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Record the payroll tax expense for great lakes tutoring

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Reference no: EM132179729

Question - Great Lakes Tutoring had the following payroll information on February 28:

Employee Gross Pay

Cumulative Earnings Prior to This Payroll

R. Hill $4,000 $4,000

Assume: FICA tax rates are OASDI 6.2% on a limit of $106,800, and Medicare is 1.45%.

The state unemployment tax rate is 2% on the first $7,000.

The federal unemployment tax rate is 0.8% on the first $7,000.

Using the information above, the journal entry to record the payroll tax expense for Great Lakes Tutoring would include.

A. a debit to Payroll Tax Expense in the amount of $390.

B. a credit to FUTA Payable for $24.

C. a credit to SUTA Payable for $60.

D. All of the above

Reference no: EM132179729

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