Prepare the entry to record the gross payroll, Accounting Basics

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Prepare the entry to record the gross payroll

Prepare the entry to record the gross payroll and prepare the entry to record employer payroll taxes if you have the following information:

Gross Wages: 140,000
Federal Withholding: 33,000
Hospital Insurance Premiums: 3,050
FICA: 7.65%
State Unemployment: 2.0%
Federal Unemployment: 0.8%

78,000 of wages are subject to FICA
36,000 are subject to unemployment taxes

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Accounting Basics: Prepare the entry to record the gross payroll

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Accounting Basics: Prepare the entry to record the gross payroll

Reference No:- TGS0708373

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What should be the debit and credit

Q : How many shares of common stock were outstanding

Q : What is predetermined factory overhead rate based on direct

Q : From net income when using the indirect

Q : Prepare the entry to record the gross payroll

Q : How capitalizing an amount equal to market value

Q : Citizens bank has several departments

Q : What is the amount reported on martin corporation

Q : What is the balance in paid-in capital from sale of treasury

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Prepare the entry to record the gross payroll

Reference No:- TGS0708373

Recent Questions Asked Accounting Basics

Q : What should be the debit and credit

Q : How many shares of common stock were outstanding

Q : What is predetermined factory overhead rate based on direct

Q : From net income when using the indirect

Q : Prepare the entry to record the gross payroll

Q : How capitalizing an amount equal to market value

Q : Citizens bank has several departments

Q : What is the amount reported on martin corporation

Q : What is the balance in paid-in capital from sale of treasury

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