50.1K

Verified Solution

Link Copied!

Exercise 8-9A Record payroll (LO8-3) Airline Temporary Services (ATS) pays employees monthly Payroll information is listed below for January, the first month of ATS's fiscal year. Assume that none of the employees exceeds the federal unemployment tax maximum salary of 57000 in January book Salaries expense Federal and state income tax withheld Federal unenplayment tax rate stare unemployment to rate (after ruta deduction) Social security (FIC) tax rate 5470,000 314,000 0.0% 5. 2.05 Required: Record salaries expense and payroll tax expense for the January pay period. (If no entry is required for a particular transaction select "No Journal Entry Required" in the first account field.) Journal entry worksheet > acord the employee salary, wings and tries pavable, Credit Exercise 8-9A Record payroll (LO8-3) Airline Temporary Services (ATS) pays employees monthly Payroll information is listed below for January, the first month of ATS's fiscal year. Assume that none of the employees exceeds the federal unemployment tax maximum salary of $7000 in January Salaries expense Federal and state income tax withheld Federal unemployment tax rate State unemployment tax rate (after TUTA deduction) Social security (ICA) tax rate 5470,000 94,000 0.0% 5.40 7.65% Required: Record salaries expense and payroll tax expense for the January pay period. (If no entry is required for a particular transaction, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet

Answer & Explanation Solved by verified expert

See Answer