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thank you for your help The payroll of Splish Company for September 2025 is as follows. Total payroll was $492,000, of which $120,000 is exempt
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The payroll of Splish Company for September 2025 is as follows. Total payroll was $492,000, of which $120,000 is exempt from Sothal Security tax because it represented amounts paid in excess of $142,800 to certain employees. The amount paid to employees in excess of $7,000 (the maximum for both federal and state unemployment taxes) was $436,000. Income taxes in the amount of $73,800 were withheld, as was $8,700 in union dues. The state unemployment tax is 3.5\%, but Splish Company is allowed a credit of 2.3% by the state for its unemployment experience. Also, assume that the current FICA tax is 7.65\% on an employee's wages to $142,800 and 1.45% in excess of $142,800. The federal unemployment tax rate is 0.8% after state credit. is required, select "No Entry" for the occount tities and enter O for the amounts. Credit occount tidles are outomatically indented when anount is entered. Do not indent manually. Uist all debit entries before credit entries.) Step by Step Solution
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