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QS 9-6 Recording employer payroll taxes LO P3 Merger Co. has 10 employees, each of whom earns $1.950 per month and has been e
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Date Accounts Titles Debit $ Credit $
31-Mar Payroll tax expense           2,661.75
     FICA - social security taxes (1950*10*6.2%)       1,209.00
    FICA - Medicare taxes (1950*10*1.45%)          282.75
      State unemployment taxes payable (1950*10*5.4%)       1,053.00
     Federal unemployment taxes payable (1950*10*0.6%)          117.00
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