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CH 9 Question 6- Need To Know Ch 9; Need-to-Know Video Assignments (i) Merger Company has 10 employees, each of whom earns $1,800 per montlifand
CH 9 Question 6- Need To Know
Ch 9; Need-to-Know Video Assignments (i) Merger Company has 10 employees, each of whom earns $1,800 per montlifand has been employed since January 1 . FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. 10 points Prepare the March 31 journal entry to record the March payroll taxes expense. Note: Round your answers to 2 decimal places Step by Step Solution
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