A payroll summary for Today s Teen owned by Nikki Davis

A payroll summary for Today's Teen owned by Nikki Davis, for the quarter ending September
30, 2019, appears below. The business made the following electronic deposits of payroll
taxes:a. August 15 for July taxes.b. September 15 for August taxes.INSTRUCTIONS1. Prepare
the general journal entry on July 7, 2019, to record the employer's payroll tax expense on the
payroll ending that date. Use journal page 31. All earnings are subject to the following
taxes:Social security ...................6.2 percentMedicare .................................1.45FUTA
.......................................0.6SUTA .......................................2.22. Make the entries in general
journal form to record deposit of the employee income tax withheld and the social security and
Medicare taxes (both employees' withholding and employer's matching portion) on August 15
for July taxes and on September 15 for the August taxes.Analyze: How much would a SUTA
rate of 1.5 percent reduce the tax for the payroll of July 7?View Solution: A payroll summary for
Today s Teen owned by Nikki Davis
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