The summary of the payroll for the monthly pay period ending July 15 indicated the following:

Illustrate the effects on the accounts and the financial statements of (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 $30,000 of salaries are subject to unemployment taxes.

Question

The summary of the payroll for the monthly pay period ending July 15 indicated the following:
  
Illustrate the effects on the accounts and the financial statements of (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 $30,000 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:
  
Illustrate the effects on the accounts and the financial statements of (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 $30,000 of salaries are subject to unemployment taxes.

The Summary of the Payroll for the Monthly Pay Period