P13-3 - August Payrolls Payroll for Week 1 Wages and...

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August Payrolls Payroll for Week 1 Wages and Salaries Expense ................................................... 1040.00 Withholding Taxes Payable (10% X 1040) .................. 104.00 FICA Taxes Payable (7.65% X 1040) .......................... 79.56 Union Dues Payable (2% X 1040) ................................ 20.80 Cash ............................................................................... 835.64 Computation of wages & salaries expense (200 + 150 + 110 + 250 + 330) = 1040 Payroll Tax Expense ................................................................ 94.74 FICA Taxes Payable (7.65% X 1040) .......................... 79.56 Federal Unemployment Tax Payable ............................ 3.68 [.8% X (200 + 150 + 110)] State Unemployment Tax Payable ................................ 11.50 (2.5% X 460) Payroll for Week 2 and Week 3 Vacation Wages Payable ......................................................... 590.00 Wages and Salaries Expense ................................................... 450.00 Withholding Taxes Payable (10% X 1040) .................. 104.00 FICA Taxes Payable (7.65% X 1040) .......................... 79.56 Union Dues Payable (2% X 1040) ................................ 20.80 Cash ............................................................................... 835.64 Computation of vacation wages payable (300 + 220 + 660) ÷ 2 Payroll Tax Expense ................................................................ 94.74 FICA Taxes Payable (7.65% X 1040) ..........................
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