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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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