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Harriet Pandel, an employer, is subject to FICA taxes but exempt from FUTA and SUTA taxes....

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 ______________

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