Question
From the following information, calculate the payroll tax expense for Aim Company for the payroll of April 9: (Click the icon to view the
From the following information, calculate the payroll tax expense for Aim Company for the payroll of April 9: (Click the icon to view the payroll.) The FICA tax rate for OASDI is 6.2% on the first $127,200 earned, and Medicare is 1.45% on all earnings. Federal unemployment tax is 0.6% on the first $7,000 earned by each employee. The SUTA tax rate for Aim Company is 5.4% on the first $7,000 of employee earnings for state unemployment purposes. (Round to the nearest cent as needed.) X Data Table Cumulative Earnings Before Weekly Payroll Gross Pay for the Week $ $ 900 Total 3,800 6,900 800 7,500 340 Employee I. Benson K. Larry V. North
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College Accounting A Practical Approach
Authors: Jeffrey Slater
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978-0132772068, 133468100, 013277206X, 9780133468106, 978-0133133233
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