According to a summary of the payroll of PJW Co., $90,000 in earnings were subject to the

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According to a summary of the payroll of PJW Co., $90,000 in earnings were subject to the 7.5% FICA tax. Also, $30,000 in earnings were subject to state and federal unemployment taxes.

a. Compute the employer’s payroll taxes, using the following rates: state unemployment, 2.7%; federal unemployment, 0.8%.

b. Illustrate the effects on the accounts and financial statements of recording the accrual of payroll taxes.

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Survey Of Accounting

ISBN: 9780357132593

9th Edition

Authors: Carl S. Warren, Amanda Farmer

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Question Posted: Sep 25, 2020 07:16 AM

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According to a summary of the payroll of PJW Co., $90,000 in earnings were subject to the

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a FICA tax 75 90000 6750 State unemployment 27 30000 810 Fed...View the full answer

Survey Of Accounting

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