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Your answer is partially correct. Try again. Helen Strands regular hourly wage rate is $14, and she receives an hourly rate

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Answer:

No Date Particulars Debit ($) Credit ($)
(a) Jan 15 Payroll tax expense $54.09
FICA taxes payable $54.09
(To record the payroll and payroll taxes)

Working Notes:

FICA tax payable = (Normalwages+Extrawages)x FICA taxrate
=(40 x $14 + 7 x $21) x 7.65%
=($560 + $147) x 7.65%
=$707 x 7.65%
=$54.09

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