Monthly payroll

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Reference no: EM13546730

The following totals for the month of march were taken from the payroll register of the foothill company

salaries (all subject to social security and medicare taxes) $14,000
federal income tax withheld $3500
medical insurance deductions $700
life insurance deductions $400
salaries subject to unemployment taxes $11,000
medicare tax rate 1.45%
social security tax rate 6.2 %
please journal entries without explanations to record the following. round amounts to the nearest dollar.
(a) monthly payroll
(b) accrual of employers payroll taxes (assuming the social security and medicare taxes to be equal to the amount for employees, a FUTA tax of .8 percent, and a state unemployment tax of 5.4 percent)

Reference no: EM13546730

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