Denise co has five employees each of whom earns 3000 per

Reference no: EM13601102

DeNise Co. Has five employees, each of whom earns $3000. Per month and has been employed since January 1. FICA Social Security taxes are 6.2% of the first $102,000 paid to each employee , and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.8% and SUTA taxes are 5.4% of the first $7000 paid to each employee. Prepare the March 31 Journal entry to record the March payroll taxes expense.

Reference no: EM13601102

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