According to a Summary of the Payroll of Sinclair Company $5.4 \%$

question 98

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, $5.4 \%$ ; unemployment tax, $0.8 \%$ .
(b) Journalize the entry to record the accrual of the employer's payroll taxes.

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Definitions:

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A mental disorder characterized by disruptions in thought processes, perceptions, emotional responsiveness, and social interactions.

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The period of time during which a fetus develops inside the mother's womb, from conception to birth.

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