In January, gross earnings in Lugo Company totaled $80,000. All earnings are subject to 7.65% FICA taxes,

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In January, gross earnings in Lugo Company totaled $80,000. All earnings are subject to 7.65% FICA taxes, 5.4% state unemployment taxes, and 0.8% federal unemployment taxes. Prepare the entry to record January payroll tax expense.

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Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Jan 30, 2014 02:01 AM

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In January, gross earnings in Lugo Company totaled $80,000. All earnings are subject to 7.65% FICA taxes,

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Jan 31 Payroll Tax Expense 11080 F...View the full answer

Accounting Principles

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