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LO1 P10-4B. Recording Payroll and Payroll Taxes The following data are taken from Jefferson Distribution...

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LO1 P10-4B. Recording Payroll and Payroll Taxes The following data are taken from Jefferson Distribution Company's March payroll: S34,000 54,000 ,000 $95,000 S96,000 S96,000 66,000 76,000 18,600 Administrative salaries Sales salaries Custodial salaries Total payroll Salaries subject to 1.45 percent Medicare tax. Salaries subject to 8.2 percent Social Security tax Salaries subject to federal unemployment taxes Salaries subject to state unemployment taxes Federal income taxes withheld from all salaries Assume that the company is subject to a 5.2 percent state unemployment tax and an 0.6 percent federal Required Record the following in general journal form on March 3: a. Accrual of the monthly payroll. b. Payment of the net payroll. c. Accrual of the employer's payroll taxes. (Assume that the FICA tax matches the amount withheld). Payment of these payroll-related liabilities. (Assume that all are settled at the same time.) d

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