Natural Hair reports the following payroll information for May, 2015: Tax rate information follows:
FICA $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $7.0%
Federal unemployment $\quad $ 0.8%
State employment $\quad $ $\quad $ 5.4%

Assume that all wages are subject to all payroll taxes.
Required:
Prepare the journal entries to record the payment of the May, 2015, payroll and to record the payroll taxes imposed on the employer.

Question

Natural Hair reports the following payroll information for May, 2015:   Tax rate information follows:
FICA  $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $7.0%
Federal unemployment $\quad $ 0.8%
State employment $\quad $ $\quad $ 5.4%

Assume that all wages are subject to all payroll taxes.
Required:
Prepare the journal entries to record the payment of the May, 2015, payroll and to record the payroll taxes imposed on the employer.

Quizplus · Accepted Answer

The Answer of Natural Hair reports the following payroll information for May, 2015:   Tax rate information follows:
FICA  $\quad $ $\quad $ $\quad $ $\quad $ $\quad $ $\quad $7.0%
Federal unemployment $\quad $ 0.8%
State employment $\quad $ $\quad $ 5.4%

Assume that all wages are subject to all payroll taxes.
Required:
Prepare the journal entries to record the payment of the May, 2015, payroll and to record the payroll taxes imposed on the employer.

Natural Hair Reports the Following Payroll Information for May, 2015 \quad

Natural Hair Reports the Following Payroll Information for May, 2015 $\quad$