During the month of February, Ivanhoe Corporation's employees earned wages of $73,700. Withholdings related to these wages were $5,638 for FICA, $7,070 for federal income tax, and $1,800 for state income tax. Costs incurred for unemployment taxes were $130 for federal and $180 for state.
During the month of February, Ivanhoe Corporation's employees earned wages of $73,700. Withholdings related to these wages were $5,638 for FICA, $7,070 for federal income tax, and $1,800 for state income tax. Costs incurred for unemployment taxes were $130 for federal and $180 for state.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 6E: On January 21, the column totals of the payroll register for Great Products Company showed that its...
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