According to a Summary of the Payroll of Sinclair Company

Essay

According to a summary of the payroll of Sinclair Company, $545,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $10,000 was subject to state and federal unemployment taxes.(a)Calculate the employer's payroll taxes using the following rates: state unemployment tax, 5.4%; federal unemployment tax, 0.8%.(b)Journalize the entry to record the accrual of the employer's payroll taxes.