Question
Nomsky Co. has the following information for the pay period of December 15 31: Gross Payroll $14,000 Federal Income Tax Withheld $2,600 Social Security Rate
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Nomsky Co. has the following information for the pay period of December 15 31:
Gross Payroll $14,000 Federal Income Tax Withheld $2,600
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. $14,000 B. $10,350 C. $9,350 D. $10,238 None of the above.
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