According to a summary of the payroll of Bailik co, $880,000 was subject to the...
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According to a summary of the payroll of Bailik co, $880,000 was subject to the 6% social security tax and the 1.5% Medicare tax. Also, $40,000 was subject to state and federal unemployment taxes. A. Calculate the employer's payroll taxes, using the following rates: state unemployment 5,4% federal unemployment .8% B. Journalize the entry to record the accrual of payroll taxes.
A. Calculate the employer's payroll taxes, using the following rates: state unemployment 5,4% federal unemployment .8%
B. Journalize the entry to record the accrual of payroll taxes.
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