Required information Problem 6-4A & 6-5A (Algo) [The following information applies to the questions displayed below.] Greer Utsey earned $48,300 in 2023 for a company in Kentucky. Greer is single with one dependent under 17 and is paid weekly. The FUTA rate in Kentucky for 2023 is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is 5.4 percent with a wage base of $11,100. Use the percentage method in Appendix C and the state information in Appendix D. Manual payroll system is used and Box 2 is not checked. Problem 6-4A (Algo) Required: Compute the following employee share of the taxes for the third weekly payroll of the year. Note: Do not round intermediate calculation. Round your final answers to 2 decimal places. Federal income tax withholding Social Security tax Medicare tax State income tax withholding
Required information Problem 6-4A & 6-5A (Algo) [The following information applies to the questions displayed below.] Greer Utsey earned $48,300 in 2023 for a company in Kentucky. Greer is single with one dependent under 17 and is paid weekly. The FUTA rate in Kentucky for 2023 is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is 5.4 percent with a wage base of $11,100. Use the percentage method in Appendix C and the state information in Appendix D. Manual payroll system is used and Box 2 is not checked. Problem 6-4A (Algo) Required: Compute the following employee share of the taxes for the third weekly payroll of the year. Note: Do not round intermediate calculation. Round your final answers to 2 decimal places. Federal income tax withholding Social Security tax Medicare tax State income tax withholding
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Munabhai
![Required information
Problem 6-4A & 6-5A (Algo)
[The following information applies to the questions displayed below.]
Greer Utsey earned $48,300 in 2023 for a company in Kentucky. Greer is single with one dependent under 17 and is paid
weekly. The FUTA rate in Kentucky for 2023 is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is
5.4 percent with a wage base of $11,100. Use the percentage method in Appendix C and the state information in
Appendix D. Manual payroll system is used and Box 2 is not checked.
Problem 6-4A (Algo)
Required:
Compute the following employee share of the taxes for the third weekly payroll of the year.
Note: Do not round intermediate calculation. Round your final answers to 2 decimal places.
Federal income tax withholding
Social Security tax
Medicare tax
State income tax withholding](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdd65a8be-db93-455a-860a-f4c9cdf2d41c%2F4e72a88a-0d30-408d-a801-072822a2fb0e%2Fh36itu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
Problem 6-4A & 6-5A (Algo)
[The following information applies to the questions displayed below.]
Greer Utsey earned $48,300 in 2023 for a company in Kentucky. Greer is single with one dependent under 17 and is paid
weekly. The FUTA rate in Kentucky for 2023 is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is
5.4 percent with a wage base of $11,100. Use the percentage method in Appendix C and the state information in
Appendix D. Manual payroll system is used and Box 2 is not checked.
Problem 6-4A (Algo)
Required:
Compute the following employee share of the taxes for the third weekly payroll of the year.
Note: Do not round intermediate calculation. Round your final answers to 2 decimal places.
Federal income tax withholding
Social Security tax
Medicare tax
State income tax withholding
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