in addition state and federal unemployment taxes were calculated at the rate of 5 2 554271
EX 11-12 Payroll entries
The payroll register for Robinson Company for the week ended November 18 indicated the following:
|
Salaries |
$1,300,000 |
|
Social security tax withheld |
61,100 |
|
Medicare tax withheld |
19,500 |
|
Federal income tax withheld |
260,000 |
In addition, state and federal unemployment taxes were calculated at the rate of 5.2% and 0.8%, respectively, on $240,000 of salaries.
a. Journalize the entry to record the payroll for the week of November 18.
b. Journalize the entry to record the payroll tax expense incurred for the week of November 18.
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