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Required information Problem 7-18 to 7-7B (Static) [The following information applies to the questions displayed below.] Tony Stanford owns Cosmic Comics in Greensboro, North
Required information Problem 7-18 to 7-7B (Static) [The following information applies to the questions displayed below.] Tony Stanford owns Cosmic Comics in Greensboro, North Carolina. Checks will be issued on September 16, 2020. Assume 5.25 percent state income tax. No employee has exceeded the Social Security wage base. Use the wage bracket method in the federal tax table in Appendix C. Assume no employees submitted a W-4 in 2020. If you have MS, use single rate. Total, prove, and rule the entries. (Round your intermediate calculations and final answers to 2 decimal places.) Problem 7-6B (Static) Required: Using the employee payroll entry from P7-3B, complete the General Journal entry for the issuance of Cosmic Comics pay on September 16, 2020. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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