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  3. payroli tax entries according to a summary of the

Payroli tax entries According to a summary of the payroll of Mountain Streaming Co0,$120,000 was...

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Accounting

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Payroli tax entries According to a summary of the payroll of Mountain Streaming Co0,$120,000 was subject to the 6,0% social security tax and the 1.5% Medicare tax. Also, $30,000 was subject to state and federal unemployment taxes. a. Determine the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%. Feathack Toreck My Wok Remember that there is typically a maximum amount of earnings subject to state and federal unemployment taxes. b. Journalize the entry to record the accrual of payroll taxes. If an amount box does not require an entry, leave it blank

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