Answered You can hire a professional tutor to get the answer.

QUESTION

Given the following information how the necessary input adjustments would be calculated which accounts are affected by accounting John hires 3

$11.00

Each employee has worked 24 hours during the current week. Fica taxes are 7.05% of the gross pay for both the employee and the employer. the employer must pay 3% of the gross wages to the government for unemployment taxes.

Do not consider the accrued wage expense when making the entries for the employer's FICA and unemployment taxes. Additionally, FICA and FWT are not calculated on accrued wages

(Two adjusting entries are needed. One to accrue the unpaid wages and a second one to record the employer's payroll tax expense)

Show more
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question