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The Payroll Summary for December 31 for Waters Co

question 32

Essay

The payroll summary for December 31 for Waters Co. revealed total earnings of $80,000. Earnings subject to 6% social security tax were $60,000; earnings subject to 1.5% Medicare tax were $80,000; and earnings of $3,000 were subject to 4.3% state and 0.8% federal unemployment compensation tax. Journalize the entry to record the accrual of payroll taxes.


Definitions:

Sexual Orientation

An inherent or immutable enduring emotional, romantic or sexual attraction to other people.

Morally Censure

It refers to the act of expressing strong disapproval of someone's actions based on moral grounds.

Homosexual Orientation

A sexual orientation characterized by attraction to members of the same sex.

Heterosexual Orientation

The sexual attraction or preference for individuals of the opposite sex.

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