The payroll register of Patel Heritage Co indicates $2,280 of social security withheld and $570.00 of Medicare tax withheld on total salaries of $38,000 for the period. Earnings of $10,600 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal places.   Payroll Tax Expense  fill in the blank 2 fill in the blank 3   Social Security Tax Payable  fill in the blank 5 fill in the blank 6   Medicare Tax Payable  fill in the blank 8 fill in the blank 9   State Unemployment Tax Payable  fill in the blank 11 fill in the blank 12   Federal Unemployment Tax Payable

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Journalize Payroll Tax

The payroll register of Patel Heritage Co indicates $2,280 of social security withheld and $570.00 of Medicare tax withheld on total salaries of $38,000 for the period. Earnings of $10,600 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% and the state rate of 5.4%.

Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal places.

  Payroll Tax Expense  fill in the blank 2 fill in the blank 3
  Social Security Tax Payable  fill in the blank 5 fill in the blank 6
  Medicare Tax Payable  fill in the blank 8 fill in the blank 9
  State Unemployment Tax Payable  fill in the blank 11 fill in the blank 12
  Federal Unemployment Tax Payable  fill in the blank 14
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