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1. Compute the total salaries expense, the total withholdings from employee salaries, and the actual payroll payment (salaries payable) for the first week of January.
1. Compute the total salaries expense, the total withholdings from employee salaries, and the actual payroll payment (salaries payable) for the first week of January. (Round your intermediate and final answers to the nearest dollar amount.)
2. Compute the total payroll tax expense Accurate Reports will pay for the first week of January. (Round your intermediate and final answers to the nearest dollar amount.)
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TB EX QU. 8-161 Accurate Reports has... Accurate Peports has 40 employees each working 39 hours per weok and earning $28 an hour. Federal income taves are withheld at 15% and state income taxes at 6%. FICA taxos are 7.65% of the first $118,500 earned per employee and 1.45% thereather. Unemployment tawos are 6.20% of the first $7,000 earned per employee. 1. Compute the total salaries expense, the total withholdings from employee salaries, and the actual payroll payroent (5alaries poyable) for the first week of January. (Round your intermediate and final answers to the nearest dollar amount.) 2. Compute the total payroti tax expense Accurate Reports will pay for the first week of January (Round your intermediate and final answers to the nearest dollar amount.) Step by Step Solution
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