Perez Company has the following information for the pay period of January 15-31. Gross payroll Social...

 

 

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Perez Company has the following information for the pay period of January 15-31. Gross payroll Social security rate $20,000 6.0% Medicare rate 1.5% Federal income tax withheld $2,500 Federal unemployment tax rate 0.8% State unemployment tax rate 5.4% Assuming no employees are subject to ceilings for their earnings, compute salaries payable and employer's payroll tax expense. Salaries Payable Employer's Payroll Tax Expense X Perez Company has the following information for the pay period of January 15-31. Gross payroll Social security rate $20,000 6.0% Medicare rate 1.5% Federal income tax withheld $2,500 Federal unemployment tax rate 0.8% State unemployment tax rate 5.4% Assuming no employees are subject to ceilings for their earnings, compute salaries payable and employer's payroll tax expense. Salaries Payable Employer's Payroll Tax Expense X

Answer rating: 100% (QA)

ANSWER To compute the Salaries Payable and the Employers Payroll Tax Expense well first calculate th... View the full answer