Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its related liabilities. Answer is not complete. Complete this question by entering your answers in the tabs below. Payroll Taxes Expense General Journal Assuming situation (a), compute the payroll taxes expense. Note: Round your answers to 2 decimal places. Employer Payroll taxes September earnings subject to Tax Rate Tax Amount tax FICA-Social Security 800.00 - 6.20% $ 49.60 FICA-Medicare FUTA SUTA 800.00 1.45% 1160 6,400.00 0.60%- 38.40 6,400.00 5.40% 345.60 Total Payroll Taxes Expense 445.20
Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its related liabilities. Answer is not complete. Complete this question by entering your answers in the tabs below. Payroll Taxes Expense General Journal Assuming situation (a), compute the payroll taxes expense. Note: Round your answers to 2 decimal places. Employer Payroll taxes September earnings subject to Tax Rate Tax Amount tax FICA-Social Security 800.00 - 6.20% $ 49.60 FICA-Medicare FUTA SUTA 800.00 1.45% 1160 6,400.00 0.60%- 38.40 6,400.00 5.40% 345.60 Total Payroll Taxes Expense 445.20
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 10PA: Lemur Corp. is going to pay three employees a year-end bonus. The amount of the year-end bonus and...
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