Answer To: Payroll Tax Entries Cedarville Company pays its office employee payroll weekly. Below is a partial...
Robert answered on Dec 31 2021
(Payroll tax entries) Cedarville Company pays its office employee payroll weekly
Entries for Payroll 1
Wages and Salaries Expense
1,040.00*
Withholding Taxes Payable (10% X $1,040)*
104.00
FICA Taxes Payable (7.65% X $1,040)
79.56
Union Dues Payable (2% X $1,040)
20.80
Cash
835.64
*$200 + $150 + $110 + $250 + $330 = $1,040
Payroll Tax Expense
94.74
FICA Taxes Payable (7.65% X $1,040)
79.56
Federal Unemployment Tax Payable
[.8% X ($200 + $150 + $110)]
3.68
State Unemployment Tax...