Calculation and Journal Entry for Employer Payroll TaxesEarnings for several employees for the week ended March 12, 20--, are as follows:Taxable EarningsEmployee NameAus, Glenn E.Diaz, Charles K.Knapp, Carol S.Mueller, Deborah F.Yeager, Jackie R.+ACurrentEarnings$7203501,220850940UnemploymentCompensation$21034013535SocialSecurity$7203501,2208509401. Calculate the employer's payroll taxes expense for the week ended March 12, 20--, assuMedicare tax is 1.45%.

Payroll tax expenses include the amount paid to the employees in the form of wages and salaries. A…

Calculation and Journal Entry for Employer Payroll Taxes Earnings for several employees for the week ended March 12, 20--, are as follows: Taxable Earnings Employee Name Aus, Glenn E. Diaz, Charles K. Knapp, Carol S. Mueller, Deborah F. Yeager, Jackie R. $ Current Earnings $720 350 ,220 850 940 Unemployment Compensation $210 340 135 35 Social Security $720 350 1,220 850 940 1. Calculate the employer's payroll taxes expense for the week ended March 12, 20--, ass Medicare tax is 1.45%.

Calculation and Journal Entry for Employer Payroll Taxes Earnings for several employees for the week ended March 12, 20--, are as follows: Taxable Earnings Employee Name Aus, Glenn E. Diaz, Charles K. Knapp, Carol S. Mueller, Deborah F. Yeager, Jackie R. $ Current Earnings $720 350 ,220 850 940 Unemployment Compensation $210 340 135 35 Social Security $720 350 1,220 850 940 1. Calculate the employer's payroll taxes expense for the week ended March 12, 20--, ass Medicare tax is 1.45%.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Payroll: Record Employer Payroll Tax Journal Entry