Payment of wages and record the payroll tax


Harriet Pandel, an employer, is subject to FICA taxes but exempt from FUTA and SUTA taxes. During last quarter of the year, her employees earned monthly wages of $16,900, all of which is taxable. The amount of federal income taxes withheld each month is $1,698. Journalize the payment of wages and record the payroll tax on November 29.

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Accounting Basics: Payment of wages and record the payroll tax
Reference No:- TGS040100

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