Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. payroll tax entries according to a summary of the

Payroll Tax Entries According to a summary of the payroll of Mountain Streaming Co., $110,000...

60.1K

Verified Solution

Question

Accounting

image
Payroll Tax Entries According to a summary of the payroll of Mountain Streaming Co., $110,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $25,000 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, 0.8% b. Journalize the entry to record the dccrual of payroll taxes. If an amount box does not require an entry, leave it blank. 0001

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

please solve it and thank you converting 220v Ac to 12V DC : 1. Design specification 2. Specification...

Electrical Engineering
Q

Consider a manufacturer of personal computers that sells PCs through the 4 Best Buy stores in...

General Management
Q

Ajar contains 12 red marbles numbered 1 to 12 and 6 blue marbles numbered 1...

Basic Math
Q

In a class there are 14 students: 4 are 5' 6", 2 are 5'8", 2...

Basic Math
Q

Calculate the correlation coefficient for the relationship of interval variables X and Y in DATA...

Statistics
Q

Evaluate the expression (4p-m) +4 where m = -4 and P = 2

Algebra
Q

Find the quotient 4x 2 15x 25 11 4x 15x 25 4x 5 by performing...

Algebra
Q

11 A certain virus triples every 15 hours If the virus amounts to 5750 bacteria...

Algebra
Q

Match the items below by entering the appropriate code letter in the space provided. A...

Accounting
Q

check answer please When an auditor decides to follow a particular transaction from...

Accounting
Q

Siclan Company Problem The Siclan Company is considering opening a new office. The company owns...

Accounting
Q

You own a credit card company. You want to evaluate the profitability of customers A...

Accounting