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The following information about the payroll for the week ended December 30 was obtained from...

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Accounting

The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.:
Salaries: Deductions:
Sales salaries $175,000 Federal income tax withheld $63,360
Warehouse salaries 96,000 Social security tax withheld 21,600
Office salaries 89,000 Medicare tax withheld 5,400
$360,000 Retirement savings 7,920
Group insurance 6,480
$104,760
Tax rates assumed:
Social security, 6%
Medicare, 1.5%
State unemployment (employer only),5.4%
Federal unemployment (employer only),0.6%1b. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the entry on December 30, to record the employer's payroll taxes on
the payroll to be paid on December 31. Of the total payroll for the last week of the year, $18,000 is subject to unemployment compensation taxes.
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