A-6 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?

The payroll taxes are the taxes that employers deduct from the salary of employees and deposit the…

Answered: Department Payroll Factory Sales Total…

Department Payroll Factory Sales Total Wages $77000 23000 Federal Income Tax Withheld $8000 4000 Amount of Wages Subject to Payroll Taxes F.I.C.A. $71000 16000 Unemployment $31000 2000

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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Question

A-6

Department
Payroll
Factory
Sales
Office
Total Wages
$77000
23000
17000
O $22430.
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
Amount of Wages Subject
to Payroll Taxes
F.I.C.A.
$71000
16000
6000
$14000 $93000
Unemployment
$31000
2000
$33000
What amount should Pharoah accrue as its share of payroll taxes in its October 31, 2026 balance sheet?

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