Telesys pays it employees monthly. The payroll information listed below is for January 2022, the first month of BMS's fiscal year. Assume none of the employee's earnings reached $7,000 during the month. Salaries - $94,000 Federal income taxes to be withheld - 19, 000 Federa; unemployment tax rate (after SUTA deduction) - 0.80% State unemployment tax rate (SUTA) - 5.00% Social security tax rate - 6.20% Medicare tax rate 1.45% Calculate the amount of total payroll deductions recorded by Telesys for January 2022.

Telesys pays it employees monthly. The payroll information listed below is for January 2022, the first month of BMS's fiscal year. Assume none of the employee's earnings reached $7,000 during the month. Salaries - $94,000 Federal income taxes to be withheld - 19, 000 Federa; unemployment tax rate (after SUTA deduction) - 0.80% State unemployment tax rate (SUTA) - 5.00% Social security tax rate - 6.20% Medicare tax rate 1.45% Calculate the amount of total payroll deductions recorded by Telesys for January 2022.

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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