was $19,000. Tax rates are as follows: Social security 6.0% Medicare 1.5% State unemployment 5.4% Federal unemployment 0.8%

Widmer Company had gross wages of $155,000 during the week ended June 17. The amount of wages subject to social security tax was $139,500, while the amount of wages subject to federal and state unemployment taxes was $19,000. Tax rates are as follows: Social security 6.0% Medicare 1.5% State unemployment 5.4% Federal unemployment 0.8%

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
12th Edition
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cathy J. Scott
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
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Widmer Company had gross wages of $155,000 during the week ended June 17. The amount of wages subject to social security tax was $139,500, while the amount of wages subject to federal and state unemployment taxes was $19,000. Tax rates are as follows:

Social security 6.0%
Medicare 1.5%
State unemployment 5.4%
Federal unemployment 0.8%

The total amount withheld from employee wages for federal taxes was $31,000.

If an amount box does not require an entry, leave it blank. If required, round answers to two decimal places.

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a.  Journalize the entry to record the payroll for the week of June 17.

June 7
 
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b.  Journalize the entry to record the payroll tax expense incurred for the week of June 17.

June 7
 
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