Create the employers september journal entries

Reference no: EM131920644

Problem

MRI Company has one employee. FICA Social Security taxes are 6.2% of the first $106,800 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For MRI, its FUTA taxes are 0.8% and SUTA taxes are 2.9% of the first $7,000 paid to its employee.

Gross Pay through August Gross Pay for September
a. $ 6,600 $ 825

Prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities.

Reference no: EM131920644

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