Widmer Company had gross wages of $309,000 during the week ended June 17. The amount of wages subject to social security tax was $278,100, while the amount of wages subject to federal and state unemployment taxes was $39,000. Tax rates are as follows: Line Item Description Percentage 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 $61,800. If an amount box does not require an entry, leave it blank. If required, round answers to two decimal places. Question Content Area a. Journalize the entry to record the payroll for the week of June 17. Date Account Debit Credit June 7 Question Content Area b. Journalize the entry to record the payroll tax expense incurred for the week of June 17. Date Account Debit Credit June 7
Widmer Company had gross wages of $309,000 during the week ended June 17. The amount of wages subject to social security tax was $278,100, while the amount of wages subject to federal and state unemployment taxes was $39,000. Tax rates are as follows: Line Item Description Percentage 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 $61,800. If an amount box does not require an entry, leave it blank. If required, round answers to two decimal places. Question Content Area a. Journalize the entry to record the payroll for the week of June 17. Date Account Debit Credit June 7 Question Content Area b. Journalize the entry to record the payroll tax expense incurred for the week of June 17. Date Account Debit Credit June 7
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 2E
Related questions
Question
Widmer Company had gross wages of $309,000 during the week ended June 17. The amount of wages subject to social security tax was $278,100, while the amount of wages subject to federal and state
Line Item Description | Percentage |
---|---|
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 $61,800.
If an amount box does not require an entry, leave it blank. If required, round answers to two decimal places.
Question Content Area
a.
Date | Account | Debit | Credit |
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June 7 |
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Question Content Area
b. Journalize the entry to record the payroll tax expense incurred for the week of June 17.
Date | Account | Debit | Credit |
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June 7 |
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