Question
In January, gross earnings inSheffieldCompany totaled $72,000. All earnings are subject to7.65% FICA taxes,5.40% state unemployment taxes, and0.80% federal unemployment taxes. Prepare the entry to
In January, gross earnings inSheffieldCompany totaled $72,000. All earnings are subject to7.65% FICA taxes,5.40% state unemployment taxes, and0.80% federal unemployment taxes.
Prepare the entry to record January payroll tax expense.(Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.)
Date Account Titles and Explanation Debit Credit
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Principles Of Financial Accounting
Authors: Jerry J. Weygandt, Michael J. Atkins, Donald E. Kieso, Paul D. Kimmel, Valerie Ann Kinnear, Barbara Trenholm, Joan E. Barlow
1st Canadian Edition
