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  3. xthe following information about the payroll for t

xThe following information about the payroll for the week ended December 30 was...

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Accounting

xThe 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%2b. Assuming that the payroll for the last week of the year is to be paid on January 4 of the following fiscal year, journalize the entry to record the employer's payroll
taxes on the payroll to be paid on January 4. Because it is a new fiscal year, all $360,000 in salaries is subject to unemployment compensation taxes.
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