A company has four employees.

timer Asked: Apr 10th, 2016

Question description

A company has four employees. Total salaries for the month of April were $12,000. The federal income tax rate for all employees is 15%. The FICA—social security tax rate is 6.2% and the FICA—Medicare tax rate is 1.45%. Calculate the amount of employee taxes withheld and prepare the company's journal entry to record the April payroll assuming these were the only deductions.  

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