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The payroll of Delaney company for September 2010 is as follows:Total payroll was $480,000, of which $140,000 is exempt from Social Security tax because it represented amounts paid in excess of $102,000 to certain employees. The amount paid to employees in excess of $7,000 was $410,000. Income taxes in the amount of $80,000 were withheld, as was $9,000 in union dues. The state unemployment tax is 3.5%, but Delaney company is allowed a credit of 2.3% by the state for its unemployment experience. Also, assume that the current F.I.C.A. tax is 7.65% on an employee's wages to $102,000 and 1.45% in excess of $102,000. No employee for Delaney makes more than $125,000. The federal unemployment tax rate is 0.8% after state credit.
Instructions: Prepare the necessary journal entries if the wages and salaries paid and the employer payroll taxes are recorded separately.
during the last year of operations accounts receivable increased by 10900 accounts payable increased by 5900 and
use a selected company or your current work environment to identify at least one cost or expense that would fit under
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