Cado Co.s payroll for the month ended January 31 is summarized as follows: Total wages $100,000 Amount
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Cado Co.’s payroll for the month ended January 31 is summarized as follows: Total wages $100,000 Amount of wages subject to payroll taxes: FICA 80,000 Unemployment 20,000 Payroll tax rates: FICA for employer and employee 7% each Unemployment 3% In its January 31 balance sheet, what amount should Cado accrue as its share of payroll taxes?
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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