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Rand Company's payroll on December 31 of the curre...

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Rand Company's payroll on December 31 of the current year is as follows: total payroll, $500,000 payroll in excess of $100,000 to each employee, $350,000 payroll in excess of $7,000 to each employee, $400,000 income taxes withheld, $85,000 union dues withheld, $10,000 tax rates: State unemployment tax, 5.4%; F.I.C.A. tax, 6% for employees and 8% for employers for any amounts over $100,000; federal unemployment tax, 0.6% How would you calculate the FICA Taxes Payable. I have all the other answer just can not figure out that one.

 

Paper#4373 | Written in 18-Jul-2015

Price : $25
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