The summary of the payroll for the monthly pay period ending July 15 indicated the following:
$\begin{array}{ll}
\$ 125,000 & \text { Saless salaries } \
32,300 & \text { Federal income tax withheld } \
35,000 & \text { Office salaries } \
7,370 & \text { Medical insurance withheld } \
10,200 & \text { Social security tax withheld } \
2,550 & \text { Medicare tax withheld }
\end{array}$ 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 3.1%, 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:
 $\begin{array}{ll}
\$ 125,000 & \text { Saless salaries } \
32,300 & \text { Federal income tax withheld } \
35,000 & \text { Office salaries } \
7,370 & \text { Medical insurance withheld } \
10,200 & \text { Social security tax withheld } \
2,550 & \text { Medicare tax withheld }
\end{array}$ 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 3.1%, 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:
 $\begin{array}{ll}
\$ 125,000 & \text { Saless salaries } \
32,300 & \text { Federal income tax withheld } \
35,000 & \text { Office salaries } \
7,370 & \text { Medical insurance withheld } \
10,200 & \text { Social security tax withheld } \
2,550 & \text { Medicare tax withheld }
\end{array}$ 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 3.1%, 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