Sweetman's Recording Studio payroll records show the following information:

Assume the following:
a)FICA: OASDI,6.2% on a limit of $117,000;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 $117,000;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 $117,000;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