The payroll register for D. Salah Company for the week ended May 18 indicated the following: Salaries $689,000 Federal income tax withheld 137,800 The salaries were all subject to the 6.0% social security tax and the 1.5% Medicare tax. In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.8%, respectively, on $13,091 of salaries. Required: a. Journalize the entry to record the payroll for the week of May 18.* b. Journalize the entry to record the payroll tax expense incurred for the week of May 18.*
The payroll register for D. Salah Company for the week ended May 18 indicated the following: Salaries $689,000 Federal income tax withheld 137,800 The salaries were all subject to the 6.0% social security tax and the 1.5% Medicare tax. In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.8%, respectively, on $13,091 of salaries. Required: a. Journalize the entry to record the payroll for the week of May 18.* b. Journalize the entry to record the payroll tax expense incurred for the week of May 18.*
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 26CE: Payroll Taxes Hernandez Builders has a gross payroll for January amounting to $500,000. The...
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![The payroll register for D. Salah Company for the week ended May 18 indicated the following:
Salaries
$689,000
Federal income tax withheld
137,800
The salaries were all subject to the 6.0% social security tax and the 1.5% Medicare tax. In addition, state and federal unemployment taxes were
calculated at the rate of 5.4% and 0.8%, respectively, on $13,091 of salaries.
Required:
a. Journalize the entry to record the payroll for the week of May 18.*
b. Journalize the entry to record the payroll tax expense incurred for the week of May 18.*](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9e9bcea8-2108-424e-82d9-96d70fdb2eed%2F14fd8c3a-821f-4897-bc34-0096119ddd36%2F64567s62_processed.png&w=3840&q=75)
Transcribed Image Text:The payroll register for D. Salah Company for the week ended May 18 indicated the following:
Salaries
$689,000
Federal income tax withheld
137,800
The salaries were all subject to the 6.0% social security tax and the 1.5% Medicare tax. In addition, state and federal unemployment taxes were
calculated at the rate of 5.4% and 0.8%, respectively, on $13,091 of salaries.
Required:
a. Journalize the entry to record the payroll for the week of May 18.*
b. Journalize the entry to record the payroll tax expense incurred for the week of May 18.*
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