Question

The payroll register of Konrath Co. indicates $13,200 of social security withheld and $3,300 of Medicare tax withheld on total salaries of $220,000 for the period. Earnings of $35,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% and the state rate of 5.4%. On December 31, provide the journal entry to record the payroll tax expense for the period.

Answer 1

Payroll Tax Expense	18670
Social Security Taxes Payable		13200
Medicare Taxes Payable		3300
State Unemployment Tax Payable		1890	=35000*5.4%
Federal Unemployment Tax Payable		280	=35000*0.8%