October 30, 2016 admin

Accrued Taxes—Unemployment

Liabilities and Net Worth

ACCRUED TAXES—UNEMPLOYMENT LIABILITY ACCOUNT
2400

ACCOUNT EXPLANATION
Unemployment taxes accrued on salaries and wages paid to employees.
TRANSACTIONS
  Jrnl. Dr. Cr.
  Monthly accrual for federal unemployment tax SE
    Payroll Taxes 8100
      Accrued Taxes—Unemployment 2400
             
  Payment of federal unemployment tax CD
    Accrued Taxes—Unemployment 2400
      Cash in Bank—General 1001
COMMENTS
  • Remittance of these taxes should be in conformity with applicable government regulations.