In January, gross earnings in Vega Company totaled $70,000. All earnings are subject to 8% FICA taxes,

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In January, gross earnings in Vega Company totaled $70,000. All earnings are subject to 8% FICA taxes, 5.4% state unemployment taxes, and 0.8% federal unemployment taxes.

Prepare the entry to record January payroll tax expense.

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Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Sep 13, 2011 08:37 AM

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In January, gross earnings in Vega Company totaled $70,000. All earnings are subject to 8% FICA taxes,

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Jan 31 Payroll Tax Expense 9940 FIC...View the full answer

Accounting Principles

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