Question
A company has four employees. Total salaries for the month of April were $16,000. The federal income tax rate for all employees is 15%. The
A company has four employees. Total salaries for the month of April were $16,000. The federal income tax rate for all employees is 15%. The FICAsocial security tax rate is 6.2% and the FICAMedicare tax rate is 1.45%. Calculate the amount of employee taxes withheld and prepare the company's journal entry to record the April payroll assuming these were the only deductions.
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Global Strategy
Authors: Mike W. Peng
5th Edition
0357512367, 978-0357512364
