Evasive Corporation pays its employees monthly. The following information is available for the January payroll. Gross wages
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Question:
Evasive Corporation pays its employees monthly. The following information is available for the January payroll.
Gross wages $80,000
FICA rate 8%
Unemployment taxes:
Federal 0.5%
Gross wages $80,000
FICA rate 8%
Unemployment taxes:
Federal 0.5%
State 2.7%
Federal income tax withheld $14,000
All employees' salaries are subject to the tax rates mentioned above for Evasive Corporation.
Using the info above, the company's total expense related to the January payroll is:
All employees' salaries are subject to the tax rates mentioned above for Evasive Corporation.
Using the info above, the company's total expense related to the January payroll is:
A) $84,000
B) $75,600
C) $77,840
D) $70,000
Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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