Assuming a 62 percent social security tax rate and a 145


Audrey Valentini earns an hourly wage of $20 with time-and-a-half pay for hours worked over 40 per week. During the most recent week, she worked 46 hours, her federal tax withholding totaled $94, her state tax withholding totaled $28, and $5 was withheld for union dues. Assuming a 6.2 percent social security tax rate and a 1.45 percent Medicare tax rate, prepare the journal entry to record Valentini's wages and related liabilities. Round to the nearest penny.

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Accounting Basics: Assuming a 62 percent social security tax rate and a 145
Reference No:- TGS02559857

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