Journalize the entry to record the payroll tax

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Townson Company had gross wages of $200,000 during the week ended December 10. The amount of wages subject to social security tax was $180,000, while the amount of wages subject to federal and state unemployment taxes was $24,000. Tax rates are as follows:

Social Security 6.0%
Medicare 1.5%
State Unemployment 5.3%
Federal Unemployment 0.8%


The total amount withheld from employee wages for federal taxes was $32,000.
Required:

1. Journalize the entry to record the payroll for the week of December 10. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".


2. Journalize the entry to record the payroll tax expense incurred for the week of December 10. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0". 

Reference no: EM13152165

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