Journal Entries for Payment of Employer Payroll Taxes Jason Chen owns a business called Chen Home Building. He does his banking at Citizens National Bank in Seattle, Washington. The amounts in his general ledger for payroll taxes and the employees' withholding of Social Security, Medicare, and federal income tax payable as of April 15 of the current year are as follows: Social Security tax payable (includes both employer and employee) $11,250 Medicare tax payable (includes both employer and employee) 2,625 FUTA tax payable 580 SUTA tax payable 3,930 Employee income tax payable 6,825 Journalize the quarterly payment of the employee federal income taxes and Social Security and Medicare taxes on April 15, 20--, and the payments of the FUTA and SUTA taxes on April 30, 20--. If an amount box does not require an entry, leave it blank.
Journal Entries for Payment of Employer Payroll Taxes Jason Chen owns a business called Chen Home Building. He does his banking at Citizens National Bank in Seattle, Washington. The amounts in his general ledger for payroll taxes and the employees' withholding of Social Security, Medicare, and federal income tax payable as of April 15 of the current year are as follows: Social Security tax payable (includes both employer and employee) $11,250 Medicare tax payable (includes both employer and employee) 2,625 FUTA tax payable 580 SUTA tax payable 3,930 Employee income tax payable 6,825 Journalize the quarterly payment of the employee federal income taxes and Social Security and Medicare taxes on April 15, 20--, and the payments of the FUTA and SUTA taxes on April 30, 20--. If an amount box does not require an entry, leave it blank.
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter9: Payroll Accounting: Employer Taxes And Reports
Section: Chapter Questions
Problem 5SEA: JOURNAL ENTRIES FOR PAYMENT OF EMPLOYER PAYROLL TAXES Angel Ruiz owns a business called Ruiz...
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Jason Chen owns a business called Chen Home Building. He does his banking at Citizens National Bank in Seattle, Washington. The amounts in his general ledger for payroll taxes and the employees' withholding of Social Security, Medicare, and federal income tax payable as of April 15 of the current year are as follows:
Social Security tax payable (includes both employer and employee) | $11,250 |
Medicare tax payable (includes both employer and employee) | 2,625 |
FUTA tax payable | 580 |
SUTA tax payable | 3,930 |
Employee income tax payable | 6,825 |
Journalize the quarterly payment of the employee federal income taxes and Social Security and Medicare taxes on April 15, 20--, and the payments of the FUTA and SUTA taxes on April 30, 20--.
If an amount box does not require an entry, leave it blank.
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