Exercise Record payrol a08 Artine Temperary Services jATS pa

Exercise Record payrol a08 Artine Temperary Services jATS) pays employees monthly Paytol nisrmation h inded belkow for January , the trst month of ATS\'s tecal hat none of the sedera Required ecord sataries expense and payroll lax expense for the January pay peod (it no entry is required for a paricular trasacton seiect No joumaley wre n the hest account neld ) Journal entry worksheet Record the employer payroll tax expense Note:Enter debits befare creds 1901 payment c POP

Solution

Date Account Debit credit Jan 31 Payroll tax expense 74790 FICA tax payable [540000*7.65%] 41310 unemployment tax payable -state [540000*5.4%] 29160 unemployment tax payable -Federal [540000*.8%] 4320 Date Account Debit credit salary expense 540000 FICA tax payable-Employee portion 41310 Employee Income tax payable 108000 salary payable 390690