Widmer Company had gross wages of $309,000 during the week ended June 17. The amount of wages subject to social security tax was $278,100, while the amount of wages subject to federal and state unemployment taxes was $39,000. Tax rates are as follows: Line Item Description Percentage Social security 6.0% Medicare 1.5% State unemployment 5.4% Federal unemployment 0.8% The total amount withheld from employee wages for federal taxes was $61,800. If an amount box does not require an entry, leave it blank. If required, round answers to two decimal places. Question Content Area a. Journalize the entry to record the payroll for the week of June 17. Date Account Debit Credit June 7 Question Content Area b. Journalize the entry to record the payroll tax expense incurred for the week of June 17. Date Account Debit Credit June 7
Widmer Company had gross wages of $309,000 during the week ended June 17. The amount of wages subject to social security tax was $278,100, while the amount of wages subject to federal and state unemployment taxes was $39,000. Tax rates are as follows: Line Item Description Percentage Social security 6.0% Medicare 1.5% State unemployment 5.4% Federal unemployment 0.8% The total amount withheld from employee wages for federal taxes was $61,800. If an amount box does not require an entry, leave it blank. If required, round answers to two decimal places. Question Content Area a. Journalize the entry to record the payroll for the week of June 17. Date Account Debit Credit June 7 Question Content Area b. Journalize the entry to record the payroll tax expense incurred for the week of June 17. Date Account Debit Credit June 7
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Widmer Company had gross wages of $309,000 during the week ended June 17. The amount of wages subject to social security tax was $278,100, while the amount of wages subject to federal and state
| Line Item Description | Percentage |
|---|---|
| Social security | 6.0% |
| Medicare | 1.5% |
| State unemployment | 5.4% |
| Federal unemployment | 0.8% |
The total amount withheld from employee wages for federal taxes was $61,800.
If an amount box does not require an entry, leave it blank. If required, round answers to two decimal places.
Question Content Area
a.
| Date | Account | Debit | Credit |
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| June 7 |
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Question Content Area
b. Journalize the entry to record the payroll tax expense incurred for the week of June 17.
| Date | Account | Debit | Credit |
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| June 7 |
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