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problem: Gross pay for the employees of Mr. Scott Corporation for February 28, 2008 is as follows: 

Sales Salaries

$338,000

Office Salaries

148,000

Maintenance Salaries

95,000

Total Salaries

$581,000

Data on withholding & payroll taxes is shown below:

1.

Federal Income tax withheld

$72,625

2.

Stale income tax withheld

17,100

3.

Health insurance withheld

8,200

4.

Pension contributions withheld

25,125

5.

FICA rate is 7.7%

 

6.

SUTA tax is $98,000 and FUTA taxes are $2,215

 

Required:

[A] Prepare journal entry to record the February payroll
[B] Record the journal entry for the employer's payroll taxes 
[C] Prepare journal entry to record the employer's monthly payment of payroll tax liabilities

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