I need this question general Accounting Portia Grant is an employee who is paid monthly. For the month of January ofthe current year, she earned a total of $8,738. The FICA tax for social security is6.2%, and the FICA tax rate for Medicare is 1.45%. The FUTA tax rate of 0.8% andthe SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay.The amount of federal income tax withheld from her earnings was $1,449.87. Hernet pay for the month isO $7161.43O $6185.67O $6,566.00O $6.61967O $5116.13

Step 1: Define Net PayThe net pay is the term for the employee's earnings to be received as cash…

Answered: Portia Grant is an employee who is paid…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 1PB

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For tax purposes, assume that the maximum taxable earnings are 118,500 for Social Security and 7,000 for the unemployment tax and that all earnings are taxable for Medicare. For the payroll register for the month of November for Shelby, Inc., determine the taxable earnings for each employee.
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Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $8,260. The FICA tax for social security is 6.2% of the first $132,900 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,325.17. What is the total amount of taxes withheld from the Portia's earnings?
Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $9,088. The FICA tax for social security is 6.2% of the first $128,400 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,507.97. What is the total amount of taxes withheld from the Portia's earnings? (Round your intermediate calculations to two decimal places.)
Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 9,038. The FICA tax for social security is 6.2% of the first $132,900 of employee earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,499.67. Her net pay for the month is: (Round your intermediate calculations to two decimal places.)
Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 8,738. The FICA tax for social security is 6.2% of the first $128,400 of employee earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,449.87. Her net pay for the month is:
Portia Grant is an employee who is paid monthly. for the month of Jan of the current year, she earned a total of 8,538. the FICA tax for social security is 6.2% of the first 128,400 of employee earnings each calendar year and the FICA tax for medicare is 1.45% of all earnings. the FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first 7,000 of an employee's pay. the amount of federal income tax withheld from her earnings was 1,416.67. her net pay for the month is?
.
Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $9,138. The Federal Insurance Contributions Act (FICA) tax for social security is 6.2% of the first $137,700 of employee earnings each calendar year and the Federal Insurance Contributions Act (FICA) tax rate for Medicare is 1.45% of all earnings. The Federal Unemployment Taxes (FUTA) tax rate of 0.6% and the State Unemployment Taxes (SUTA) tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,516.27. Her net pay for the month is: (Round your intermediate calculations to two decimal places.) Multiple Choice $6,488.67 О $7,055.17 О $7,813.84 О $6,866.67 $6,922.67 B

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