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  • Sep 29, 2012, 06:13 PM
    AngLB
    Trying to figure this out but book doesn't help
    According to a summary of the payroll of Newman Publishing Co. $600,000 was
    Subject to the 7.5% FICA tax. Also, $50,000 was subject to state and federal unemployment
    Taxes.
    a. Calculate the employer’s payroll taxes, using the following rates: state unemployment,
    4.3%; federal unemployment, 0.8%.
    b. Illustrate the effects on the accounts and financial statements of recording
    The accrual of payroll taxes.

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