Lee financial services pays employees monthly. payroll information is listed below for january 2018, the first month of lee's fiscal year. assume that none of the employees exceeded any relevant wage base. salaries $ 500,000 federal income taxes to be withheld 100,000 federal unemployment tax rate 0.60 % state unemployment tax rate (after futa deduction) 5.40 % social security tax rate 6.20 % medicare tax rate 1.45 % required: calculate the income and payroll taxes for the january 2018 pay period. prepare the appropriate journal entries to record salaries and wages expense (not paid) and payroll tax expense for the january 2018 pay period.

Dr. sperry, a biologist, is using excel to track growth rates of different populations of bacteria. she has a very complex formula in one cell. it begins with “round”. dr. sperry would like to see exactly how excel’s calculation reached the final rounded value that she sees in the cell. what could dr. sperry do to best understand how the calculation was made? try different formulas on her own until she reaches the value shown in excel click on the evaluate formula button in the formulas tab and then click “step in” select the cell and then look at the formula in the formula field of the ribbon remove “round” from the formula in order to see the actual value before rounding