The total employees Social Security tax was $ John Waits owns a small shop with three employees. For one payroll period the total withholding tax for employees was $1, and the total employer's Social Security tax was $171. The total employees' Medicare tax was $116 How much must John deposit as the employer's share of Social Security tax a Medicare tax? What is the total tax that must be deposited? John must deposit $ as the employer's share of Social Security tax and Medicare tax. (Simplify your answer.) The total tax that must be deposited is $ (Simplify your answer.)

The total employees Social Security tax was $ John Waits owns a small shop with three employees. For one payroll period the total withholding tax for employees was $1, and the total employer's Social Security tax was $171. The total employees' Medicare tax was $116 How much must John deposit as the employer's share of Social Security tax a Medicare tax? What is the total tax that must be deposited? John must deposit $ as the employer's share of Social Security tax and Medicare tax. (Simplify your answer.) The total tax that must be deposited is $ (Simplify your answer.)

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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