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ACC - foothill company

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Question;The following totals for the month of march were taken from the payroll register of the foothill companysalaries (all subject to social security and medicare taxes) $14,000federal income tax withheld $3500medical insurance deductions $700life insurance deductions $400salaries subject to unemployment taxes $11,000medicare tax rate 1.45%social security tax rate 6.2 %please journal entries without explanations to record the following. round amounts to the nearest dollar.(a) monthly payroll(b) accrual of employers payroll taxes (assuming the social security and medicare taxes to be equal to the amount for employees, a FUTA tax of.8 percent, and a state unemployment tax of 5.4 percent)

 

Paper#38987 | Written in 18-Jul-2015

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