According to a summary of the payroll of Sinclair Company, $505,000 was subject to the 6.0% social security tax and $545,000 was subject to the 1.5% Medicare tax. Also, $10,000 was subject to state and federal unemployment taxes. Question Content Area Required: a.  Compute the employer's payroll taxes using the following rates: State unemployment, 4.2%; Federal unemployment, 0.8%. $ fill in the blank bdfee804ffc2f82_1   Question Content Area b.  Journalize the entry for the employer's payroll tax expense. If an amount box does not require an entry, leave it blank.     - Select - - Select -     - Select - - Select -     - Select - - Select -     - Select - - Select -     - Select - - Select -

Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter13: Accounting For Payroll And Payroll Taxes
Section: Chapter Questions
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According to a summary of the payroll of Sinclair Company, $505,000 was subject to the 6.0% social security tax and $545,000 was subject to the 1.5% Medicare tax. Also, $10,000 was subject to state and federal unemployment taxes.

Question Content Area

Required:

a.  Compute the employer's payroll taxes using the following rates: State unemployment, 4.2%; Federal unemployment, 0.8%.
$ fill in the blank bdfee804ffc2f82_1

 

Question Content Area

b.  Journalize the entry for the employer's payroll tax expense. If an amount box does not require an entry, leave it blank.

 
 
- Select - - Select -
 
 
- Select - - Select -
 
 
- Select - - Select -
 
 
- Select - - Select -
 
 
- Select - - Select -
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