The payroll register for D. Salah Company for the week ended May 18 indicated the following: Salaries $535,000 Federal income tax withheld 107,000 The salaries were all subject to the 6.0% social security tax and the 1.5% Medicare tax. In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.8%, respectively, on $10,000 of salaries. If an amount box does not require an entry, leave it blank. Journalize the entry to record the payroll for the week of May 18.

Question

Nancy Martinez

Business

19 March, 12:49

The payroll register for D. Salah Company for the week ended May 18 indicated the following: Salaries $535,000 Federal income tax withheld 107,000 The salaries were all subject to the 6.0% social security tax and the 1.5% Medicare tax. In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.8%, respectively, on $10,000 of salaries. If an amount box does not require an entry, leave it blank. Journalize the entry to record the payroll for the week of May 18.

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Jayden Rosales · Answer 1

The journal entry is given as follows;

Explanation:

Salaries Expense Dr.$535,000

Social Security Tax payable 535,000*6% Cr.$32,100

Medicare tax payable 535,000*1.5% Cr.$8,025

Federal Income Tax payable Cr.$107,000

Salaries Payable Cr.$387,875