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H3Ko H3Ko
wrote...
Posts: 4891
7 years ago
Tanner's gross pay for the week is $1,500. His yearly pay is under the limit for OASDI. Assume that the rate for state and federal unemployment compensation taxes is 6% and that Tanner's year-to-date pay has previously exceeded the $7,000 cap. What is the amount of state and federal unemployment tax that his employer must record as payroll tax expense and pay to the federal and state governments?
A) $0
B) $111.75
C) $90
D) $21.75
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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.unplugged..unplugged.
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Posts: 1272
7 years ago
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H3Ko Author
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7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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