In January, gross earnings in Lugo Company totaled $80,000. All earnings are subject to 7.65% Social Security

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In January, gross earnings in Lugo Company totaled $80,000. All earnings are subject to 7.65% Social Security taxes and income taxes at 20%. Prepare the entry to record January payroll tax expense for the employer.

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Accounting Principles

ISBN: 978-1119419617

IFRS global edition

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

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Question Posted: Jun 25, 2019 10:28 AM

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In January, gross earnings in Lugo Company totaled $80,000. All earnings are subject to 7.65% Social Security

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Accounting Principles

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