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Gross earnings: Regular Overtime Total Deductions FICA taxes $8.200 $(2) $950 State income taxes Union dues Total deductions Net pay Account debited: Salaries and wages expense $(3) 140 $(4) $9,804 (5) low, some hounts are inte

Gross earnings: Regular Overtime Total Deductions FICA taxes $8.200 $(2) $950 State income taxes Union dues Total deductions Net pay Account debited: Salaries and wages expense $(3) 140 $(4) $9,804 (5) low, some hounts are inte

FINANCIAL ACCOUNTING
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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Selected data from a February payroll register for Concord Company are presented below. Some amounts are intentionally omitted. Gross earnings: $(3) Regular Overtime Total Deductions FICA taxes Federal income taxes $8.200 $(2) $950 1,027 State income taxes Union dues Total deductions Net pay Account debited: Salaries and wages expense FICA taxes are 7.65%. State income taxes are 4% of gross earnings 140 $(4) $9,804 (5)
Transcribed Image Text:Selected data from a February payroll register for Concord Company are presented below. Some amounts are intentionally omitted. Gross earnings: $(3) Regular Overtime Total Deductions FICA taxes Federal income taxes $8.200 $(2) $950 1,027 State income taxes Union dues Total deductions Net pay Account debited: Salaries and wages expense FICA taxes are 7.65%. State income taxes are 4% of gross earnings 140 $(4) $9,804 (5)
Fill in the missing amounts. (Round answers to O decimal places, e.g. 125.) Gross earnings: Regular Overtime Total Deductions FICA taxes Federal income taxes $ $8,200 12418 $950 1,027 (1) (2) State income taxes Union dues Total deductions Net pay Account debited: Salaries and wages expense * $ $ 140 $9,804 (3) (4) (5)
Transcribed Image Text:Fill in the missing amounts. (Round answers to O decimal places, e.g. 125.) Gross earnings: Regular Overtime Total Deductions FICA taxes Federal income taxes $ $8,200 12418 $950 1,027 (1) (2) State income taxes Union dues Total deductions Net pay Account debited: Salaries and wages expense * $ $ 140 $9,804 (3) (4) (5)
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