$ 765 1,140 FICA taxes Salaries and wages expense Federal income taxes (5) FICA taxes...
70.2K
Verified Solution
Link Copied!
Question
Accounting
$ 765 1,140 FICA taxes Salaries and wages expense Federal income taxes (5) FICA taxes are 7.65%. State income taxes are 4% of gross earnings. Instructions (a) Fill in the missing amounts. (b) Journalize the February payroll and the payment of the payroll. E11-13 According to a payroll register summary of Frederickson Company, the amount of employees' gross pay in December was $850,000, of which $80,000 was not subject to Social Security taxes of 6.2% and $750,000 was not subject to state and federal unemploy- ment taxes. Instructions (a) Determine the employer's payroll tax expense for the month, using the following rates: o, state unemployment 5.4%, and federal unemployment 0.8%. FICA 7.65%state e the journal entry to record December payroll tax expense. 14 Mayberry Company has two fringe benefit plans for its employees tirants employees 2 days' vacation for each month worked. Ten employees worked the 2 In i month of March at an average daily wage of $140 per employee its pension plan, the Gros e company recognizes 10% ofgross earnings as a pension expense s earn fund ings in March were $40,000. No contribution has been made to the pension
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: Zin AI - Your personal assistant for all your inquiries!
