Funke Corporation has only five employees who are all paid $1,050 per week. Compute the total...
Funke Corporation has only five employees who are all paid $1,050 per week. Compute the total FICA taxes that the employer would withhold from the five employees each week and the amount the company would pay as its own liability for the employer's share of the FICA taxes on the weekly wages of the five employees:
Round your taxable wages per paycheck to the nearest cent.
| Employees' total OASDI | $ |
| Employees' total HI | $ |
| Employer's total OASDI | $ |
| Employer's total HI | $ |
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Funke Corporation has only five employees who are all paid
$1,050 per week. Compute the total...
Volpe Corporation has only four employees who are all paid $1,080 per week. Compute the total...
Volpe Corporation has only four employees who are all paid $1,080 per week. Compute the total FICA taxes that the employer would withhold from the four employees each week and the amount the company would pay as its own liability for the employer's share of the FICA taxes on the weekly wages of the four employees: Round your taxable wages per paycheck to the nearest cent. Employees' total OASDI Employees' total HI Employer's total OASDI Employer's total HI Example 3-2...
U S W are all paid $1,050 per week. Compute the total FICA taxes that the...
U S W are all paid $1,050 per week. Compute the total FICA taxes that the employer would withhold from the five employees each week and the amount the employees each week and the amount the company would pay as its own liability for the employer's share of the FICA taxes on the weekly wages of the five employees Employees' total OASDI.... Employees' total HI.... Employer's total OASDI Employer's total Hl.... 3-8BLO 3 See Example 3-5 on page 3-13 ME...
Example 3-1 Example 3-2 Wallington Company has 100 employees, each eaming $525.25 a week. $32.57 $3,257.00...
Example 3-1 Example 3-2 Wallington Company has 100 employees, each eaming $525.25 a week. $32.57 $3,257.00 (6.2% x $525.25) ($32.57 x 100) [6.2% ($525.25 x 100)] $3,256.55 OASDI Amount of OASDI tax withheld from each employee's paycheck each week: Total tax withheld from the 100 employees' wages: Tax on employer: НІ Amount of HI tax withheld from each employee's paycheck each week: Total tax withheld from the 100 employees' wages is: Tax on employer: $7.62 (1.45% x $525.25) $762.00 ($7.62...
Example 3-2 Wallington Company has 100 employees, each earning $525.25 a week. OASDI Amount of OASDI...
Example 3-2 Wallington Company has 100 employees, each earning $525.25 a week. OASDI Amount of OASDI tax withheld from each employee's paycheck each week: $32.57 (6.2% × $525.25) Total tax withheld from the 100 employees' wages: $3,257.00 ($32.57 × 100) Tax on employer: $3,256.55 [6.2% × ($525.25 × 100)] HI Amount of HI tax withheld from each employee's paycheck each week: $7.62 (1.45% × $525.25) Total tax withheld from the 100 employees' wages is: $762.00 ($7.62 × 100) Tax on...
Example 3-2 Wallington Company has 100 employees, each earning $525.25 a week. OASDI Amount of OASDI...
Example 3-2 Wallington Company has 100 employees, each earning $525.25 a week. OASDI Amount of OASDI tax withheld from each employee's paycheck each week: $32.57 (6.2% × $525.25) Total tax withheld from the 100 employees' wages: $3,257.00 ($32.57 × 100) Tax on employer: $3,256.55 [6.2% × ($525.25 × 100)] HI Amount of HI tax withheld from each employee's paycheck each week: $7.62 (1.45% × $525.25) Total tax withheld from the 100 employees' wages is: $762.00 ($7.62 × 100) Tax on...
Marlene Grady and Pauline Monroe are partners engaged in operating The G&M Doll Shop, which has...
Marlene Grady and Pauline Monroe are partners engaged in operating The G&M Doll Shop, which has employed the following persons since the beginning of the year: $3,000 per month V. Hoffman (general office worker) A. Drugan (saleswoman) $15,000 per year G. Beiter (stock clerk) per week S. Egan (deliveryman) $177 $300 $155 per week per week B. Lin (cleaning and maintenance, part-time) Grady and Monroe are each paid a weekly salary allowance of $1,350. The doll shop is located in...
Use the following tax rates and taxable wage bases; employee's and employer's OASDI 6.2% both on...
Use the following tax rates and taxable wage bases; employee's
and employer's OASDI 6.2% both on $132,900 HI 1.45% for employees
and employers on the total wages paid. Employees Supplemental HI
0.9 percent on wages in excess of $200,000 was not applicable.
