Harriet Pandel, an employer, is subject to FICA taxes but

Harriet Pandel, an employer, is subject to FICA taxes but exempt from FUTA and SUTA taxes. During the last quarter of the year, her employees earned monthly wages of $16,900, all of which is taxable. The amount of federal income taxes withheld each month is $1,698. Journalize the payment of wages, and record the payroll tax on November 30.

Prior to posting the November 30 payroll transaction, FICA Taxes Payable—OASDI, FICA Taxes Payable— HI, and Employees FIT Payable had zero balances. Pandel must pay the FICA taxes and income taxes with- held on the November 30 payroll. Journalize the electronic transfer of the payroll taxes on December 17.

Descrption Debit Credit

Wages ___________

FICA Taxes Payable-OASDI _______________

FICA Taxes Payable-HI ________________

Employees FIT Payable ________________

Cash ________________

Payroll Taxes ______________

FICA Taxes Payable-OASDI ________________

FICA Taxes Payable-HI _________________

FICA Taxes Payable-OASDI _______________

FICA Taxes Payable-HI ______________

Employees FIT Payable ______________

Cash ______________

How Our Website Works

1. FILL IN OUR SIMPLE ORDER FORM

It has never been easier to place your order. Fill in the initial requirements in the small order form located on the home page and press “continue” button to proceed to the main order form or press “order” button in the header menu. Starting from there let our system intuitively guide you through all steps of ordering process.

2. PROCEED WITH THE PAYMENT

All your payments are processed securely through PayPal. This enables us to guarantee a 100% security of your funds and process payments swiftly.

3. WRITER ASSIGNMENT

Next, we match up your order details with the most qualified freelance writer in your field.

4. WRITING PROCESS

Once we have found the most suitable writer for your assignment, they start working on a masterpiece just for you!

5. DELIVERY

Once finished, your final paper will be available for download through your personal dashboard. You will also receive an email notification with a copy of your paper attached to it. Sometimes, the writer may leave a note for you about the order in case there is any additional information that they need to give you.

Leave a Reply

Your email address will not be published.