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England Company had gross wages of $50,000 during the week ended December 10. The amount of wages subject to federal and state unemployment taxes was $15,000. Total Amount withheld from employee wages for federal taxes was $98,000.
Tax Rates: Social Security = 7%
Medicare = 1.5%
State Unemployment = 4.2%
Federal Unemployment = 0.8%
a) Journalize the entry to record the payroll for the week of December 10
b) Journalize the entry to record the payroll tax expense incurred for the week of Dec 10.
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