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 Name and Title Annual Salary OASDI Taxable Earnings OASDI Tax HI Taxable Earnings HI Tax Perez, Paul, President $160,800   $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 Donald, Donna, VP Finance 141,600   fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Funke, Jack, VP Sales 76,800   fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12 Weis, Al, VP Mfg. 92,400   fill in the blank 13 fill in the blank 14 fill in the blank 15 fill in the blank 16 Lang, Hope, VP Personnel 78,000   fill in the blank 17 fill in the blank 18 fill in the blank 19 fill in the blank 20 Lee, Amy, VP Secretary 52,800   fill in the blank 21 fill in the blank 22 fill in the blank 23 fill in the blank 24 b.     December 31 Name and Title Annual Salary OASDI Taxable Earnings OASDI Tax HI Taxable Earnings HI Tax Perez, Paul, President $160,800   $fill in the blank 25 $fill in the blank 26 $fill in the blank 27 $fill in the blank 28 Donald, Donna, VP Finance 141,600   fill in the blank 29 fill in the blank 30 fill in the blank 31 fill in the blank 32 Funke, Jack, VP Sales 76,800   fill in the blank 33 fill in the blank 34 fill in the blank 35 fill in the blank 36 Weis, Al, VP Mfg. 92,400   fill in the blank 37 fill in the blank 38 fill in the blank 39 fill in the blank 40 Lang, Hope, VP Personnel 78,000   fill in the blank 41 fill in the blank 42 fill in the blank 43 fill in the blank 44 Lee, Amy, VP Secretary 52,800   fill in the blank 45 fill in the blank 46 fill in the blank 47 fill in the blank 48

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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
Name and Title Annual Salary OASDI Taxable
Earnings
OASDI Tax HI Taxable
Earnings
HI Tax
Perez, Paul, President $160,800   $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4
Donald, Donna, VP Finance 141,600   fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8
Funke, Jack, VP Sales 76,800   fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12
Weis, Al, VP Mfg. 92,400   fill in the blank 13 fill in the blank 14 fill in the blank 15 fill in the blank 16
Lang, Hope, VP Personnel 78,000   fill in the blank 17 fill in the blank 18 fill in the blank 19 fill in the blank 20
Lee, Amy, VP Secretary 52,800   fill in the blank 21 fill in the blank 22 fill in the blank 23 fill in the blank 24


b.

    December 31
Name and Title Annual Salary OASDI Taxable
Earnings
OASDI Tax HI Taxable
Earnings
HI Tax
Perez, Paul, President $160,800   $fill in the blank 25 $fill in the blank 26 $fill in the blank 27 $fill in the blank 28
Donald, Donna, VP Finance 141,600   fill in the blank 29 fill in the blank 30 fill in the blank 31 fill in the blank 32
Funke, Jack, VP Sales 76,800   fill in the blank 33 fill in the blank 34 fill in the blank 35 fill in the blank 36
Weis, Al, VP Mfg. 92,400   fill in the blank 37 fill in the blank 38 fill in the blank 39 fill in the blank 40
Lang, Hope, VP Personnel 78,000   fill in the blank 41 fill in the blank 42 fill in the blank 43 fill in the blank 44
Lee, Amy, VP Secretary 52,800   fill in the blank 45 fill in the blank 46 fill in the blank 47 fill in the blank 48
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