Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $2,346 of social security withheld and $586.50 of Medicare tax withheld on total salaries of $39,100 for the period. Earnings of $10,900 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leav it blank. Round to two decimal places.
Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $2,346 of social security withheld and $586.50 of Medicare tax withheld on total salaries of $39,100 for the period. Earnings of $10,900 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leav it blank. Round to two decimal places.
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter9: Payroll Accounting: Employer Taxes And Reports
Section: Chapter Questions
Problem 1MP: The totals line from Nix Companys payroll register for the week ended March 31, 20--, is as follows:...
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![Journalize Payroll Tax
The payroll register of Wang Engineering Co. indicates $2,346 of social security withheld and $586.50 of Medicare tax
withheld on total salaries of $39,100 for the period. Earnings of $10,900 are subject to state and federal unemployment
compensation taxes at the federal rate of 0.6% and the state rate of 5.4%.
Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave
it blank. Round to two decimal places.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6d4c4942-8108-40ec-bb99-e0b494c7e0a7%2F3a150117-fd38-4adc-907b-1adcb7e0acd6%2Fshfy5qn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Journalize Payroll Tax
The payroll register of Wang Engineering Co. indicates $2,346 of social security withheld and $586.50 of Medicare tax
withheld on total salaries of $39,100 for the period. Earnings of $10,900 are subject to state and federal unemployment
compensation taxes at the federal rate of 0.6% and the state rate of 5.4%.
Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave
it blank. Round to two decimal places.
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