Question
Lee Company has the following information for the pay period of December 1531: Gross payroll $19,486 Federal income tax withheld $3,580 Social security rate 6%
Lee Company has the following information for the pay period of December 1531:
| Gross payroll | $19,486 | Federal income tax withheld | $3,580 | |
| Social security rate | 6% | Federal unemployment tax rate | 0.8% | |
| Medicare rate | 1.5% | State unemployment tax rate | 5.4% |
Assuming no employees are subject to ceilings for taxes on their earnings, Salaries Payable would be recorded for
a.$14,697.87
b.$14,444.55
c.$19,486.00
d.$13,236.42
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Management Audit A Complete Guide
Authors: Gerardus Blokdyk
2020 Edition
0655905413, 978-0655905417
