On March

21^(st )

Jamukha recorded salaries owed to employees and payroll taxes. Employee's gross salaries were

$8,300

. FICA tax was withheld at a rate of

7.65%

. Federal income taxes (FIT) of

$1,500

were withheld, and state income taxes (SIT) of

$600

were withheld. The federal unemployment tax (FUTA) rate was

1%

, and the state unemployment tax (SUTA) rate was

3.25%

No cash has been paid yet, so record all the amounts due in the appropriate payable accounts.

Transcribed Image Text:

14. On March 21st Jamukha recorded salaries owed to employees and payroll taxes. Employee's gross salaries were $8,300. FICA tax was withheld at a rate of 7.65%. Federal income taxes (FIT) of $1,500 were withheld, and state income taxes (SIT) of $600 were withheld. The federal unemployment tax (FUTA) rate was 1%, and the state unemployment tax (SUTA) rate was 3.25%. No cash has been paid yet, so record all the amounts due in the appropriate payable accounts. 14. On March 21st Jamukha recorded salaries owed to employees and payroll taxes. Employee's gross salaries were $8,300. FICA tax was withheld at a rate of 7.65%. Federal income taxes (FIT) of $1,500 were withheld, and state income taxes (SIT) of $600 were withheld. The federal unemployment tax (FUTA) rate was 1%, and the state unemployment tax (SUTA) rate was 3.25%. No cash has been paid yet, so record all the amounts due in the appropriate payable accounts.