Journallze employer payroll taxes. No employee has reached the Social Security limit of $128,400 or the FUTA/SUTA limit of$7,000. (Round answers to 2 decimal places, es. 15.25. Credit account titles are qutomatically indented when amount is entered. Do notindent manually)DateAccount Titles and ExplanationDebitCreditMar. 15eTextbook and MediaList of AccountsJournalize the payment on March 31 of the FICA taxes and federal income taxes payable only. (Round answers to 2 decimal places,es 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually)DateAccount Titles and ExplanationDebitCreditMar. 31 Sunland Hardware has four emplayees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 aweek. Payroll data for the week ended March 15 are presented below.EmployeeHours WorkedHourly RateFederal Income Tax WithholdingsUnited FundBen Abel40$18.00$48.00$5.00Rita Hager4219.0021.005.00Jack Never4410.0060.008.00Sue Perez4610.0061.005.00The following tax rates are applicable. FICA 7.65% (the 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salariesand wages up to $128.400 and the Medicare tax rate of 1.45% on all salaries and wages), state income taxes 3%, state unemploymenttaxes 5,AN, and federal unemployment 0.6%.

Journal is the recording of financial transactions which ahead help in preparing the ledgers, trial…

Sunland Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15 are presented below. Employee Hours Worked Hourly Rate Federal Income Tax Withholdings United Fund Ben Abel 40 $18.00 $48.00 $5.00 Rita Hager 42 19.00 21.00 5.00 Jack Never 44 10.00 60.00 8.00 Sue Perez 46 10.00 61.00 5.00 The following tax rates are applicable: FICA 7.65% (the 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128.400 and the Medicare tax rate of 1.45% on all salaries and wages), state income taxes 3%, state unemployment taxes 5AN, and federal unemployment 0.6%.

Sunland Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15 are presented below. Employee Hours Worked Hourly Rate Federal Income Tax Withholdings United Fund Ben Abel 40 $18.00 $48.00 $5.00 Rita Hager 42 19.00 21.00 5.00 Jack Never 44 10.00 60.00 8.00 Sue Perez 46 10.00 61.00 5.00 The following tax rates are applicable: FICA 7.65% (the 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128.400 and the Medicare tax rate of 1.45% on all salaries and wages), state income taxes 3%, state unemployment taxes 5AN, and federal unemployment 0.6%.

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter13: Accounting For Payroll And Payroll Taxes

Section13.4: Paying Withholding And Payroll Taxes

Problem 1OYO

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Crane Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week Payroll data for the week ended March 15 are presented below. Employee Ben Abel Rita Hager Jack Never Sue Perez Hours Worked 40 42 44 46 Hourly Rate $11.00 23.00 19.00 19.00 Federal Income Tax Withholdings $48.00 21.00 60.00 61.00 United Fund $5.00 5.00 8.00 5.00 The following tax rates are applicable: FICA 7.65% (the 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages), state income taxes 3%, state unemployment taxes 5.4%, and federal unemployment 0.6%
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