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    Lektime's Avatar
    Lektime Posts: 1, Reputation: 1
    New Member
     
    #1

    May 3, 2014, 04:51 PM
    How to journalize $198.40 fica taxes, $19.84 fed unempolyment taxes and $133.92 stat
    How do you journalize $198.40 fica, $19.54 federal unemployment taxes and $133.92 state unempployment taxes
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
     
    #2

    May 4, 2014, 09:04 AM
    Are you paying them or are they just a liability.

    Debit FICA Expense for the amount
    Debit Federal Unemployment Taxes Expense for the amount
    Debit State Unemployment Taxes Expense for the amount
    Credit Cash for the total amount(if being paid) or Taxes Payable(if being paid at a later time)

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