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Calculate employers payroll taxes and prepare a general journal Instructions Calculation and Journal Entry for Employer Payroll Taxes 1. Calculate the employer's payroll taxes expense.
Calculate employers payroll taxes and prepare a general journal
Instructions Calculation and Journal Entry for Employer Payroll Taxes 1. Calculate the employer's payroll taxes expense. Round your answer to the nearest cent Prepare the journal entry as of March 12, 20-, assuming that FUTA tax is 0.6%, SUTA tax is 5.4%, Social Security tax is 6.2%, and tax is 1.45%. If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Earnings for several employees for the week ended March 12, 20, are as follows Taxable Earnings Current Unemployment Social Aus, Glenn E. Diaz, Charles K. Knapp, Carol S Mueller, Deborah F. Yeager, Jackie R. Employee Name Earnings Compensation Security $720 370 1,200 850 900 $720 370 1,200 850 900 $200 350 115 35 Step by Step Solution
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