According to a summary of the payroll of bailing co 880000, Ask an Expert

Accounting

According to a summary of the payroll of Bailing Co., 880,000 was subject to the 6.0% social security tax and the 1.5%Medicare tax. Also , $40,000 was subject to state and federal unemployment taxes.

a. Calculate the employer payroll taxes, using the following rates: state unemployment, 0.8% $_____________.

b. Journalize the entry to record the accrual of payroll taxes.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92022456

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