According to records, Borges Distributors, $1,110,000 was subject to 6.0% SS tax and the 1.5%...
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According to records, Borges Distributors, $1,110,000 was subject to 6.0% SS tax and the 1.5% Medicare tax. Also, $50,000 was subject to state and federal unemployment taxes.
a. Calculate the employers payroll taxes, using 4.2% for SUTA, and .8% for FUTA.
b. Journalize the entry to record the payroll taxes.
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