According to a summary of the payroll of Guthrie Co., $560,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $60,000 was subject to state and federal unemployment taxes. Required:
a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.6%
b. On December 31, journalize the entry to record the accrual of payroll taxes.

Answer and Explanation:

a. The computation of an employer's payroll taxes is shown below:-

Employer's payroll taxes =  Social Security tax payable + Medicare tax payable + State Unemployment tax payable + Federal Unemployment tax payable

= ($560,000 × 6%) + ($560,000 × 1.5%) + ($60,000 × 0.6%) + ($60,000 × 0.6%)

= $33,600 + $8,400 + $3,240 + $360

= $45,600

b. The Journal entry is shown below:-

Payroll tax expense $ Dr, $45,600    -

     To Social Security tax payable $33,600

     To Medicare tax payable $8,400

     To State Unemployment tax payable $3,240  

    To Federal Unemployment tax payable $360

(Being accrual of payroll taxes is recorded)

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

happy to

pls mark as brainliest

answer; the coefficient of determination;