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In 20-- the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semi-monthly on the 15th and the last day of the month. Compute the FICA taxes to be withheld from each officer's pay on (a) November 15 and (b) December 31. Round your answers to the nearest cent. If an amount is zero, enter "0".

In 20-- the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semi-monthly on the 15th and the last day of the month. Compute the FICA taxes to be withheld from each officer's pay on (a) November 15 and (b) December 31. Round your answers to the nearest cent. If an amount is zero, enter "0".

FINANCIAL ACCOUNTING
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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In 20-- the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semi-monthly on the 15th and the last day of the month. Compute the FICA taxes to be withheld from each officer's pay on (a) November 15 and (b) December 31. Round your answers to the nearest cent. If an amount is zero, enter "0". November 15 Name and Title Hanks, Timothy, President Grath, John, VP Finance James, Sally, VP Sales Kimmel, Joan, VP Mfg. Wie, Pam, VP Personnel Grant, Mary, VP Secretary Annual Salary OASDI Taxable Earnings $151,200 $ 132,000 69,600 54,000 51,600 49,200 OASDI Tax $ HI taxable Earnings $ HI Tax $
Transcribed Image Text:In 20-- the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semi-monthly on the 15th and the last day of the month. Compute the FICA taxes to be withheld from each officer's pay on (a) November 15 and (b) December 31. Round your answers to the nearest cent. If an amount is zero, enter "0". November 15 Name and Title Hanks, Timothy, President Grath, John, VP Finance James, Sally, VP Sales Kimmel, Joan, VP Mfg. Wie, Pam, VP Personnel Grant, Mary, VP Secretary Annual Salary OASDI Taxable Earnings $151,200 $ 132,000 69,600 54,000 51,600 49,200 OASDI Tax $ HI taxable Earnings $ HI Tax $
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