aj.8 DepartmentPayrollFactorySalesOfficeTotal Wages$770002300017000O $22430.O $8430.O $14830.O $9030.$117000Assume the following payroll tax rates:F.I.C.A. for employer and employeeUnemploymentFederal Income Tax Withheld8% each3%$800040002000Amount of Wages Subjectto Payroll TaxesF.I.C.A.$71000160006000$14000 $93000Unemployment$310002000$33000What amount should Pharoah accrue as its share of payroll taxes in its October 31, 2026 balance sheet?

Payroll taxes refer to those taxes paid by both employer and employee in order to fund the employee…

Department Payroll Factory Sales Office Total Wages $77000 23000 $22430. 17000 O $8430. O $14830. O $9030. $117000 Assume the following payroll tax rates: F.I.C.A. for employer and employee Unemployment Federal Income Tax Withheld 8% each 3% $8000 4000 2000 $14000 Amount of Wages Subject to Payroll Taxes F.I.C.A. $71000 16000 6000 $93000 Unemployment $31000 2000 What amount should Pharoah accrue as its share of payroll taxes in its October 31, 2026 balance sheet? $33000

Department Payroll Factory Sales Office Total Wages $77000 23000 $22430. 17000 O $8430. O $14830. O $9030. $117000 Assume the following payroll tax rates: F.I.C.A. for employer and employee Unemployment Federal Income Tax Withheld 8% each 3% $8000 4000 2000 $14000 Amount of Wages Subject to Payroll Taxes F.I.C.A. $71000 16000 6000 $93000 Unemployment $31000 2000 What amount should Pharoah accrue as its share of payroll taxes in its October 31, 2026 balance sheet? $33000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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