In January, the payroll supervisor determines that gross earnings for Halo Company are $70,000. All earnings are
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In January, the payroll supervisor determines that gross earnings for Halo Company are $70,000. All earnings are subject to 7.65% FICA taxes, 5.4% state unemployment taxes, and 0.6% federal unemployment taxes. Halo asks you to record a journal entry for the employer payroll taxes.
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Payroll Tax Expense 9555 FICA Taxes Payable 70000 X 765 5355 Fed...View the full answer
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Related Book For 
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell
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