Art Parrish,the Sole Employee of Parrish Sales,has Gross Salary for March

question 115

Essay

Art Parrish,the sole employee of Parrish Sales,has gross salary for March of $4,000.The entire amount is under the OASDI limit of $106,800,and thus subject to FICA.His year-to-date pay has already exceeded the $7,000 cap for FUTA and SUTA.Please provide the fourth journal entry in the payroll cycle to record the employer's payroll taxes.
$$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$$

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Definitions:

Developmental Period

A specific phase in an individual's life marked by unique physical, psychological, or emotional growth and change.

Sexual Maturity

The stage in which an individual reaches full reproductive ability and exhibits secondary sexual characteristics.

Adolescence

A developmental stage that occurs between childhood and adulthood, marked by significant physical, psychological, and social changes.

Secondary Sex Characteristics

Physiological signs of sexual maturation (such as breast development and growth of body hair) that do not involve the sex organs.