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Using the Information Provided Below, Prepare a Journal Entry to Record

question 46

Essay

Using the information provided below, prepare a journal entry to record the payroll tax expense for Mr. B's Carpentry. Using the information provided below, prepare a journal entry to record the payroll tax expense for Mr. B's Carpentry.   Assume: FICA tax rates are: OASDI 6.2% on a limit of $128,400 and Medicare 1.45%. State unemployment tax rate is 2% on the first $7,000. Federal unemployment tax rate is 0.8% on the first $7,000. Assume:
FICA tax rates are: OASDI 6.2% on a limit of $128,400 and Medicare 1.45%.
State unemployment tax rate is 2% on the first $7,000.
Federal unemployment tax rate is 0.8% on the first $7,000.


Definitions:

Trophic Level

Position of an organism in a food chain.

Chaparral Biome

A biome characterized by dense, spiny shrubs and a Mediterranean climate, with hot, dry summers and mild, wet winters, typically found in California and the Mediterranean region.

Primary Production

The rate at which an ecosystem’s producers capture and store energy.

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