The company accrues $ 3 0 , 0 0 0 of payroll on Wednesday which will be
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The company accrues $ of payroll on Wednesday which will be payable on Friday. Income tax withholding is of payroll, assume standard Social Security and Medicare rates with no discretionary withholdings. This payroll is towards the end of the year, and everyone has exceed the cap for FUTA and SUTA. Journalize the payroll including the employer portion of payroll taxes. How much will the employees be paid on Friday? Show math please.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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