8:47 1 l LTE D A v2.cengagenow.com Calculation and Journal Entry for Employer Payroll Taxes Earnings for several employees for the week ended March 12, 20--, are as follows: Taxable Earnings Current...


8:47 1<br>l LTE D<br>A v2.cengagenow.com<br>Calculation and Journal Entry for Employer Payroll Taxes<br>Earnings for several employees for the week ended<br>March 12, 20--, are as follows:<br>Taxable Earnings<br>Current<br>Unemployment<br>Social<br>Employee Name<br>Earnings<br>Compensation<br>Security<br>Aus, Glenn E.<br>$720<br>$200<br>$720<br>Diaz, Charles K.<br>350<br>350<br>350<br>Knapp, Carol S.<br>1,240<br>1,240<br>Mueller, Deborah F.<br>850<br>115<br>850<br>Yeager, Jackie R.<br>920<br>35<br>920<br>1. Calculate the employer's payroll taxes expense for<br>the week ended March 12, 20--, assuming that FUTA tax<br>is 0.6%, SUTA tax is 5.4%, Social Security tax is 6.2%,<br>and Medicare tax is 1.45%.<br>2. Prepare the journal entry as of March 12, 20--.<br>Page:<br>DOC. POST.<br>DATE<br>ACCOUNT TITLE<br>DEBIT<br>CREDIT<br>NO.<br>REF.<br>20--<br>Mar. 12<br>3<br>4<br>4<br>%24<br>

Extracted text: 8:47 1 l LTE D A v2.cengagenow.com Calculation and Journal Entry for Employer Payroll Taxes Earnings for several employees for the week ended March 12, 20--, are as follows: Taxable Earnings Current Unemployment Social Employee Name Earnings Compensation Security Aus, Glenn E. $720 $200 $720 Diaz, Charles K. 350 350 350 Knapp, Carol S. 1,240 1,240 Mueller, Deborah F. 850 115 850 Yeager, Jackie R. 920 35 920 1. Calculate the employer's payroll taxes expense for the week ended March 12, 20--, assuming that FUTA tax is 0.6%, SUTA tax is 5.4%, Social Security tax is 6.2%, and Medicare tax is 1.45%. 2. Prepare the journal entry as of March 12, 20--. Page: DOC. POST. DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. 20-- Mar. 12 3 4 4 %24

Jun 10, 2022
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