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In 20-- the annual salaries paid each of the officers of Perez, Inc., follow. The officers are paid semimonthly 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. If an amount is zero, enter "0". Enter all earnings and taxes to two decimal places. a. November 15 OASDI Taxable HI Тахаble Name and Title Annual Salary OASDI Tax HI Tax Earnings Earnings $153,600 s 6,250 x $ 387.50 xS 6,250 x Perez, Paul, President 90.63 X Donald, Donna, VP Finance 134,400 5,375 x 333.25 x 5,375 X 77.94 X Funke, Jack, VP Sales 76,800 3,200 v 198.40 V 3,200 v 46.40 Weis, Al, VP Mfg. 92,400 3,850 V 238.70 V 3,850 V 55.83 V Lang, Hope, VP Personnel 78,000 3,250 V 201.50 V 3,250 V 47.13 V Lee, Amy, VP Secretary 52,800 2,200 V 136.40 V 2,200 v 31.90 最 b. December 31 OASDI Taxable HI Тахаble Name and Title Annual Salary OASDI Tax HI Tax Earnings Earnings $153,600 $ 6,250 xs Perez, Paul, President 90.63 x Donald, Donna, VP Finance 134,400 5,375 x 333.25 X 5,375 X 77.94 X Funke, Jack, VP Sales 76,800 3,200 V 198.40 V 3,200 v 46.40 V Weis, Al, VP Mfg. 92,400 3,850 V 238.70 V 3,850 V 55.83 V Lang, Hope, VP Personnel 78,000 3,250 V 201.50 V 3,280 x 47.13 V Iee Amy YP Serretany 52.800 2.200Y 2.200 31.90 136.40

In 20-- the annual salaries paid each of the officers of Perez, Inc., follow. The officers are paid semimonthly 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. If an amount is zero, enter "0". Enter all earnings and taxes to two decimal places. a. November 15 OASDI Taxable HI Тахаble Name and Title Annual Salary OASDI Tax HI Tax Earnings Earnings $153,600 s 6,250 x $ 387.50 xS 6,250 x Perez, Paul, President 90.63 X Donald, Donna, VP Finance 134,400 5,375 x 333.25 x 5,375 X 77.94 X Funke, Jack, VP Sales 76,800 3,200 v 198.40 V 3,200 v 46.40 Weis, Al, VP Mfg. 92,400 3,850 V 238.70 V 3,850 V 55.83 V Lang, Hope, VP Personnel 78,000 3,250 V 201.50 V 3,250 V 47.13 V Lee, Amy, VP Secretary 52,800 2,200 V 136.40 V 2,200 v 31.90 最 b. December 31 OASDI Taxable HI Тахаble Name and Title Annual Salary OASDI Tax HI Tax Earnings Earnings $153,600 $ 6,250 xs Perez, Paul, President 90.63 x Donald, Donna, VP Finance 134,400 5,375 x 333.25 X 5,375 X 77.94 X Funke, Jack, VP Sales 76,800 3,200 V 198.40 V 3,200 v 46.40 V Weis, Al, VP Mfg. 92,400 3,850 V 238.70 V 3,850 V 55.83 V Lang, Hope, VP Personnel 78,000 3,250 V 201.50 V 3,280 x 47.13 V Iee Amy YP Serretany 52.800 2.200Y 2.200 31.90 136.40

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 Perez, Inc., follow. The officers are paid semimonthly 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. If an amount is zero, enter "0". Enter all earnings and taxes to two decimal places. a. November 15 OASDI Taxable HI Taxable Name and Title Annual Salary OASDI Tax HI Tax Earnings Earnings Perez, Paul, President $153,600 6,250 x $ 387.50 X $ 6,250| х $ 90.63 X Donald, Donna, VP Finance 134,400 5,375 x 333.25 Х 5,375 x 77.94 X Funke, Jack, VP Sales 76,800 3,200 v 198.40 V 3,200 v 46.40 V Weis, Al, VP Mfg. 92,400 3,850 V 238.70 V 3,850 V 55.83 V Lang, Hope, VP Personnel 78,000 3,250 V 201.50 V 3,250 V 47.13 v 2,200 v 136.40 V 2,200 V Lee, Amy, VP Secretary 52,800 31.90 b. December 31 OASDI Taxable HI Taxable Name and Title Annual Salary OASDI Tax HI Таx Earnings Earnings Perez, Paul, President $153,600 o v $ 6,250 x $ 90.63 X Donald, Donna, VP Finance 134,400 5,375 x 333.25 х 5,375 x 77,94 x Funke, Jack, VP Sales 76,800 3,200 V 198.40 V 3,200 V 46.40 Weis, Al, VP Mfg. 3,850 238.70 3,850 V 92,400 55.83 Lang, Hope, VP Personnel 78,000 3,250 V 201.50 V 3,280| х 47.13 Lee, Amy, VP Secretary 52,800 2,200 136,40 2,200 V 31.90
Transcribed Image Text:In 20-- the annual salaries paid each of the officers of Perez, Inc., follow. The officers are paid semimonthly 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. If an amount is zero, enter "0". Enter all earnings and taxes to two decimal places. a. November 15 OASDI Taxable HI Taxable Name and Title Annual Salary OASDI Tax HI Tax Earnings Earnings Perez, Paul, President $153,600 6,250 x $ 387.50 X $ 6,250| х $ 90.63 X Donald, Donna, VP Finance 134,400 5,375 x 333.25 Х 5,375 x 77.94 X Funke, Jack, VP Sales 76,800 3,200 v 198.40 V 3,200 v 46.40 V Weis, Al, VP Mfg. 92,400 3,850 V 238.70 V 3,850 V 55.83 V Lang, Hope, VP Personnel 78,000 3,250 V 201.50 V 3,250 V 47.13 v 2,200 v 136.40 V 2,200 V Lee, Amy, VP Secretary 52,800 31.90 b. December 31 OASDI Taxable HI Taxable Name and Title Annual Salary OASDI Tax HI Таx Earnings Earnings Perez, Paul, President $153,600 o v $ 6,250 x $ 90.63 X Donald, Donna, VP Finance 134,400 5,375 x 333.25 х 5,375 x 77,94 x Funke, Jack, VP Sales 76,800 3,200 V 198.40 V 3,200 V 46.40 Weis, Al, VP Mfg. 3,850 238.70 3,850 V 92,400 55.83 Lang, Hope, VP Personnel 78,000 3,250 V 201.50 V 3,280| х 47.13 Lee, Amy, VP Secretary 52,800 2,200 136,40 2,200 V 31.90
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