What is the general journal entry to liquidate

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Question - Acme Company has a January 15 mid-month gross salaries expense of $25,000. All is subject to FICA Social Security (6.2%), FICA Medicare (1.45%), state income tax (5%) and federal income tax (15%) withholdings. Additionally, all is subject to employer taxes to include FUTA (0.8%) and SUTA (5.4%) taxes.

a. What is the general journal entry to record the employer's payroll liability?

b. What is the general journal entry to record the employer's payroll-tax liability?

c. What is the general journal entry to liquidate the liabilities accrued in parts (a) and (b) on January 22?

Reference no: EM132058911

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