Compute the FIC
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Vishu
Transcribed Image Text:The employees of Ethereal Bank are paid on a semimonthly basis. All employees are single
Required:
Compute the FICA taxes for the employees for the November 30 payroll. All employees have been employed for the entire calendar
year. (Round "Social Security Tax" and "Medicare Tax" to 2 decimal places.)
Employee
R. Bellagio
B Khumalo
S. Schriver
K. Saetang
T. Ahmad
M. Petrova
Semimonthly
Pay
$
S
$
$
$
$
YTD Pay for
November 15
Pay Date
9,500 $ 190,000
6,700
6,800
7,250
9,750
8,100
Social
Security Tax
for November
30 Pay Date
< Prev
Medicare lax
for November
30 Pay Date:
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