Prepare the journal entry to record salaries

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Problem

Marshall Co. employs a staff of at total monthly $60.000. The company withholds federal income tax at 20% and state income tax employees. FICA tax, 7.65%; at 3% for all In addition, the following tax rates apply: tax, 0.8%; state unemployment tax, 2.7%.

Required:

Prepare the journal entry to record salaries and employee withholding items for the month of January.

Prepare the journal entry to record employer payroll taxes for the month of January.

Reference no: EM131912774

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