Airline Temporary Services (ATS) pays employees monthly. Payroll information is listed below for January, the...
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Accounting
Airline Temporary Services ATS pays employees monthly. Payroll information is listed below for January, the first month of ATSs fiscal year. Assume that none of the employees exceeds the federal unemployment tax maximum salary of $ in January.
Salaries expense $
Federal and state income tax withheld
Federal unemployment tax rate
State unemployment tax rate after FUTA deduction
Social Security FICA tax rate
Required:
Record salaries expense and payroll tax expense for the January pay period.
Record the employee salary, withholdings, and salaries payable.
Record the employer payroll tax expense.
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