14. On March 21st Jamukha recorded salaries owed to employees and payroll taxes. Employee's gross salaries were $8,300. FICA tax was withheld at a rate of 7.65%. Federal income taxes (FIT) of $1,500 were withheld, and state income taxes (SIT) of $600 were withheld. The federal unemployment tax (FUTA) rate was 1%, and the state unemployment tax (SUTA) rate was 3.25% No cash has been paid yet, so record all the amounts due in the appropriate payable accounts
14. On March 21st Jamukha recorded salaries owed to employees and payroll taxes. Employee's gross salaries were $8,300. FICA tax was withheld at a rate of 7.65%. Federal income taxes (FIT) of $1,500 were withheld, and state income taxes (SIT) of $600 were withheld. The federal unemployment tax (FUTA) rate was 1%, and the state unemployment tax (SUTA) rate was 3.25% No cash has been paid yet, so record all the amounts due in the appropriate payable accounts
College Accounting (Book Only): A Career Approach
12th Edition
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cathy J. Scott
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 1E
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![14.
On March 21st Jamukha recorded salaries owed to employees and payroll taxes. Employee's gross
salaries were $8,300. FICA tax was withheld at a rate of 7.65%. Federal income taxes (FIT) of
$1,500 were withheld, and state income taxes (SIT) of $600 were withheld. The federal
unemployment tax (FUTA) rate was 1%, and the state unemployment tax (SUTA) rate was 3.25%
No cash has been paid yet, so record all the amounts due in the appropriate payable accounts.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F60503f1a-7d9c-4311-a55b-cfa321962c83%2Fca06cd88-09cb-442e-a91e-9943fe1a65f8%2Fihnyn6c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:14.
On March 21st Jamukha recorded salaries owed to employees and payroll taxes. Employee's gross
salaries were $8,300. FICA tax was withheld at a rate of 7.65%. Federal income taxes (FIT) of
$1,500 were withheld, and state income taxes (SIT) of $600 were withheld. The federal
unemployment tax (FUTA) rate was 1%, and the state unemployment tax (SUTA) rate was 3.25%
No cash has been paid yet, so record all the amounts due in the appropriate payable accounts.
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