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iiheartshay
iiheartshay
26.03.2020 • 
Business

Urban Window Company had gross wages of $310,000 during the week ended July 15. The amount of wages subject to social security tax was $310,000, while the amount of wages subject to federal and state unemployment taxes was $35,000. Tax rates are as follows: Social security 6.0% Medicare 1.5% State unemployment 5.4% Federal unemployment 0.6% The total amount withheld from employee wages for federal taxes was $47,000. Required: A. Journalize the entry to record the payroll for the week of July 15\.\* B. Journalize the entry to record the payroll tax expense incurred for the week of July 15\.\* *Refer to the Chart of Accounts for exact wording of account titles.

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