Question
According to a summary of the payroll of Mountain Streaming Co., $643,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax.
According to a summary of the payroll of Mountain Streaming Co., $643,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $21,000 was subject to state and federal unemployment taxes.
a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 4.2%; federal unemployment, 0.8%. $fill in the blank 262f0002cffe034_1
b. Journalize the entry to record the accrual of payroll taxes. If an amount box does not require an entry, leave it blank.
| fill in the blank 2e9f1dfd8051fb4_2 | fill in the blank 2e9f1dfd8051fb4_3 | ||
| fill in the blank 2e9f1dfd8051fb4_5 | fill in the blank 2e9f1dfd8051fb4_6 | ||
| fill in the blank 2e9f1dfd8051fb4_8 | fill in the blank 2e9f1dfd8051fb4_9 | ||
| fill in the blank 2e9f1dfd8051fb4_11 | fill in the blank 2e9f1dfd8051fb4_12 | ||
| fill in the blank 2e9f1dfd8051fb4_14 | fill in the blank 2e9f1dfd8051fb4_15 |
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Sound Investing, Chapter 5 - Cost Allocation
Authors: Kate Mooney
8th Edition
007171927X, 9780071719278
