Asked by Angel
Here is another question I am having trouble with, please help!!!!
3. The following totals for the month of March were taken from the payroll registrar of
the X company:
Salaries (all subject to social
security & Medicare taxes $14,000
Federal income taxes withheld 3,500
Medical insurance deductions 700
Life insurance deductions 400
Salaries subject to unemployment taxes 11,000
Medicare tax rate 1.45%
Social security tax rate 6.20%
Prepare journal entries to record the following. Round amounts to the nearest dollar.
3. The following totals for the month of March were taken from the payroll registrar of
the X company:
Salaries (all subject to social
security & Medicare taxes $14,000
Federal income taxes withheld 3,500
Medical insurance deductions 700
Life insurance deductions 400
Salaries subject to unemployment taxes 11,000
Medicare tax rate 1.45%
Social security tax rate 6.20%
Prepare journal entries to record the following. Round amounts to the nearest dollar.
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