KMH Industries is a monthly schedule depositor of payroll taxes. For the month of August 2021, the payroll taxes (employee and employer share combined) were as follows: Social Security tax: $4,355.03 Medicare tax: $1,018.52 Employee Federal income tax: $3,400.00 Required: Create the General Journal entry for the remittance of the taxes. (If no entry is required for a transaction/event, select "No journa entry required" in the first account field. Round your answers to 2 decimal places.) View transaction list Journal entry worksheet 1 Record the remittance of August payroll taxes. Note: Enter debits before credits. Date September 15 Record entry General Journal Clear entry Debit Credit View general journal
KMH Industries is a monthly schedule depositor of payroll taxes. For the month of August 2021, the payroll taxes (employee and employer share combined) were as follows: Social Security tax: $4,355.03 Medicare tax: $1,018.52 Employee Federal income tax: $3,400.00 Required: Create the General Journal entry for the remittance of the taxes. (If no entry is required for a transaction/event, select "No journa entry required" in the first account field. Round your answers to 2 decimal places.) View transaction list Journal entry worksheet 1 Record the remittance of August payroll taxes. Note: Enter debits before credits. Date September 15 Record entry General Journal Clear entry Debit Credit View general journal
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:KMH Industries is a monthly schedule depositor of payroll taxes. For the month of August 2021, the payroll taxes (employee and
employer share combined) were as follows:
Social Security tax: $4,355.03
Medicare tax: $1,018.52
Employee Federal income tax: $3,400.00
Required:
Create the General Journal entry for the remittance of the taxes. (If no entry is required for a transaction/event, select "No journal
entry required" in the first account field. Round your answers to 2 decimal places.)
View transaction list
Journal entry
worksheet
1
Record the remittance of August payroll taxes.
Note: Enter debits before credits.
Date
September 15
Record entry
General Journal
Clear entry
Debit
Credit
View general journal
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