Question
Laura Strands regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a
Laura Strands regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay period, Laura works 45 hours. Lauras federal income tax withholding is $94, and she has no voluntary deductions. Assume that the FICA tax rate is 7.65%.
Prepare the employers journal entry to record payroll taxes for the period. Ignore unemployment taxes. (Round answers to 2 decimal places, e.g. 15.15. Credit account titles are
Date Account Titles and Explanation Debit Credit
Jan. 15
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The Official IRS Tax Guide To Auditing Horse Activities Prepare Your Horse Operation To Withstand An IRS Audit Using The Samw Manual IRS Agents Use
Authors: IRS
1st Edition
092934670X, 978-0929346700
