the total amount withheld from employee wages for federal taxes was 22 000 554272
EX 11-13 Payroll entries
Faber Company had gross wages of $110,000 during the week ended June 17. The amount of wages subject to social security tax was $110,000, while the amount of wages subject to federal and state unemployment taxes was $15,000. Tax rates are as follows:
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the total amount withheld from employee wages for federal taxes was 22 000 554272
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|
Social security |
6.0% |
|
Medicare |
1.5% |
|
State unemployment |
5.4% |
|
Federal unemployment |
0.8% |
The total amount withheld from employee wages for federal taxes was $22,000.
a. Journalize the entry to record the payroll for the week of June 17.
b. Journalize the entry to record the payroll tax expense incurred for the week of June 17.
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