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TB EX Qu. 8-163 Midwest Shipping pays employees at the.. Midwest Shipping pays employees at...

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Accounting

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TB EX Qu. 8-163 Midwest Shipping pays employees at the.. Midwest Shipping pays employees at the end of each month. Payroll information is listed below for January, the first month of the fiscal year. Assume that none of the employees exceeds the Federal unemployment tax maximum salary of $7000 in January Salaries Federal and state income taxes withheld Tederal unemployment tax rate State unemployment tax reke (after FUTA deduction) Social Security (PIC) tax rate $900,000 140,000 0.800 5.400 7.651 Record salaries expense and payroll tax expense for the January pay period. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the employee salary expense and withholdings View transaction list Journal entry worksheet Record the employee salary expense and withholdings. Note: Enter debits before credits Date Debit Credit General Journal Salaries Expense Jan 31 Record entry Clear entry View general Journal View transaction list Journal entry worksheet

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