The payroll register for D. Salah Company for the week ended May 18 indicated th

Question

The payroll register for D. Salah Company for the week ended May 18 indicated the following Salaries Federal income tax withheld The uives aa ot tothe 60% socal security tax and the 1.5% Medicare tax in adat on, state and fede al unemployment taxes were calculated atmente of SA, and a8% respecti eh. on S12.000, sar es. 1fan amont box ?not requre anentry, leave blank. $613,000 122,600 Journalne the entry to recond the payrll for the week of May 18 Medicare Tax Payable State Unempleyment Tax Payable x Federal unemployment Tan Payable X Gross pay is the amount that emplayees have earned before taxes and deductions. A portion of employees' earnings are owed for such items as state and federal taxes. Net pay is elso known as take home pay portion of employees Leaming Obijective 2 Joumalizae the entry to record the payroll tax expense incurned for the week of May 18 ocial Security Tax Expense x Medicare Tas Payable tate Unemplayment Tax Expense x Federal Unemployment Tax Experse x

Explanation / Answer

18-May Salaries expense 613000          Social security tax payable 36780 =613000*6%          Medicare tax payable 9195 =613000*1.5%          Federal Income tax payable 122600          Saalries payable 444425 18-May Payroll tax expense 46719          Social security tax payable 36780          Medicare tax payable 9195          State unemployment tax payable 648 =12000*5.4%          Federal unemployment tax payable 96 =12000*0.8%

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