Didier and Sons had the following employer's share payroll tax general journal entry for the May 5 pay date: May 5 Payroll Taxes Expense $ 27,671.87
Federal income tax payable 11,955.00
Social Security tax payable ???
Medicare tax payable 3,197.15
FUTA tax payable 1,322.96
SUTA tax payable 9,481.20
What is the amount of the Social Security tax payable?
A) $1,582.39
B) $2,572.59
C) $1,715.56
D) $1,875.98

Question

Quizplus · Accepted Answer

Social Security tax payable = Payroll Taxes Expense - Federal income tax payable - Medicare tax payable - FUTA tax payable - SUTA tax payable= $27,671.87 - $11,955.00 - $3,197.15 - $1,322.96 - $9,481.20= $1,715.56

Didier and Sons Had the Following Employer's Share Payroll Tax