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The following information about the weekly payroll was obtained from the records of Boltz Co.: Salaries: Deductions: Sales salaries $325,000 Income tax withheld $119,000 Warehouse
The following information about the weekly payroll was obtained from the records of Boltz Co.: Salaries: Deductions: Sales salaries $325,000 Income tax withheld $119,000 Warehouse salaries 196,000 U.S. savings bonds 14,344 Office salaries 131,000 Group insurance 11,736 $652,000 Tax rates assumed: Social security 6% State unemployment (employer only) 5.4% Medicare 1.5% Federal unemployment (employer only) 0.8% Required: 1. Assuming that the payroll related to the first full week of the year and was paid
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