In January, the payroll supervisor determines that gross earnings for Concord Company are $84,000. All earnings are subject to 7.65% FICA taxes, 5.40% state unemployment taxes, and 0.60% federal unemployment taxes. (b) Record the employer's payroll taxes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 125.) Account Titles and Explanation Debit Credit
In January, the payroll supervisor determines that gross earnings for Concord Company are $84,000. All earnings are subject to 7.65% FICA taxes, 5.40% state unemployment taxes, and 0.60% federal unemployment taxes. (b) Record the employer's payroll taxes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 125.) Account Titles and Explanation Debit Credit
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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![In January, the payroll supervisor determines that gross earnings for Concord Company are $84,000. All earnings are subject to 7.65%
FICA taxes, 5.40% state unemployment taxes, and 0.60% federal unemployment taxes.
(b)
Record the employer's payroll taxes. (Credit account titles are automatically indented when amount is entered. Do not indent manually.
Round answers to O decimal places, e.g. 125.)
Account Titles and Explanation
Debit
Credit
[](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4cb0d7ae-c6c8-491d-b556-9cc97654b1ec%2F8f12810c-7a0d-4ffa-a82a-23af864e5643%2Fr3tpgm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In January, the payroll supervisor determines that gross earnings for Concord Company are $84,000. All earnings are subject to 7.65%
FICA taxes, 5.40% state unemployment taxes, and 0.60% federal unemployment taxes.
(b)
Record the employer's payroll taxes. (Credit account titles are automatically indented when amount is entered. Do not indent manually.
Round answers to O decimal places, e.g. 125.)
Account Titles and Explanation
Debit
Credit
[
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