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 emp;oyees earned monthly wages of 16,900, all of which is taxable.The amount of federal income taxes withheld each nomth is 1,698. Prior to posting the November 25 payroll transactions, FICA taxes payable-OASDI, FICA taxes payable-HI, and Employees FIT Payable had zero balances. Pandel muct pay the FICA taxes and income taxes withheld on the November 25 payroll. Journalize the electronic transfer of the payroll taxes on December 15.

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Financial Accounting: Harriet pandel an employer is subject to fica taxes but
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