Reference Figure 12.15 and use the following information to complete the requirements. A. Determine the federal income
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Reference Figure 12.15 and use the following information to complete the requirements.
A. Determine the federal income tax withholdings amount per monthly pay period for each employee.
B. Record the employee payroll entry (all employees) for the month of January assuming FICA Social Security is 6.2%, FICA Medicare is 1.45%, and state income tax is equal to 3% of gross income. (Round to the nearest cent if necessary.)
Data from in Figure 12.15
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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