During October, Seger Insurance employees earned $100,000 in wages. Social Security applied to $86,000 of these wages, while Medicare applies to all $100,000. State and federal unemployment taxes of $1,300 and $650 are owed, respectively. Required: Prepare the necessary journal entry for Seger to record the employer portion of these payroll taxes. If an amount box does not require an entry, leave it either blank.
During October, Seger Insurance employees earned $100,000 in wages. Social Security applied to $86,000 of these wages, while Medicare applies to all $100,000. State and federal unemployment taxes of $1,300 and $650 are owed, respectively. Required: Prepare the necessary journal entry for Seger to record the employer portion of these payroll taxes. If an amount box does not require an entry, leave it either blank.
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 4E
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During October, Seger Insurance employees earned $100,000 in wages. Social Security applied to $86,000 of these wages, while Medicare applies to all $100,000. State and federal
Required:
Prepare the necessary
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