The employees of Portonegra company earn wages of $15600 for the two weeks ending April 12. Fit taxes of $424 were withheld. The entire amount of wages is subject to the FICA taxes, but only $10800 is taxable under the federal and state unemployment compensation laws. The stqate contribution rate of the employer is 3.9%. All employees are subject to state unemployment contributions of .5% on the April 12 taxable wages of $10800, and the employees' contributions are to be deducted by the employer. Journalize the payment of wages, and record payroll taxes, assuming that the contributions of the employer are recorded in one account, SUTA Taxes Payable.
The employees of Portonegra company earn wages of $15600 for the two weeks ending April 12. Fit taxes of $424 were withheld. The entire amount of wages is subject to the FICA taxes, but only $10800 is taxable under the federal and state
Journalize the payment of wages, and record payroll taxes, assuming that the contributions of the employer are recorded in one account, SUTA Taxes Payable.
Account Debit Credit
Payment of wages
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Payroll Taxes Account Debit Credit
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