The amount of federal income taxes withheld each month is, Ask an Expert

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Harriet Pandel, an employer, is subject to FICA taxes but exempt from FUTA and SUTA taxes. During last quarter of the year, her employees earned monthly wages of $16,900, all of which is taxable. The amount of federal income taxes withheld each month is $1,698. Journalize the payment of wages and record the payroll tax on November 29.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M940100

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