JR Corporation’s payroll for December, 2015:
Administrative salaries $16,000
Sales salaries 32,000
Total payroll $48,000
Wages subject to FICA taxes (6.2% + 1.45%) $48,000
Wages subject to FUTA and state unemployment taxes $12,000
Federal income taxes withheld from all salaries $ 6,200
The company is required to pay a 2.7% state unemployment tax and a 0.8% federal unemployment tax.
a. Record the journal entry for the payroll.
b. Record the entry for the employer’s payroll taxes.
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