Andrea is an employee of Fern Corporation and single. She also has her own business working as a life coach. For 2021, Andrea's wages from Fern were $240,000. Her self-employment income was $61,400. If required, round any computations to two decimal places. Round final answers to the nearest dollar. a. Compute the total payroll, self-employment, and additional Medicare taxes for Andrea for 2021. 61,400 x Feedback

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Andrea is an employee of Fern Corporation and single. She also has her own business working as a life coach. For 2021, Andrea's wages
from Fern were $240,000. Her self-employment income was $61,400.
If required, round any computations to two decimal places. Round final answers to the nearest dollar.
a. Compute the total payroll, self-employment, and additional Medicare taxes for Andrea for 2021.
61,400 X
Feedback
b. Assume the same facts except that Andrea's 2021 self-employment activities resulted in a loss of $55,400. Compute the total payroll,
self-employment, and additional Medicare taxes for Andrea for 2021.
0 X
Feedback
c. Compute Andrea's NIIT for 2021 using wages of $240,000, self-employment income of $61,400 and NII of $34,800. There are no
expenses allocable to any investment income.
Feadback
Transcribed Image Text:Andrea is an employee of Fern Corporation and single. She also has her own business working as a life coach. For 2021, Andrea's wages from Fern were $240,000. Her self-employment income was $61,400. If required, round any computations to two decimal places. Round final answers to the nearest dollar. a. Compute the total payroll, self-employment, and additional Medicare taxes for Andrea for 2021. 61,400 X Feedback b. Assume the same facts except that Andrea's 2021 self-employment activities resulted in a loss of $55,400. Compute the total payroll, self-employment, and additional Medicare taxes for Andrea for 2021. 0 X Feedback c. Compute Andrea's NIIT for 2021 using wages of $240,000, self-employment income of $61,400 and NII of $34,800. There are no expenses allocable to any investment income. Feadback
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