The summary of the payroll for the monthly pay period ending December 15 indicat
ID: 2594043 • Letter: T
Question
The summary of the payroll for the monthly pay period ending December 15 indicated the following:
Sales salaries
$165,000
Federal income tax withheld
32,300
Office salaries
34,000
Medical insurance withheld
14,370
Social security tax withheld
12,200
Medicare tax withheld
4,550
Journalize the entries to record (a) the payroll and (b) the employer's payroll tax expense for the month. The state unemployment tax rate is 3.1%, and the federal unemployment tax rate is 0.8%. Only $30,000 of salaries are subject to unemployment taxes.
Sales salaries
$165,000
Federal income tax withheld
32,300
Office salaries
34,000
Medical insurance withheld
14,370
Social security tax withheld
12,200
Medicare tax withheld
4,550
Explanation / Answer
Sales Salaries Expense 165000 Office Salaries Expense 34000 Social Security Tax Payable 12200 Medicare Tax Payable 14370 Federal Income Tax Payable 32300 Medical Insurance Payable 14370 Salaries Payable 125760 b Payroll Taxes Expense 27740 Social Security Tax Payable 12200 Medicare Tax Payable 14370 State Unemployment Tax Payable 930 =30000*3.1% Federal Unemployment Tax Payable 240 =30000*0.8%
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