Solution-What amount should Cado accrue as its share of

What amount should Cado accrue as its share of payroll taxes

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Reference no: EM132446760

Question - Cado Co.'s payroll for the month ended January 31 is summarized as follows:

Total wages $100,000

Amount of wages subject to payroll taxes:

FICA 80,000

Unemployment 20,000

Payroll tax rates:

FICA for employer and employee 7% each

Unemployment 3%

Required - In its January 31 balance sheet, what amount should Cado accrue as its share of payroll taxes?

$10,000

$17,000

$6,200

$11,800

Reference no: EM132446760

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What amount should Cado accrue as its share of payroll taxes

Reference no: EM132446760

Reference no: EM132446760

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