Description of this paper

According to a summary of the payroll of Apline Publishing Co., $460,000 was subject to the 7.5% FICA tax.

Description

solution


Question

According to a summary of the payroll of Apline Publishing Co., $460,000 was subject to the 7.5% FICA tax. Also, $39,000 was subject to state and federal unemployment taxes.;Required;a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 4.3%, federal unemployment, 0.8%.;b. Illustrate the effects on the accounts and financial statements of recording the accrual of payroll taxes.

 

Paper#81691 | Written in 18-Jul-2015

Price : $19
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