In January, gross earnings in Yoon Company totaled $90,000. All earnings are subject to 8% FICA taxes,

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In January, gross earnings in Yoon Company totaled $90,000. 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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Financial Accounting

ISBN: 978-0470507018

7th Edition

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

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Question Posted: May 22, 2012 01:22 AM

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In January, gross earnings in Yoon Company totaled $90,000. All earnings are subject to 8% FICA taxes,

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Jan 31 Payroll Tax Expense 12780 FIC...View the full answer

Financial Accounting

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