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Ramona Porter's cumulative earnings (YTD) before this pay period
were $28,900. Her gross pay for this week is $425.
1. What is the amount that she will have deducted from this
paycheck for Social Security taxes?
2. What is the amount that she will have deducted from this
paycheck for Medicare taxes?
SOCIAL SECURITY TAX RATE: 6.2% MEDICARE TAX RATE: 1.45% MAXIMUM TAXABLE SALARY: $110,100 Payroll Period Weekly Biweekly Semimonthly Monthly Quarterly Semiannually Annually Daily or miscellaneous (each day of...
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Ramona Porter's cumulative
earnings (YTD) before this pay period were $28,900. Her gross pay
for this week is $425. 1. What is the amount that she will have
deducted from this paycheck for Social Security taxes? 2. What is
the amount that she will have deducted from this paycheck for
Medicare taxes?
TABLE 2—BIWEEKLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person, If the amount of wages (after If the amount of wages (after subtracting withholding...
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Ursula Lang's cumulative earnings (YTD) before this pay period
were $107,200. Her gross pay for this week is $4,500.
1. What is the amount that she will have deducted from this
paycheck for Social Security taxes?
2. What is the amount that she will have deducted from this
paycheck for Medicare taxes?
SOCIAL SECURITY TAX RATE: 6.2% MEDICARE TAX RATE: 1.45% MAXIMUM TAXABLE SALARY: $110,100 Payroll Period Weekly Biweekly Semimonthly Monthly Quarterly Semiannually Annually Daily or miscellaneous (each day of...
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On January 15, the end of the first biweekly pay period of the
year, North Company’s payroll register showed that its employees
earned $50,000 of sales salaries. Withholdings from the employees’
salaries include FICA Social Security taxes at the rate of 6.2%,
FICA Medicare taxes at the rate of 1.45%, $2,300 of federal income
taxes, $1,175 of medical insurance deductions, and $220 of union
dues. No employee earned more than $7,000 in this first period.
Prepare the journal entry to...
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On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees earned $30,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $484 of medical insurance deductions, and $260 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to...
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Dennis Toby is married with four allowances. He is paid a
BIWEEKLY salary of $1,200. He will not reach the maximum taxable
salary for Social Security purposes.
1. What is the amount that he will have deducted for Social
Security taxes?
2. What is the amount that he will have deducted for Medicare
taxes?
3. Using the percentage method, what is the amount that he will
have deducted for FIT (Federal Income Tax)?
4. What is his net pay?
SOCIAL...
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Tom Hanson, single, claiming one exemption, has cumulative earnings before this biweekly pay period of $126,000. If he is paid $1,930 this period, what will his deductions be for FIT and FICA (OASDI and Medicare)? The FICA tax rate for Social Security is 6.2% on $127,200, and Medicare is 1.45% on all earnings. Round to nearest cent as needed.
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Len Mast is married with three allowances. His weekly gross pay
is $1,250. He will not reach the maximum taxable salary for Social
Security purposes.
1. What is the amount that he will have deducted for Social
Security taxes?
2. What is the amount that he will have deducted for Medicare
taxes?
3. Using the percentage method, what is the amount that he will
have deducted for FIT (Federal Income Tax)?
4. What is his net pay?
SOCIAL SECURITY TAX...
-
On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees earned $28,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2% FICA Medicare taxes at the rate of 1.45%, $3,800 of federal income taxes, $678 of medical insurance deductions, and $190 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to...
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Martin is married and claims four exemptions on his W-4. What is his federal income tax withholding under the following condition Assume that his employer uses the percentage method of withholding. Use withholding allowance and percentage method table d. Martin is paid semimonthly, and his gross pay is $2,600 per paycheck. b. Martin is paid monthly, and his gross pay is $4,900 per paycheck. c. Martin is paid weekly, and his gross pay is $3,100 per paycheck. (For all requirements,...
Ramona Porter's cumulative earnings (YTD) before this pay period
were $28,900. Her gross pay for this week is $425.
1. What is the amount that she will have deducted from this
paycheck for Social Security taxes?
2. What is the amount that she will have deducted from this
paycheck for Medicare taxes?
SOCIAL SECURITY TAX RATE: 6.2% MEDICARE TAX RATE: 1.45% MAXIMUM TAXABLE SALARY: $110,100 Payroll Period Weekly Biweekly Semimonthly Monthly Quarterly Semiannually Annually Daily or miscellaneous (each day of...
Ramona Porter's cumulative
earnings (YTD) before this pay period were $28,900. Her gross pay
for this week is $425. 1. What is the amount that she will have
deducted from this paycheck for Social Security taxes? 2. What is
the amount that she will have deducted from this paycheck for
Medicare taxes?
TABLE 2—BIWEEKLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person, If the amount of wages (after If the amount of wages (after subtracting withholding...
Ursula Lang's cumulative earnings (YTD) before this pay period
were $107,200. Her gross pay for this week is $4,500.
1. What is the amount that she will have deducted from this
paycheck for Social Security taxes?
2. What is the amount that she will have deducted from this
paycheck for Medicare taxes?
SOCIAL SECURITY TAX RATE: 6.2% MEDICARE TAX RATE: 1.45% MAXIMUM TAXABLE SALARY: $110,100 Payroll Period Weekly Biweekly Semimonthly Monthly Quarterly Semiannually Annually Daily or miscellaneous (each day of...
On January 15, the end of the first biweekly pay period of the
year, North Company’s payroll register showed that its employees
earned $50,000 of sales salaries. Withholdings from the employees’
salaries include FICA Social Security taxes at the rate of 6.2%,
FICA Medicare taxes at the rate of 1.45%, $2,300 of federal income
taxes, $1,175 of medical insurance deductions, and $220 of union
dues. No employee earned more than $7,000 in this first period.
Prepare the journal entry to...
On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees earned $30,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $484 of medical insurance deductions, and $260 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to...
Dennis Toby is married with four allowances. He is paid a
BIWEEKLY salary of $1,200. He will not reach the maximum taxable
salary for Social Security purposes.
1. What is the amount that he will have deducted for Social
Security taxes?
2. What is the amount that he will have deducted for Medicare
taxes?
3. Using the percentage method, what is the amount that he will
have deducted for FIT (Federal Income Tax)?
4. What is his net pay?
SOCIAL...
Tom Hanson, single, claiming one exemption, has cumulative earnings before this biweekly pay period of $126,000. If he is paid $1,930 this period, what will his deductions be for FIT and FICA (OASDI and Medicare)? The FICA tax rate for Social Security is 6.2% on $127,200, and Medicare is 1.45% on all earnings. Round to nearest cent as needed.
Len Mast is married with three allowances. His weekly gross pay
is $1,250. He will not reach the maximum taxable salary for Social
Security purposes.
1. What is the amount that he will have deducted for Social
Security taxes?
2. What is the amount that he will have deducted for Medicare
taxes?
3. Using the percentage method, what is the amount that he will
have deducted for FIT (Federal Income Tax)?
4. What is his net pay?
SOCIAL SECURITY TAX...
On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees earned $28,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2% FICA Medicare taxes at the rate of 1.45%, $3,800 of federal income taxes, $678 of medical insurance deductions, and $190 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to...
Martin is married and claims four exemptions on his W-4. What is his federal income tax withholding under the following condition Assume that his employer uses the percentage method of withholding. Use withholding allowance and percentage method table d. Martin is paid semimonthly, and his gross pay is $2,600 per paycheck. b. Martin is paid monthly, and his gross pay is $4,900 per paycheck. c. Martin is paid weekly, and his gross pay is $3,100 per paycheck. (For all requirements,...