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Triston Vale is paid on a monthly basis.For the month of January of the current year,he earned a total of $5,210.FICA tax for Social Security is 6.2% and the FICA tax for Medicare is 1.45%.The FUTA tax rate is 0.6%,and the SUTA tax rate is 5.4%.Both unemployment taxes are applied to the first $7,000 of an employee's pay.The amount of Federal Income Tax withheld from his earnings was $885.70.What is the amount of the employer's payroll taxes expenses for this employee?
Current Ratio
The current ratio is a financial metric used to evaluate a company's ability to pay its short-term obligations, calculated by dividing current assets by current liabilities.
Accounts Receivable
Represents the money owed to a company by its customers for products or services that have been delivered but not yet paid for.
Equipment
Equipment encompasses tangible assets, excluding land and buildings, that are used in operations and have a useful life beyond a single accounting period, such as machinery and vehicles.
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