In January, gross earnings in Vega Company totaled $70,000. All earnings are subject to 8% FICA taxes,
Question:
In January, gross earnings in Vega Company totaled $70,000. All earnings are subject to 8% FICA taxes, 5.4% state unemployment taxes, and 0.8% federal unemployment taxes.
Prepare the entry to record January payroll tax expense.
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Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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