The following summary data for the payroll period ended on April 10, 2015, are available for Brac
Question:
The following summary data for the payroll period ended on April 10, 2015, are available for Brac Construction Ltd.: the payroll
Gross pay............................... $ ?
FICA tax Withholdings............... ?
Income tax withholdings............ 6,880
Medical insurance contributions.... 560
Union dues............................. 320
Total deductions....................... 10.820
Net pay................................. $29,180
Required:
a. Calculate the missing amounts and then determine the FICA tax withholding percentage.
b. Use the horizontal model (or write the journal entry) to show the effects of the payroll accrual.
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Related Book For
Accounting What the Numbers Mean
ISBN: 978-1259535314
11th edition
Authors: David Marshall, Wayne McManus, Daniel Viele
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