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

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In January, gross earnings in Gel 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 Tools for business decision making

ISBN: 978-0470095461

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Authors: kimmel, weygandt, kieso

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Question Posted: Nov 08, 2022 12:33 AM

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

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Debit Payroll Tax Expense 6832 Credit FICA Payable 5600 Credit State Unemployment ...View the full answer

Accounting Tools for business decision making

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