contestada

Jackson Autos has one employee. As of March 30, their employee had already earned $6,300. For the pay period ending April 15, their employee earned an additional $2,000 of gross wages. Only the first $7,000 of annual earnings are subject to FUTA of 0.6% and SUTA of 5.4%. The journal entry to record the employer's unemployment payroll taxes for the period ending April 15, would be:________

Respuesta :

Answer:

Payroll Taxes expenses                      $79.80

Federal unemployment tax payable    $42.00               [ $7,000 × 0.60 ]

State Unemployment tax payable       $37.80               [ $7,000 × 5.4% ]

Explanation:

Earning of the employee as of March 30 = $6,300

Additional earning of the employee for the pay period of ending April 15 = $2,000

FUTA = 0.6% on the first $7,000 of annual earnings

SUTA = 5.4% on the first $7,000 of annual earnings

Now,

The Journal entry to record the employers unemployment payroll taxes for the period ending April 15

Payroll Taxes expenses                      $79.80

Federal unemployment tax payable    $42.00             [ $7,000 × 0.60 ]

State Unemployment tax payable       $37.80             [ $7,000 × 5.4% ]

Otras preguntas