The payroll reoster of Heritage Co. indicates $12,000 of social security withhekd and $3,000 of Medicare tax wthheld on total sakares of $200,000 for the period. Eawninge of S8,000 are sutect state and federal unemployment compensation taxes at the federal rate of 0.806 and the state rate of 5 40%

The payroll reoster of Heritage Co. indicates $12,000 of social security withhekd and $3,000 of Medicare tax wthheld on total sakares of $200,000 for the period. Eawninge of S8,000 are sutect state and federal unemployment compensation taxes at the federal rate of 0.806 and the state rate of 5 40%

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 50BE

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The payroll reaister of Hertage Co. indicates $12,000 of social security withhekd and $3,000 of Medicare tax withheld on total saklaries of $200,000 for the period. Eanings of S8.000 are sutject o
state and federal unemployment compensation taxes at the federal rate of 0.80% and the state rate of 5 40%
Journalze the entry to record the payroll tax expense for the period. Refer to the Chart of Accounts for exact wording of account ies. Round arower o newest doku

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