The payroll register of Seaside Architecture Company indicates $870 of social security and $217 of medicare...

The payroll register of Seaside Architecture Company indicates $870 of social security and $217 of medicare tax withheld on total salaries of $14,500 for the period. Assume earnings subject to state and federal unemployment compensation taxes are $5,250. at the federal rate of 0.8% and state rate of 5.4%.

Provide the journal entry to record the payroll tax expense for the period. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0". If required, round your answers to two decimal places.

The payroll register of Seaside Architecture Compa

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Account Titles & Explanation	Debit	Credit
Payroll Tax Expense	1,412.50
Social Security Taxes Payable		870.00
Medicare Taxes Payable		217.00
State Unemployment Tax Payable ($5,250*5.4%)		283.50
Federal Unemployment Tax Payable ($5,250*0.8%)		42.00

ekkarill92 answered 1 year ago

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