According to a summary of the payroll of PJW Co . , $ 7 0 0 ,
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Question:
According to a summary of the payroll of PJW Co $ in earnings were subject to the FICA tax. Also, $ in earnings were subject to state and federal unemployment taxes.
a Calculate the employer's payroll taxes, using the following rates: state unemployment, ; federal unemployment,
Illustrate the effects on the accounts and financial statements of recording the accrual of payroll taxes. If no account or activity is affected, select No effect" from the dropdown list and leave the corresponding number entry box blank.
Enter account decreases and cash outflows as negative amounts.
Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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