Question

Enter an IF function in cell G3 on the Payroll Details worksheet to calculate the Social Security tax. Social Security funds are used by the government to provide income for people who are retired, a beneficiary of a retiree, or disabled. An employer must withhold 4.2% of an employee’s weekly pay for Social Security. However, an employee is only taxed up to $100,000. The logical test of the IF function should assess if the value in the Pay Year to Date column is greater than or equal to 100000. If the logical test is true, the output of the function should be zero. Otherwise, the function should multiply the value in the Gross Pay This Week by 4.2%. Copy and paste the function into the range G4:G22.

Little Hills Medical Grou Social Security Tax Employee Last Name, First Name Position Practice Rollet, Heather PA Orthopedics Lake, Connie PA Obstetrics Antoine, Gerry PA Adult Internal Med Kade, Michael PA Pediatrics Long, Shari Physician Adult Internal Med James, Don Physician Orthopedics Patel, Sanjev Physician Adult Internal Med Washington, Janet Physician Pediatrics Shin, Burt Physician Obstetrics Kumar, Denise Physician Obstetrics Xu, Weimin Physician Orthopedics Dixey, Bernard Physician Orthopedics Blane, John Physician Pediatrics Li, Wei Staff Group Blanch, Maurice Staff Adult Internal Med Wan, Stanley Staff Pediatrics Harlen, Lori Staff Group Payroll Summary Payroll Details Sheet3 Years of Pay Year to Gross Pay Service Date This Week 0.1 $ 20,400 $ 600 0.2 $ 22,950 $ 675 0.5 $ 24,820 $ 730 0.8 $ 29,410 $ 865 11$ 78,200 $ 2,300 2 $ 71,910 $ 2,115 4 $ 91,800 $ 2,700 4 $ 62,050 $ 1.825 6 $ 104,550 $ 3,075 7 $ 115,600 $ 3,400 8 $ 118,150 $ 3,475 10 $ 137,190 $ 4,035 16 $ 147,050 $ 4,325 0.7 $ 19,550 $ 575 1 $ 19,618 $ 1 $ 29,410 $ 865 2 $ 22,950 $ 577 675

Answer 1

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