Journalize Payroll Tax The payroll register of Chen Engineering Co. indicates $1,956 of social security withheld and $489.00 of Medicare tax withheld on total salaries of $32,600 for the period. Earnings of $10,100 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%. 0 Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal places.

Journalize Payroll Tax The payroll register of Chen Engineering Co. indicates $1,956 of social security withheld and $489.00 of Medicare tax withheld on total salaries of $32,600 for the period. Earnings of $10,100 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%. 0 Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal places.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter8: Employer Taxes, Payments, And Reports

Section: Chapter Questions

Problem 1E

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