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The payroll register of Castilla Heritage Co indicates $2,706 of social security withheld and $676.50 of Medicare tax withheld on total salaries of $45,100 for the period. Earnings of $13,100 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% and the state rate of 5.4%.


Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal places.

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Answer: Please refer to Explanation

Explanation:

The following are the Journal Entries.

DR Payroll Tax Expense $4,194.70

CR Social Security Taxes Payable $2,706

CR Medicare Taxes Payable $676.50

CR State Unemployment Tax Payable $707.40

CR Federal Unemployment Tax Payable $104.80

(To record Payroll Tax Expense)

Workings.

State Unemployment Tax Payable

= 13,100 * 5.4%

= $707.40

Federal Unemployment Tax Payable

= 13,100 * 0.8%

= $104.80

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