At the end of the weekly payroll period on June 30, 2016, the payroll register of Cordts
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At the end of the weekly payroll period on June 30, 2016, the payroll register of Cordts Consultants showed employee earnings of $71,900. Determine the firm's payroll taxes for the period. Use a social security rate of 6.2 percent, Medicare rate of 1.45 percent, FUTA rate of 0.6 percent, and SUTA rate of 5.4 percent. Consider all earnings subject to social security tax and Medicare tax and $41,430 subject to FUTA and SUTA taxes.
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Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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