Question
Lee Company has the following information for the pay period of December 1531: Gross payroll $18,703 Federal income tax withheld $2,993 Social security rate 6%
Lee Company has the following information for the pay period of December 1531:
| Gross payroll | $18,703 | Federal income tax withheld | $2,993 | |
| 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.$13,147.69
b.$14,307.28
c.$14,550.41
d.$18,703.00
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
978-0077639730
