Question

ST1-(SITI U) Uuestion Help Berry Company has monthly salaries of $20,000. Assume Berry pays all the standard payroll taxes, no employees have reached the payroll tax limits, total income tax withheld is $2.000, and the only payroll deductions are payroll taxes. Journalize the accrual of salaries expense, accrual of employer payroll taxes, and payment of employee and employer payroll taxes for Berry Company. (Assume all of the monthly salary is subject to FUTA and SUTA. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (Click the icon to view payroll tax rate information.) Begin with the entry to accrue salaries expense and payroll withholdings for the employee Date Accounts and Explanation Credit Debit 20,000 Salaries Expense FICA-OASDI Taxes Payable FICA-Medicare Taxes Payable Employee Income Taxes Payable Salaries Payable To record salaries expense and payroll withholdings. 1,240 290 1333.36 17137 i More Info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $118.500 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $118.500 earned; Medicare: 1.45% on all earnings, FUTA: 0.6% on first $7,000 earned: SUTA: 5.4% on first $7,000 earned. Print Done Choose from any list or enter al

stuck on that last i just keep calculating it wrong

Answer 1

Accounts and explanation	Debit	Credit
Salaries Expense	$ 20,000
FICA-OASDI Taxes Payable		$ 1,240
FICA-Medicare Taxes Payable		$ 290
Employee Income Taxes Payable		$ 2,000
Salaries Payable		$ 16,470
(To record salaries expense and payroll withholdings)
Payroll Taxes Expenses	$ 2,730
FICA- OASDI taxes Payable		$ 1,240
FICA-Medicare Taxes Payable		$ 290
FUTA payable		$ 120
SUTA Payable		$ 1,080
( To record payroll taxes expenses)