Salaries: Deductions: Sales salaries $330,000 Income tax withheld $116,600 Warehouse salaries 180,000 U.S. savings bonds 14,454 Office salaries 147,000 Group insurance 11,826 S657,000 Tax rates assumed: Social security 6% State unemployment (employer only) 5.4% Medicare 1.5% Federal unemployment (employer only) 0.8%
Salaries: Deductions: Sales salaries $330,000 Income tax withheld $116,600 Warehouse salaries 180,000 U.S. savings bonds 14,454 Office salaries 147,000 Group insurance 11,826 S657,000 Tax rates assumed: Social security 6% State unemployment (employer only) 5.4% Medicare 1.5% Federal unemployment (employer only) 0.8%
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter11: Current Liabilities And Payroll
Section: Chapter Questions
Problem 2PA: The following information about the payroll for the week ended December 30 was obtained from the...
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