Question
Calculate the payroll taxes for BrewHouse Restaurant(the employer, not the employee!) for the current week: Gross Wages earned: $3,200 SUTA tax rate: 5.4% FUTA tax
Calculate the payroll taxes for BrewHouse Restaurant(the employer, not the employee!) for the current week:
Gross Wages earned: $3,200
SUTA tax rate: 5.4%
FUTA tax rate: 0.6%
Social Security rate 6.2%
Medicare rate: 1.45% (No employee to date has reached the limits for FUTA, SUTA, or FICA taxes.)
Calculate each tax and make the journal entry for the EMPLOYER.
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Financial Accounting For MBAs
Authors: Peter D. Easton, John J. Wild, Robert F. Halsey, Mary Lea McAnally
4th Edition
9781934319345
