Lesson 35: Recording Employer Payoll taxes

How do you compute the employer’s portion of Social Security and Medicare taxes based on the gross pay of employees? What rates apply to these calculations?

What journal entries are required to record the employer’s payroll tax liabilities? Which accounts are debited and credited?

What steps can you take to verify the accuracy of your payroll tax calculations and ensure they are correctly recorded?

federal unemployment tax

state unemployment tax

CTE Business & Finance Technology

F. Special Applications: Apply appropriate accounting principles to payroll.

22. Prepare and maintain payroll records.

The SAT measures student proficiency in math reading, language, and writing. With strong scores, accounting students set themselves up for successful entry into accounting and finance programs.

Description: To understand the employer's responsibility for payroll taxes, calculate employer payroll taxes, and record the related journal entries.

Purpose: equip students with the skills to accurately calculate and record employer payroll taxes

DOK Level 1: Recall

Explain the types of employer payroll taxes that need to be calculated and recorded?

DOK Level 2: Skill/Concept

What are the steps involved in recording employer payroll taxes in the accounting journal?

Small business owners often handle payroll themselves or rely on accounting software. Accurate payroll tax calculations and record-keeping are crucial for maintaining legal compliance and financial health

Difference between employee and employer payroll taxes

Sampling, modeling, one one instruction, Google classroom or Moodle. Paper or or online assignments, online instructional tools, videos, textbook or online textbook, excel real world application of information, Spanish version available for ELL students

Guided Notes

Worksheet

Vocabulary assignment

Work together/on own problems, mastery or source document problems

Moodle quiz

Century 21, Accounting,  General Journal, 11th edition, online/paper edition

Online working papers (Mindtap)

Microsoft Excel software

Online instructional tools