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Business, 19.09.2019 06:00 deaishaajennings123

The payroll of yellowcard company for september 2013 is as follows. total payroll was $485,900, of which $140,000 is exempt from social security tax because it represented amounts paid in excess of $106,800 to certain employees. the amount paid to employees in excess of $7,000 was $391,900. income taxes in the amount of $81,950 were withheld, as was $8,930 in union dues. the state unemployment tax is 3.5%, but yellowcard company is allowed a credit of 2.3% by the state for its unemployment experience. also, assume that the current fica tax is 7.65% on an employee’s wages to $106,800 and 1.45% in excess of $106,800. no employee for yellowcard makes more than $125,000. the federal unemployment tax rate is 0.8% after state credit. prepare the necessary journal entries if (a) the wages and salaries paid and (b) the employer payroll taxes are recorded separately. (round answers to 0 decimal places, e. g. 5,275. if no entry is required, select "no entry" for the account titles and enter 0 for the amounts .credit account titles are automatically indented when amount is entered. do not indent manually.)

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The payroll of yellowcard company for september 2013 is as follows. total payroll was $485,900, of w...
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