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  3. the unemployment tax on the three employees has no

The unemployment tax on the three employees has not been paid. Record the accrued unemployment...

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Accounting

The unemployment tax on the three employees has not been paid. Record the accrued unemployment tax on the salaries for the year. The unemployment tax rate is 5% and gross wages for all employees exceeded $7,000.

THE JOURNAL ENTRY SHOULD BE

PAYROLL TAX EXPENSE DEBIT

UNEMPLOYMENT TAX PAYABLE CREDIT

HOW DO I FIND THE DEBIT AND CREDIT FOR THIS??

INFORMATION THAT MIGHT BE HELPFUL

SALARIES EXPENSE

100000

EMP INCOME TAX PAYABLE

5000

FICA SS PAYABLE (100K X 6%)

6000

FICA MED PAYABLE (100K X 1.5%)

1500

CASH

87500

Answer & Explanation Solved by verified expert
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