According to a summary of the payroll of matrix publishing

Reference no: EM13614772

According to a summary of the payroll of Matrix Publishing Co.,$380,000 was subject to the 7.5% FICA tax. Also, $16,000 wassubject to state and federal unemployment taxes.

a. Calculate the employer's payroll taxes, using thefollowing rates: state unemployment, 4.3%; federal unemployment,0.8%.

b. Illustrate the effects on the accounts and financial statements of recording the accrual of payroll taxes.

Reference no: EM13614772

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