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QUESTION 10 5 MRI Company has one employee that makes $7.200 per month. FICA Social Security taxes are 6.2% and FICA Medicare taxes are 1.4546
QUESTION 10 5 MRI Company has one employee that makes $7.200 per month. FICA Social Security taxes are 6.2% and FICA Medicare taxes are 1.4546 of gross pay. The employee's federal income taxes withheld are $135 for the pay period. Based on this Information, the financial statements affected by this transaction are. Balance sheet only Income statement only e Both the balance sheet and income statement There is no effect on any statement since these transactions would affect the tax return not the company's financial statements
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