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Record in the General Journal the Payroll Tax Entry for the Week

Question 43

Essay

Record in the general journal the payroll tax entry for the week ended August 31. Use the following information gathered to make the entry. Record in the general journal the payroll tax entry for the week ended August 31. Use the following information gathered to make the entry. a) FICA tax rate is: OASDI 6.2% on a limit of $106,800, and Medicare is 1.45% b) Federal Unemployment is 0.8% on a limit of $7,000 c) State Unemployment is 2% on a limit of $7,000 a) FICA tax rate is: OASDI 6.2% on a limit of $106,800, and Medicare is 1.45%
b) Federal Unemployment is 0.8% on a limit of $7,000
c) State Unemployment is 2% on a limit of $7,000

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