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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Using the data in situation a of Exercise 11-6, prepare the employer’s September 30 journal entries to record (1) salary expense and its related payroll liabilities for this employee and (2) the employer’s payroll taxes expense and its related liabilities. The employee’s federal income taxes withheld by the employer are $135 for this pay period. Tax Rate Applied To FICA—Social Security . . . . . . . 6.20% First $87,000 FICA—Medicare . . . . . . . . . . . 1.45 All gross pay FUTA . . . . . . . . . . . . . . . . . . . 0.80 First $7,000 SUTA . . . . . . . . . . . . . . . . . . . 2.90 First $7,000 Gross Pay Gross through Pay for August September a. $ 6,400 $ 800 b. 18,200 2,100 c. 82,000 8,000
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