Question

Problem 13-04 (Part Level Submission) The following is a payroll sheet for Sweet Imports for the month of September 2020. The company is allowed unemployment compensation rate by the state; the federal unemployment tax rate is 0.8% and the maximum for both is $7,000. Assume a 10% federal income tax rate for all employees and a 7,65% FICA tax on employee and employer on a maximum of $128,400. In addition, 1.45% is charged both employer and employee for an employee's wages in excess of $128,400 per employee (a) Your answer is partially correct. Try again. Complete the payroll sheet. (Round answers to 2 decimal places, e.. Earnings to Aug. 31 September Earnings Name B. D. Williams $6.900 D. Raye 6,500 K Baker 7,600 14 000 F. Lopez 116.100 A Daniels 121.100 Bogton 152001 Total iles and enter for the amounts Credit account inte entry for Make the necessary entry to record the payment of the payroll (Ir no entry requires automatically indented when amount is entered. Do not indent manually.)

Answer 1

Name	Earnings to Aug 31	September Earnings	Income Tax Withholding	FICA	Unemployment Tax
					State	Federal
B. D Williams	$6,900	$700	$70	$53.55	$1.00	$0.80
D. Ray	$6,500	$600	$60	$45.90	$5.00	$4.00
K. Baker	$7,600	$1,200	$120	$91.80
F. Lopez	$14,000	$2,000	$200	$153.00
A. Daniels	$116,100	$14,200	$1,420	$940.95
Kingston	$121,100	$16,500	$1,650	$558.45
Total	$272,200	$35,200	$3,520	$1,843.65	$6.00	$4.80

А Ε 1 FICA Unemployment Tax State Federal =(7000-B3)*1% =(7000-B3)*0.8% =(7000-B4)*1% =(7000-B4)*0.8% 70 Name Earnings to Aug 31 September Earnings Income Tax Withholding 2 3 B.D Williams 16900 700 4. D. Ray 6500 1600 60 5 K. Baker 7600 1200 120 6 F. Lopez 14000 2000 200 7 A. Daniels 116100 14200 1420 8 Kingston 121100 16500 1650 9 Total =SUM(B3:B8) =SUM(C3:08) =SUM(D3:08) 101 =C3*7.65% =C4*7.65% =C5*7.65% =C6*7.65% =(128400-B7)* 7.65% =(128400-B8)*7.65% =SUM(E3:58) =SUM(F3:F8) =SUM(G3:68)