Compute the employer's payroll tax expense based on the following totals found on a completed payroll register
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Compute the employer's payroll tax expense based on the following totals found on a completed payroll register dated November 15. bullet Gross pay = $ 41 comma 000.00 bullet Taxable earnings for FUTA/SUTA = $ 1 comma 250.00 bullet Taxable earnings for Social Security = $ 33 comma 000.00 bullet Deductions: FIT = $ 6 comma 400.00; SIT = $ 2 comma 870.00; FICA Social Security = $ 2 comma 046.00; FICA Medicare = $ 594.50 bullet Other information: FUTA rate = 0.6%; SUTA rate = 2.7% (Round to the nearest cent.) Question content area bottom Part 1 Total
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
4th edition
Authors: David Haddock, John Price, Michael Farina
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