A calculate the employers payroll taxes using the following, Ask an Expert

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According to a summary of the payroll of Newman Publishing Co. $600,000 was subject to the 7.5% FICA Tax. Also $50,000 was subject to state and federal unemployee taxes.

a) Calculate the employer's payroll taxes, using the following rates state unemployment, 4.3%: federal unemployment, 0.8%

b) Illustrate the effects on the accounts and financial statements of recording the accrual of payroll taxes.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9446099

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