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PROBLEM V: PREPARING THE PAYROLL TAX ENTRY (10 Using the information below, determine the amount of the payroll period ending March 31, 20xx. In your answer, list the amount for FICA: SO FUTA, and SUTA. Then, record the payroll "tax" expense journal entry of the em mine the amount of the payroll "tax" expense incurred for Mary Jane's Pies for the T, list the amount for FICA: (Social Security and Medicare), Employee Cumulative Gross Pay (Earnings) Prior to Current Period...
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The 42 on FUTA is wrong Please correct me and explain your
answers.
Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee....
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AZT Company has one employee. She has earned $5,778 through March 15th. She will be paid $1.364 on the current pay period ending March 31st. FICA Social Security taxes are 6.2% of the first $118.500 of wages and FICA Medicare taxes are 1.45% of wages. FUTA taxes are 0.6% of the first $7,000 of wages and SUTA taxes are 5.4% of the first $7,000 of wages. The employee will have $204.60 withheld for Federal income taxes and $68.20 for State...
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PROBLEM IY: PREPARING THE PAYR Using the information below, determine the pay the prepare the payrollator for Brooks Com ARING THE "PAYROLL ENTRY CLO POINTS Assume the following ne the payroll uks Company for the current payroll period calentay ding November 1 Federal Income Tax is 20% of gross pay 12) State Income Tax is 5% of gross pay 13] FICA Tax Sosial Secu CA Tax - Social Security Tax is 62 WageCap-5122,700. FICA Tax - Medicare 14 NO WAGE...
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complete the tables
Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 62% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX,its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee Gross Pay through August 31 $ 5,400 2,450 123,000 Gross Pay...
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I need to figure out the September earnings subject to tax for
FUTA & SUTA. And also the general journal.
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7.000 paid to its employee. Gross Pay through August 31 $ 5,600 2,550 123,200 Gross Pay for...
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A company's employees had the following earnings records on June 30, the current payroll period: Employees Earnings Earnings this FICA FICA Income Med Net Pay FUTAI FUTA SUTA through Prior Pay Period SS Med Taxes Ins SUTA Pay Period W/H W/H W/H W/H Taxable Earnings D. Adams $11,300 $3,900 $900 J. Hess 6,100 2,500 500 R. Lui 9,500 3,100 600 T. Morales 4,800 1,400 300 L. Vang 10,000 3,000 600 Totals The company's payroll taxes expense on each employee's earnings...
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Required information
Use the following information for the Exercises below.
[The following information applies to the questions
displayed below.]
BMX Company has one employee. FICA Social Security taxes are 6.2%
of the first $128,400 paid to its employee, and FICA Medicare taxes
are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA
taxes are 5.4% of the first $7,000 paid to its employee.
Gross Pay through
August 31
Gross Pay for September
a.
$
6,100
$...
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Required information [The following information applies to the questions displayed below.) Part 1 of 3 0.62 points BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Gross Pay for September Gross Pay through August 31 $ 6,200 2,850 123,800 a. b....
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AZT Company has one employee. She has earned $5,778 through March 15th. She will be paid $1,364 on the current pay period ending March 31st. FICA Social Security taxes are 6.2% of the first $118,500 of wages and FICA Medicare taxes are 1.45% of wages. FUTA taxes are 0.6% of the first $7,000 of wages and SUTA taxes are 5.4% of the first $7,000 of wages. The employee will have $204.60 withheld for Federal income taxes and $68.20 for State...
PROBLEM V: PREPARING THE PAYROLL TAX ENTRY (10 Using the information below, determine the amount of the payroll period ending March 31, 20xx. In your answer, list the amount for FICA: SO FUTA, and SUTA. Then, record the payroll "tax" expense journal entry of the em mine the amount of the payroll "tax" expense incurred for Mary Jane's Pies for the T, list the amount for FICA: (Social Security and Medicare), Employee Cumulative Gross Pay (Earnings) Prior to Current Period...
The 42 on FUTA is wrong Please correct me and explain your
answers.
Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee....
AZT Company has one employee. She has earned $5,778 through March 15th. She will be paid $1.364 on the current pay period ending March 31st. FICA Social Security taxes are 6.2% of the first $118.500 of wages and FICA Medicare taxes are 1.45% of wages. FUTA taxes are 0.6% of the first $7,000 of wages and SUTA taxes are 5.4% of the first $7,000 of wages. The employee will have $204.60 withheld for Federal income taxes and $68.20 for State...
PROBLEM IY: PREPARING THE PAYR Using the information below, determine the pay the prepare the payrollator for Brooks Com ARING THE "PAYROLL ENTRY CLO POINTS Assume the following ne the payroll uks Company for the current payroll period calentay ding November 1 Federal Income Tax is 20% of gross pay 12) State Income Tax is 5% of gross pay 13] FICA Tax Sosial Secu CA Tax - Social Security Tax is 62 WageCap-5122,700. FICA Tax - Medicare 14 NO WAGE...
complete the tables
Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 62% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX,its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee Gross Pay through August 31 $ 5,400 2,450 123,000 Gross Pay...
I need to figure out the September earnings subject to tax for
FUTA & SUTA. And also the general journal.
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7.000 paid to its employee. Gross Pay through August 31 $ 5,600 2,550 123,200 Gross Pay for...
A company's employees had the following earnings records on June 30, the current payroll period: Employees Earnings Earnings this FICA FICA Income Med Net Pay FUTAI FUTA SUTA through Prior Pay Period SS Med Taxes Ins SUTA Pay Period W/H W/H W/H W/H Taxable Earnings D. Adams $11,300 $3,900 $900 J. Hess 6,100 2,500 500 R. Lui 9,500 3,100 600 T. Morales 4,800 1,400 300 L. Vang 10,000 3,000 600 Totals The company's payroll taxes expense on each employee's earnings...
Required information
Use the following information for the Exercises below.
[The following information applies to the questions
displayed below.]
BMX Company has one employee. FICA Social Security taxes are 6.2%
of the first $128,400 paid to its employee, and FICA Medicare taxes
are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA
taxes are 5.4% of the first $7,000 paid to its employee.
Gross Pay through
August 31
Gross Pay for September
a.
$
6,100
$...
Required information [The following information applies to the questions displayed below.) Part 1 of 3 0.62 points BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Gross Pay for September Gross Pay through August 31 $ 6,200 2,850 123,800 a. b....
AZT Company has one employee. She has earned $5,778 through March 15th. She will be paid $1,364 on the current pay period ending March 31st. FICA Social Security taxes are 6.2% of the first $118,500 of wages and FICA Medicare taxes are 1.45% of wages. FUTA taxes are 0.6% of the first $7,000 of wages and SUTA taxes are 5.4% of the first $7,000 of wages. The employee will have $204.60 withheld for Federal income taxes and $68.20 for State...