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ng to a summary of the payroll of Scotland Company, $450,000 was sub cial security tax and $500,000 was subject to the 1.5% Medicare tax. Fe held was $98,000. Also, $15,000 was subject to state (4.2%) and federa yment taxes. The journal entry to record the accrued payroll taxes woul pit to SUTA Payable for $18,900

ng to a summary of the payroll of Scotland Company, $450,000 was sub cial security tax and $500,000 was subject to the 1.5% Medicare tax. Fe held was $98,000. Also, $15,000 was subject to state (4.2%) and federa yment taxes. The journal entry to record the accrued payroll taxes woul pit to SUTA Payable for $18,900

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter9: Payroll Accounting: Employer Taxes And Reports
Section: Chapter Questions
Problem 1MP: The totals line from Nix Companys payroll register for the week ended March 31, 20--, is as follows:...
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According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security tax and $500,000 was subject to the 1.5% Medicare tax.  Federal income tax withheld was $98,000.  Also, $15,000 was subject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record the accrued payroll taxes would include a

​

  a.
debit to SUTA Payable for $18,900
  b.
debit to SUTA Payable for $630
  c.
credit to SUTA Payable for $18,900
  d.
credit to SUTA Payable for $630
According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record the accrued payroll taxes would include a a. debit to SUTA Payable for $18,900 b. debit to SUTA Payable for $630 c. credit to SUTA Payable for $18,900 d. credit to SUTA Payable for $630
Transcribed Image Text:According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record the accrued payroll taxes would include a a. debit to SUTA Payable for $18,900 b. debit to SUTA Payable for $630 c. credit to SUTA Payable for $18,900 d. credit to SUTA Payable for $630
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