According to a summary of the payroll of Scotland Company, $450,000 According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.2% social security tax and $500,000 was subject to the 1.45% Medicare tax. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record accrued salaries would include a Accounting Business Financial AccountingACCT 220 7980
