Sweetman's Recording Studio payroll records show the following information:
Assume the following:
a)FICA: OASDI, 6.2% on a limit of $106,800; Medicare, 1.45%
b)Each employee contributes $40 per week for union dues
c)State income tax is 5% of gross pay
d)Federal income tax is 20% of gross pay
Prepare a general journal payroll entry.

Question

Sweetman's Recording Studio payroll records show the following information:
  Assume the following:
a)FICA: OASDI, 6.2% on a limit of $106,800; Medicare, 1.45%
b)Each employee contributes $40 per week for union dues
c)State income tax is 5% of gross pay
d)Federal income tax is 20% of gross pay
Prepare a general journal payroll entry.

Quizplus · Accepted Answer

The Answer of Sweetman's Recording Studio payroll records show the following information:
  Assume the following:
a)FICA: OASDI, 6.2% on a limit of $106,800; Medicare, 1.45%
b)Each employee contributes $40 per week for union dues
c)State income tax is 5% of gross pay
d)Federal income tax is 20% of gross pay
Prepare a general journal payroll entry.

Sweetman's Recording Studio Payroll Records Show the Following Information