Question

Need help finding $ values for second part of problem. Thank you.
The payroll register for D. Salah Company for the week ended May 18 indicated the following: Salaries $615,000 Federal income tax withheld 165,000 The salaries were all subject to the 6.0% social security tax and the 1.5% Medicare tax. In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.8%, respectively, on $45,000 of salaries. Required: a. Journalize the entry to record the payroll for the week of May 18.* b. Journalize the entry to record the payroll tax expense incurred for the week of May 18.* *Refer to the Chart of Accounts for exact wording of account titles.

Answer 1

b. Entry to record the payroll tax expense
Date	General Journal	Debit	Credit
May 18	Payroll tax Expense                                      [Total taxes = $36,900 + $9,225 + $2,430 + $360]	$48,915
	Social Security Tax payable                    [$615,000 x 6%]		$36,900
	Medicare Tax payable                              [$615,000 x 1.5%]		$9,225
	State Unemployment Tax Payable              [$45,000 x 5.40%]		$2,430
	Federal Unemployment Tax Payable          [$45,000 x 0.80%]		$360
	(To record the payroll tax expense)