Required information [The following information applies to the questions displayed below.] Bobby Darling is the only employee of Atlantic Records, Inc. During the first week of January, Darling earned $1,600.00 and had federal and state income tax withholdings of $80.00 and $30.00, respectively. FICA taxes are 7.65 % on earnings up to $117,000. State and federal unemployment taxes for the period are $100.00 and $16.00, respectively. What is the employer's payroll tax expense for the week? Multiple Cholce $348.40 $238.40 $470.80 $226.00
Required information [The following information applies to the questions displayed below.] Bobby Darling is the only employee of Atlantic Records, Inc. During the first week of January, Darling earned $1,600.00 and had federal and state income tax withholdings of $80.00 and $30.00, respectively. FICA taxes are 7.65 % on earnings up to $117,000. State and federal unemployment taxes for the period are $100.00 and $16.00, respectively. What is the employer's payroll tax expense for the week? Multiple Cholce $348.40 $238.40 $470.80 $226.00
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 4E
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![Required information
[The following information applies to the questions displayed below.]
Bobby Darling is the only employee of Atlantic Records, Inc. During the first week of
January, Darling earned $1,600.00 and had federal and state income tax withholdings of
$80.00 and $30.00, respectively. FICA taxes are 7.65 % on earnings up to $117,000. State
and federal unemployment taxes for the period are $100.00 and $16.00, respectively.
What is the employer's payroll tax expense for the week?
Multiple Cholce
$348.40
$238 40
$470.80
$226.00
Stock
Sepositphoto](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbe308abc-98ff-49d3-b9d9-e3798f636d2a%2F58e01f45-c487-4930-9967-73d520aca04a%2Fqlm2has_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Bobby Darling is the only employee of Atlantic Records, Inc. During the first week of
January, Darling earned $1,600.00 and had federal and state income tax withholdings of
$80.00 and $30.00, respectively. FICA taxes are 7.65 % on earnings up to $117,000. State
and federal unemployment taxes for the period are $100.00 and $16.00, respectively.
What is the employer's payroll tax expense for the week?
Multiple Cholce
$348.40
$238 40
$470.80
$226.00
Stock
Sepositphoto
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