The employees of Donnelly Music Company earn total wages of $4,690 during January. The total amount is
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The employees of Donnelly Music Company earn total wages of $4,690 during January. The total amount is taxable under FICA, FUTA, and SUTA. The state contribution rate for the company is 3.6%. The amount withheld for federal income taxes is $685. Journalize the payment of the monthly wages, and record the payroll taxes.
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Wages 469000 FICA Taxes PayableOASDI 29078 FICA Taxes Payabl...View the full answer
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