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1) Howard company paid salaries of $116,000. All of it was taxable for social security, federal unemployment, state unemployment (3.25%). Income taxes withheld were $45,000.
1) Howard company paid salaries of $116,000. All of it was taxable for social security, federal unemployment, state unemployment (3.25%). Income taxes withheld were $45,000. A) Write the payroll journal entry. Hint: This entry will include income tax payable, social security tax payable Medicare tax payable and salaries payable B) Write the payroll tax journal entry. Hint: This entry will incl social security tax payable, Medicare tax payable and salaries payable 2) Howard company paid salaries of $60,000. All of it was taxable for social security, federal unemployment, state unemployment (3.0%). Income taxes withheld were $40,000. A) Write the payroll journal entry B) Write the payroll tax journal entry 3) Howard company paid salaries of $140,000. $65,000 of it was taxable for social security, FUTA, SUTA (2.5%). Income taxes withheld were $15,000. Howard's employees put $8000 in their 401(k) plans and Howard matched it. A) Write the payroll journal entry. B) Write the payroll tax andbenfisjournal entry. 4) Howard company paid salaries of $42,000. $25,000 of it was taxable for social security, FUTA, state unemployment (3.5%). Income taxes withheld were $4500. Howard's employees put $2000 in their 401(k) plans and Howard matched it. A) Write the payroll journal entry. B) Write the navroll tax and henefits iournalentrv
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