Instruction 3-1 Use the following tax rates and taxable wage bases: Employees' and Employer's OASDI—6.2% both on $132,900; HI—1.45% for employees and employers on the total wages paid. Employees' Supplemental HI of 0.9 percent on wages in excess...
The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Emp...
The names of the employees of Hogan Thrift Shop are listed on
the following payroll register. Employees are paid weekly. The
marital status and the number of allowances claimed are shown on
the payroll register, along with each employee's weekly salary,
which has remained the same all year. Complete the payroll register
for the payroll period ending December 21, the 51st weekly payday.
The state income tax rate is 2% of total earnings, the city income
tax rate is 1.5%...
Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, use...
Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, use the following rates, celling, and maximum taxes. Employee and Employer OASDI: 6.20% $128,400 $7,960.80 Employee* and Employer HI: 1.45% No limit No maximum Self-employed OASDI: 12.4% $128,400 $15,921.60 Self-employed HI: 2.9% No limit No maximum 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places...
Vulcra, Inc., has a semimonthly payroll of $67,000 on September 15, 20--. The total payroll is...
Vulcra, Inc., has a semimonthly payroll of $67,000 on September 15, 20--. The total payroll is taxable under FICA Taxes-HI; $63,850 is taxable under FICA Taxes-OASDI; and $10,300 is taxable under FUTA and SUTA. The state contribution rate for the company is 4.1%. The amount withheld for federal income taxes is $9,911. The amount withheld for state income taxes is $1,410. a. Journalize the payment of the wages, and record the payroll taxes on September 15. If an amount box...
Volpe Corporation has only four employees who are all paid $1,080 per week. Compute the total FICA taxes that the employer would withhold from the four employees each week and the amount the company would pay as its own liability for the employer's share of the FICA taxes on the weekly wages of the four employees: Round your taxable wages per paycheck to the nearest cent. Employees' total OASDI Employees' total HI Employer's total OASDI Employer's total HI Example 3-2...
U S W are all paid $1,050 per week. Compute the total FICA taxes that the employer would withhold from the five employees each week and the amount the employees each week and the amount the company would pay as its own liability for the employer's share of the FICA taxes on the weekly wages of the five employees Employees' total OASDI.... Employees' total HI.... Employer's total OASDI Employer's total Hl.... 3-8BLO 3 See Example 3-5 on page 3-13 ME...
Example 3-1 Example 3-2 Wallington Company has 100 employees, each eaming $525.25 a week. $32.57 $3,257.00 (6.2% x $525.25) ($32.57 x 100) [6.2% ($525.25 x 100)] $3,256.55 OASDI Amount of OASDI tax withheld from each employee's paycheck each week: Total tax withheld from the 100 employees' wages: Tax on employer: НІ Amount of HI tax withheld from each employee's paycheck each week: Total tax withheld from the 100 employees' wages is: Tax on employer: $7.62 (1.45% x $525.25) $762.00 ($7.62...
Marlene Grady and Pauline Monroe are partners engaged in operating The G&M Doll Shop, which has employed the following persons since the beginning of the year: $3,000 per month V. Hoffman (general office worker) A. Drugan (saleswoman) $15,000 per year G. Beiter (stock clerk) per week S. Egan (deliveryman) $177 $300 $155 per week per week B. Lin (cleaning and maintenance, part-time) Grady and Monroe are each paid a weekly salary allowance of $1,350. The doll shop is located in...
Use the following tax rates and taxable wage bases; employee's
and employer's OASDI 6.2% both on $132,900 HI 1.45% for employees
and employers on the total wages paid. Employees Supplemental HI
0.9 percent on wages in excess of $200,000 was not applicable.
Instruction 3-1 Use the following tax rates and taxable wage bases: Employees' and Employer's OASDI—6.2% both on $132,900; HI—1.45% for employees and employers on the total wages paid. Employees' Supplemental HI of 0.9 percent on wages in excess...
The names of the employees of Hogan Thrift Shop are listed on
the following payroll register. Employees are paid weekly. The
marital status and the number of allowances claimed are shown on
the payroll register, along with each employee's weekly salary,
which has remained the same all year. Complete the payroll register
for the payroll period ending December 21, the 51st weekly payday.
The state income tax rate is 2% of total earnings, the city income
tax rate is 1.5%...
Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, use the following rates, celling, and maximum taxes. Employee and Employer OASDI: 6.20% $128,400 $7,960.80 Employee* and Employer HI: 1.45% No limit No maximum Self-employed OASDI: 12.4% $128,400 $15,921.60 Self-employed HI: 2.9% No limit No maximum 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places...
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