Calculate FICA Taxes.Please answer question correctly. All calculations should be rounded to two decimal places at each calculation. 2: Jacob Finney's filing status is single, and he has earned gross pay of $1,240. Each period he makes a 403(b) contribution of 8% of gross pay and makes a contribution of0.80% of gross pay to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $142,000.Social Security tax = $Medicare tax = $0.00

For calculating the social security tax and Medicare tax please fallow the steps below A .Social…

Answered: Calculate FICA Taxes. Please answer…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Calculate Brisky's Net Income.
Please check my work For journal entries 1 through 12, indicate the explanation that most closely describes it. You can use explanations more than once. To record receipt of unearned revenue. To record this period's earning of prior unearned revenue. To record payment of an accrued expense. To record receipt of an accrued revenue. To record an accrued expense. To record an accrued revenue. To record this period's use of a prepaid expense. To record payment of a prepaid expense. To record this period's depreciation expense.
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Entries for Stock Investments, Dividends, and Sale of Stock Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year: Feb. 24 Acquired 400 shares of Tett Co.'s stock for $105 per share plus a $148 brokerage commission. May 16 Acquired 1,600 shares of Issacson Co.'s stock for $26 per share plus a $80 commission. July 14 Sold 200 shares of Tett Co. stock for $117 per share less a $76 brokerage commission. Aug. 12 Sold 600 shares of Issacson Co. stock for $21 per share less a $65 brokerage commission. Oct. 31 Received dividends of $0.24 per share on Tett Co, stock. Dec. 31 At the end of the accounting period, the fair value of the remaining 200 shares of Tett Co.'s stock was $105.57 per share. The fair value of the remaining 1,000 shares of Isaacson Co.'s stock was equal to its cost of $26.05 per share. Journalize the entries for these transactions. In your computations, round per share…
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Calculate FICA Taxes. Please answer question correctly. All calculations should be rounded to two decimal places at each calculation