Business, 21.04.2020 19:37, ncontreras06
Midwest Shipping pays employees at the end of each month. Payroll information is listed below for January, the first month of the fiscal year. Assume that none of the employees exceeds the Federal unemployment tax maximum salary of $7,000 in January.
Salaries $ 700,000
Federal and state income taxes withheld 150,000
Federal unemployment tax rate 0.80 %
State unemployment tax rate (after FUTA deduction) 5.40 %
Social Security (FICA) tax rate 7.65 %
Record salaries expense and payroll tax expense for the January pay period. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Answers: 2
Other questions on the subject: Business
Business, 21.06.2019 17:40, jjackson0010
Steffi is reviewing various licenses and their uses. match the licenses to their respective uses.
Answers: 3
Business, 22.06.2019 10:30, jlankford148
What type of budget is stated? a budget is a type of financial report that scrutinizes the inflow and outflow of money in a given financial year.
Answers: 1
Business, 22.06.2019 11:20, andrea1704
Aborrower takes out a 30-year adjustable rate mortgage loan for $200,000 with monthly payments. the first two years of the loan have a "teaser" rate of 4%, after that, the rate can reset with a 5% annual payment cap. on the reset date, the composite rate is 6%. what would the year 3 monthly payment be?
Answers: 3
Do you know the correct answer?
Midwest Shipping pays employees at the end of each month. Payroll information is listed below for Ja...
Questions in other subjects:
Mathematics, 19.05.2021 19:50
