help please The payroll of Blossom Company for September 2025 is...
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The payroll of Blossom Company for September 2025 is as follows. Total payroll was $492,000, of which $118,000 is exempt from Social Security tax because it represented amounts paid in excess of $142.800 to certain employees. The amount paid to employees in excess of $7,000 (the maximum for both federal and state unemployment taxes) was $402,000. Income taxes in the amount of $78,800 were withheld, as was $9,400 in union dues, The state unemployment tax is 3.5%, but Blossom Company is allowed a credit of 2.3% by the state for its unemployment experience. Also. assume that the current FICA tax is 7.65% on an employee's wages to $142,800 and 1.45% in excess of $142,800. The federal unemployment tax rate is 0.8% after state credit. Prepare the necessary journal entries if the wages and salaries paid and the employer payroll taxes are recorded separately. (If no entry is required, select "No Entry' for the occount titles and enter O for the amounts. Credit account titles are outomatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) The payroll of Blossom Company for September 2025 is as follows. Total payroll was $492,000, of which $118,000 is exempt from Social Security tax because it represented amounts paid in excess of $142.800 to certain employees. The amount paid to employees in excess of $7,000 (the maximum for both federal and state unemployment taxes) was $402,000. Income taxes in the amount of $78,800 were withheld, as was $9,400 in union dues, The state unemployment tax is 3.5%, but Blossom Company is allowed a credit of 2.3% by the state for its unemployment experience. Also. assume that the current FICA tax is 7.65% on an employee's wages to $142,800 and 1.45% in excess of $142,800. The federal unemployment tax rate is 0.8% after state credit. Prepare the necessary journal entries if the wages and salaries paid and the employer payroll taxes are recorded separately. (If no entry is required, select "No Entry' for the occount titles and enter O for the amounts. Credit account titles are outomatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.)
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