Business, 08.11.2019 14:31, dbanks701

Accounting question:
grammy’s bakery had the following information for the pay period ending june 30:

p. $2,..$12,$86.
t. baker .00$6,$22.

assume:
fica-oasdi is applied to the first $106,800 at a rate of 6.2%.
fica-medicare is applied at a rate of 1.45%.
futa is applied to the first $7,000 at a rate of 0.8%.
suta is applied to the first $7,000 at a rate of 5.6%.
state income tax is 3.8%.

given the above information, what would be the amount applied to office salaries expense?

a. debit of $550

b. credit of $550

c. debit of $500

d. credit of $500

i don't understand this one. can someone ?

Answers: 1

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Accounting question:
grammy’s bakery had the following information for the pay period ending j...