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Please help!! Homework: Week #6 Homework - Chapter 13 Appendix Save 4 of 8 (6 complete) HW Score: 55.56%, 4.44 of 8 pts Score: 0
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Homework: Week #6 Homework - Chapter 13 Appendix Save 4 of 8 (6 complete) HW Score: 55.56%, 4.44 of 8 pts Score: 0 of 1 pt E13-13 (similar to) Question Help Eastman Consulting Group reports a $1,190,000 bi-weekly payroll. Payroll income taxes average 26% for federal and 6% for state and local taxes. The company is also responsible for federal and state unemployment taxes. The federal unemployment tax rate is 1.5%. The state unemployment tax rate is 4.5% on a wage base of $7,000, but Eastman gets a 2.7% credit. Eastman has not paid any employee more than $7,000. None of the employees have exceeded the income base for FICA tax, nor have any employees eamed enough to trigger the additional Medicare tax. Read the requirements. Requirement a. Prepare the journal entry to record the bi-weekly payroll. (Abbreviations used: FICA = Federal Insurance Contribution Act. Record debits first, then credits. Exclude explanations from any journal entries.) Bi-weekly Payroll Account Accrual Choose from any list or enter any number in the input fields and then click Check Answer Homework: Week #6 Homework - Chapter 13 Appendix Save 4 of 8 (6 complete) HW Score: 55.56%, 4.44 of 8 pts Score: 0 of 1 pt E13-13 (similar to) Question Help Eastman Consulting Group reports a $1,190,000 bi-weekly payroll. Payroll income taxes average 26% for federal and 6% for state and local taxes. The company is also responsible for federal and state unemployment taxes. The federal unemployment tax rate is 1.5%. The state unemployment tax rate is 4.5% on a wage base of $7,000, but Eastman gets a 2.7% credit. Eastman has not paid any employee more than $7,000. None of the employees have exceeded the income base for FICA tax, nor have any employees eamed enough to trigger the additional Medicare tax. Read the requirements. Requirement a. Prepare the journal entry to record the bi-weekly payroll. (Abbreviations used: FICA = Federal Insurance Contribution Act. Record debits first, then credits. Exclude explanations from any journal entries.) Bi-weekly Payroll Account Accrual Choose from any list or enter any number in the input fields and then click CheckStep by Step Solution
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