Question
According to records, Borges Distributors, $1,110,000 was subject to 6.0% SS tax and the 1.5% Medicare tax. Also, $50,000 was subject to state and federal
According to records, Borges Distributors, $1,110,000 was subject to 6.0% SS tax and the 1.5% Medicare tax. Also, $50,000 was subject to state and federal unemployment taxes.
a. Calculate the employers payroll taxes, using 4.2% for SUTA, and .8% for FUTA. ____________________________________________________________ _____________________________________________________________ _____________________________________________________________ ______________________________________________________________ ______________________________________________________________
b Journalize the entry to record the payroll taxes ______________________________________________________________ ______________________________________________________________ _______________________________________________________________ _______________________________________________________________ _______________________________________________________________
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Financial Holding Company Audit Compliance And Risk Management
Authors: Anthony Ludovic Assassa
1st Edition
6206122727, 978-6206122722
