Calculation of Taxable Earnings and Employer Payroll Taxes and Preparation of Journal Entry. Selected information from the
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Calculation of Taxable Earnings and Employer Payroll Taxes and Preparation of Journal Entry.
Selected information from the payroll register of Joanie's Boutique for the week ended September 14, 20--, as is follows: Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% of gross earnings. FUTA tax is 0.6% and SUTA tax is 5.4% on the first $7,000 of earnings.
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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