According to a summary of the payroll of Scotland Company, salaries for the period were...
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Accounting
According to a summary of the payroll of Scotland Company, salaries for the period were $400,000. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (5.4%) and federal (0.8%) unemployment taxes. All earnings are subject to social security tax of 6.0% and Medicare tax of 1.5%.
| (a) | Journalize the entry to record the accrual of payroll. If required, round your answers to the nearest cent. |
| (b) | Journalize the entry to record the accrual of payroll taxes. If required, round your answers to the nearest cent. |
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