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Home Q & A Board Other Fields Homework Help Business Accounting
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upton upton
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6 years ago
Payroll information for Kinzer's Interior Decorating for the first week in October is as follows:

Employees' gross wages   $70,000
Taxable earnings for FICA-
   OASDI   50,000
   Medicare   70,000
Taxable earnings subject to Federal and State Unemployment taxes: $5,000

Assume the following tax rates:
FICA: OASDI   6.2%
FICA: Medicare   1.45%
Federal unemployment   0.8%
State unemployment   2.0%

Required: Prepare the payroll tax expense entry.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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keytwokeytwo
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6 years ago
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upton Author
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6 years ago
This helped my grade so much Perfect
kh540941
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I appreciate what you did here, answered it right Smiling Face with Open Mouth
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