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In 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semimonthly on the 15th and the last d 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". a. November 15 Annual OASDI Taxable HI Taxable Name and Title Salary Earnings OASDI Tax Earnings HI Tax A150 040

In 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semimonthly on the 15th and the last d 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". a. November 15 Annual OASDI Taxable HI Taxable Name and Title Salary Earnings OASDI Tax Earnings HI Tax A150 040

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Example 3-1 In 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semimonthly on the 15th and the last day of th 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". a. November 15 Annual OASDI Taxable HI Taxable Name and Title Salary Earnings OASDI Tax Earnings HI Таx Hanks, Timothy, President $158,040 Grath, John, VP Finance 137,400 James, Sally, VP Sales 70,800 Kimmel, Joan, VP Mfg. 57,600 Wie, Pam, VP Personnel 46,800 Grant, Mary, VP Secretary 39,600 b. December 31 HI Taxable Annual OASDI Taxable OASDI Tax Earnings HI Tax Name and Title Salary Earnings Hanks, Timothy, President $158,040 %24 64
Transcribed Image Text:Example 3-1 In 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semimonthly on the 15th and the last day of th 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". a. November 15 Annual OASDI Taxable HI Taxable Name and Title Salary Earnings OASDI Tax Earnings HI Таx Hanks, Timothy, President $158,040 Grath, John, VP Finance 137,400 James, Sally, VP Sales 70,800 Kimmel, Joan, VP Mfg. 57,600 Wie, Pam, VP Personnel 46,800 Grant, Mary, VP Secretary 39,600 b. December 31 HI Taxable Annual OASDI Taxable OASDI Tax Earnings HI Tax Name and Title Salary Earnings Hanks, Timothy, President $158,040 %24 64
Name and Title Salary Earnings OASDI Tax Earnings HI Tax Hanks, Timothy, President $158,040 Grath, John, VP Finance 137,400 James, Sally, VP Sales 70,800 Kimmel, Joan, VP Mfg. 57,600 Wie, Pam, VP Personnel 46,800 Grant, Mary, VP Secretary 39,600 b. December 31 Annual OASDI Taxable HI Тахаble Name and Title Salary Earnings Earnings OASDI Tax HI Таx Hanks, Timothy, President $158,040 Grath, John, VP Finance 137,400 James, Sally, VP Sales 70,800 Kimmel, Joan, VP Mfg. 57,600 Wie, Pam, VP Personnel 46,800 Grant, Mary, VP Secretary 39,600 %24 %24
Transcribed Image Text:Name and Title Salary Earnings OASDI Tax Earnings HI Tax Hanks, Timothy, President $158,040 Grath, John, VP Finance 137,400 James, Sally, VP Sales 70,800 Kimmel, Joan, VP Mfg. 57,600 Wie, Pam, VP Personnel 46,800 Grant, Mary, VP Secretary 39,600 b. December 31 Annual OASDI Taxable HI Тахаble Name and Title Salary Earnings Earnings OASDI Tax HI Таx Hanks, Timothy, President $158,040 Grath, John, VP Finance 137,400 James, Sally, VP Sales 70,800 Kimmel, Joan, VP Mfg. 57,600 Wie, Pam, VP Personnel 46,800 Grant, Mary, VP Secretary 39,600 %24 %24
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