The payroll register for Hillsdale Company for the week ended December 14 indicated the following:
|
Salaries |
$690,000 |
|
Social security tax withheld |
32,700 |
|
Medicare tax withheld |
10,350 |
|
Federal income tax withheld |
138,700 |
In addition, state and federal unemployment taxes were calculated at the rate of 0.8% and 5.2%, respectively, on $26,000 of salaries.
a. Journalize the entry to record the payroll for the week of December 14.
b. Journalize the entry to record the payroll tax expense incurred for the week of December 14.