Oriole Company has the following data for the weekly payroll ending January 31.EmployeeL. HeltonR.KensethD. TavarasM T8898811HoursW108T88F S10008338 8 9 0Hourly Rate Federal Income Tax Withholding$34$1416173758Health Insurance$102525Employees are paid 1½ times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 7.65% (the7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of1.45% on all salaries and wages). Oriole Company is subject to 5.4% state unemployment taxes and 0.6% federal unemployment taxeson the first $7,000 of gross earnings.Prepare the journal entry to record Oriole's payroll tax expense. (Credit account titles are automatically indented when amount is entered.Do not indent manually. Round answers to 2 decimal places, e.g. 15.25.)SUPPORT11:22 AM11/30/2023 on the first $7,000 of gross earnings.Prepare the journal entry to record Oriole's payroll tax expense. (Credit account titles are automatically indented when amount is entered.Do not indent manually. Round answers to 2 decimal places, e.g. 15.25.)Date Account Titles and ExplanationJan. 31DebitCredit

Oriole Company has the following data for the weekly payroll ending January 31. Employee L. Helton R. Kenseth D. Tavaras M 8 8 9 T 8 8 11 Hours W 10 8 8 T F 8 8 8 10 8 9 S 3 3 0 Hourly Rate Federal Income Tax Withholding $34 $14 16 17 37 58 Health Insurance $10 25 25

Oriole Company has the following data for the weekly payroll ending January 31. Employee L. Helton R. Kenseth D. Tavaras M 8 8 9 T 8 8 11 Hours W 10 8 8 T F 8 8 8 10 8 9 S 3 3 0 Hourly Rate Federal Income Tax Withholding $34 $14 16 17 37 58 Health Insurance $10 25 25

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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