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Signature Company's partial payroll register for the week ended January 7 is as follows: Assume that the payroll is subject to an employer's Social Security
Signature Company's partial payroll register for the week ended January 7 is as follows: Assume that the payroll is subject to an employer's Social Security tax of 6.2 percent on the first $118,500 and a Medicare tax of 1.45 percent on all earnings. Also assume that the federal unemployment tax is 0.6 percent, and that the state unemploymant tax is 5.4 percent of the ferst 37,000 . Give the entry in general journal form to record the poyroll tax expense. If an amount box does not require an entry, leave it blank, If required, round your intermediate calculations and final answers to the nearest cent and use the rounded answers in subsequent computations. Assume that the payroli is subject to an employer's Social Security tax of 6.2 percent on the first $118,500 and a Medicare tax of 1.45 percent on earning5. Also assume that the federal unemployment tax is 0.6 percent, and that the state unemployment tax is 5.4 percent of the first 57,000 . Give the entry in general journal form to record the payroll tax expense. If an amount box does not require an entry, leave ic blank. if required, your intermediate calculations and final answers to the nearest cent and use the rounded answers in subseatiant mmmawaw
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