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According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (5.4%) and federal (0.8%) unemployment taxes. The journal entry to record accrued payroll taxes would include a _______.

User Djhocking
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1 Answer

1 vote

Answer:

Credit to salaries payable of $364,500

Step-by-step explanation:

There is important to undestand some vocabulary for business aproach.

A credit to salaries are the amount that the companies owed to their employees.

User Alejorivera
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