Prepare the necessary journal entries

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Problem

The payroll of Sarasota Company for September 2025 is as follows. Total payroll was $450,000 of which $118,000 is exempt from Social Security tax because it represented amounts paid in excess of $142,800 to certain employees. The amount paid to employees in excess of $ 7,000 maximum for both federal and state unemployment taxes) was $439,000. Income taxes in the amount of $77,200 were withheld, as was $9,600 in union dues. The state unemployment experience. Also, assume that the current FICA tax is 7.65% on an employee's wages to $142,800 and 1.45% in excess of $142,800. Get the instant assignment help. The federal unemployment tax rate is 0.8% after state credit. Prepare the necessary journal entries if the wages and salaries paid and the employer payroll taxes are recorded separately.

Reference no: EM133978268

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