Business, 19.07.2020 14:01, Thunderalesis7855

The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries $1,560,000
Social security tax withheld 93,600
Medicare tax withheld 23,400
Federal income tax withheld 312,000

In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.6%, respectively, on $260,000 of salaries.

Required:
a. Journalize the entry to record the payroll for the week of April 29.
b. Journalize the entry to record the payroll tax expense incurred for the week of April 29.

Answers: 1

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The payroll register for Gamble Company for the week ended April 29 indicated the following: Salari...