The following journal entry for payroll taxes has been recorded by Ruth for her hair salon business. Assume federal income tax is $3,832.00 and state income tax is $306.00. Prepare the journal entry to record payment of the payroll taxes, assuming all taxes were paid on the same day. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) General Journal Date Account Titles and Explanation Ref. Debit Credit   Payroll Tax Expense   2,232.20         FICA Taxes Payable     1,223.00       Federal Unemployment Taxes Payable     67.20       State Unemployment Taxes Payable     942.00   (To record employer’s payroll taxes)         Account Titles and Explanation Debit Credit

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following journal entry for payroll taxes has been recorded by Ruth for her hair salon business. Assume federal income tax is $3,832.00 and state income tax is $306.00.

Prepare the journal entry to record payment of the payroll taxes, assuming all taxes were paid on the same day. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

General Journal
Date
Account Titles and Explanation
Ref.
Debit
Credit
 
Payroll Tax Expense
 
2,232.20
 
 
    FICA Taxes Payable
   
1,223.00
 
    Federal Unemployment Taxes Payable
   
67.20
 
    State Unemployment Taxes Payable
   
942.00
  (To record employer’s payroll taxes)      

 

Account Titles and Explanation
Debit
Credit
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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