Prepare the employer september journal entries

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Question - 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. $ 6,400 $800

b. 18,200 2,100

c. 100,500 8,000

(1) Using the data in situation a of the above problem, prepare the employer's September 30 journal entries to record salary expense and its related payroll liabilities for this employee. The employee's federal income taxes withheld by the employer are $135 for this pay period. "

(2) Using the data in situation a of above exercise, prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities.

Reference no: EM131809049

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