The following summary data for the payroll period ended on July 14, 2021, are available for Brac
Question:
The following summary data for the payroll period ended on July 14, 2021, are available for Brac Construction Ltd:
Required:
a. Calculate the missing amounts and then determine the FICA tax withholding percentage.
b. Use the horizontal model (or write the journal entry) to show the effects of the payroll accrual.
Transcribed Image Text:
Gross pay.. FICA tax withholdings. Income tax withholdings . . . . . . . . . Medical insurance contributions... Union dues ..... Total deductions. Net pay.... ... $ ? ? 8,725 620 410 13,580 $36,420
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