In January, gross earnings in Lily Company totaled $78,000. All earnings are subject to7.65% FICA taxes,5.40% state
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In January, gross earnings in Lily Company totaled $78,000. All earnings are subject to7.65% FICA taxes,5.40% state unemployment taxes, and0.60% federal unemployment taxes. Prepare the entry to record January payroll tax expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.)
Date | Account Titles and Explanation | Debit | Credit |
---|---|---|---|
Jan. 31 | enter an account title for the journal entry on January 31 | enter a debit amount | enter a credit amount |
enter an account title for the journal entry on January 31 | enter a debit amount | enter a credit amount | |
enter an account title for the journal entry on January 31 | enter a debit amount | enter a credit amount | |
enter an account title for the journal entry on January 31 | enter a debit amount | enter a credit amount |
Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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