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Determine the amount of Social Security and Medicare taxes

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Reference no: EM132720990

Problem - On December 31, the payroll register of Hamstreet Associates indicated the following information:

Wages and Salaries Expense $8,700.00

Employee Federal Income Tax Payable 920.00

United Way Contributions Payable 200.00

Earnings subject to Social Security tax 8,000.00

Required - Determine the amount of Social Security and Medicare taxes to be withheld and record the journal entry for the payroll, crediting Cash for the net pay.

Reference no: EM132720990

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