Net salary to the employee Salaries Expense 10500.

00
FIT Payable 1985.00
SIT Payable 800.00
FICA tax payable 651.00
Medicare 152.25
Cash 6911.75

Employer’s portion of payroll taxes FICA expense 651.00

Medicare Expense 152.25
SUTA 225.00
FUTA 18.00
FICA tax payable (6.2%) 651.00
Medicare tax payable (1.45%) 152.25
SUTA payable (5.0%) 225.00
FUTA payable (0.6%) 18.00

Sudeep: 4491.25
Pradeep: 2420.5

6911.75

Employer Sudeep: 708.75

Pradeep: 337.5
Net salary to the employee Salaries Expense 15000.00
FIT Payable 3400.00
SIT Payable 850.00
FICA tax payable 930.00
Medicare 217.50
Cash 9602.50

Employer’s portion of payroll taxes FICA expense 930.00

Medicare Expense 217.50
SUTA
FUTA
FICA tax payable (6.2%) 930.00
Medicare tax payable (1.45%) 217.50
SUTA payable (5.0%)
FUTA payable (0.6%)

Sudeep: 4491.25
Pradeep: 2420.5

6911.75

Employer Sudeep: 708.75

Pradeep: 337.5