According to a summary of the payroll of Guthrie Co., $560,000 was subject to the 6.0% social

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According to a summary of the payroll of Guthrie Co., $560,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $60,000 was subject to state and federal unemployment taxes.

a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.6%.

b. Journalize the entry to record the accrual of payroll taxes?

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Accounting

ISBN: 978-1337899451

27th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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Question Posted: May 08, 2017 11:37 AM

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According to a summary of the payroll of Guthrie Co., $560,000 was subject to the 6.0% social

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a Employers Payroll Taxes Amount Subject to Tax Tax Rate Social security ...View the full answer

Accounting

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