The summary of the payroll for the monthly pay period ending July 15 indicated the following: $$\begin{array} { l r }
\text { Sales salaries } & \$ 125,000 \
\text { Federal income tax withheld } & 32,300 \
\text { Office salaries } & 35,000 \
\text { Medical insurance withheld } & 7,370 \
\text { Social security tax withheld } & 10,200 \
\text { Medicare tax withheld } & 2,550
\end{array}$$
Journalize the entries to record (a) the payroll and (b) the employer's payroll tax expense for the month. The state unemployment tax rate is 5.4%, and the federal unemployment tax rate is 0.8%. Only $25,000 of salaries are subject to unemployment taxes.

Question

The summary of the payroll for the monthly pay period ending July 15 indicated the following: $$\begin{array} { l r } 
\text { Sales salaries } & \$ 125,000 \
\text { Federal income tax withheld } & 32,300 \
\text { Office salaries } & 35,000 \
\text { Medical insurance withheld } & 7,370 \
\text { Social security tax withheld } & 10,200 \
\text { Medicare tax withheld } & 2,550
\end{array}$$ ​
Journalize the entries to record (a) the payroll and (b) the employer's payroll tax expense for the month. The state unemployment tax rate is 5.4%, and the federal unemployment tax rate is 0.8%. Only $25,000 of salaries are subject to unemployment taxes.

Quizplus · Accepted Answer

The Answer of The summary of the payroll for the monthly pay period ending July 15 indicated the following: $$\begin{array} { l r } 
\text { Sales salaries } & \$ 125,000 \
\text { Federal income tax withheld } & 32,300 \
\text { Office salaries } & 35,000 \
\text { Medical insurance withheld } & 7,370 \
\text { Social security tax withheld } & 10,200 \
\text { Medicare tax withheld } & 2,550
\end{array}$$ ​
Journalize the entries to record (a) the payroll and (b) the employer's payroll tax expense for the month. The state unemployment tax rate is 5.4%, and the federal unemployment tax rate is 0.8%. Only $25,000 of salaries are subject to unemployment taxes.

The Summary of the Payroll for the Monthly Pay Period