Required information Problem 6-4A & 6-5A (Algo) [The following information applies to the questions displayed below.] Gerald Utsey earned $47,600 in 2021 for a company in Kentucky. He is single with one dependent under 17 and is paid weekly. The FUTA rate in Kentucky for 2021 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. (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.] Gerald Utsey earned $47,600 in 2021 for a company in Kentucky. He is single with one dependent under 17 and is paid weekly. The FUTA rate in Kentucky for 2021 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. (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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![Required information
Problem 6-4A & 6-5A (Algo)
[The following information applies to the questions displayed below.]
Gerald Utsey earned $47,600 in 2021 for a company in Kentucky. He is single with one dependent under 17 and is paid
weekly. The FUTA rate in Kentucky for 2021 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. (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%2F77d69e90-4df7-4fdd-a6b0-25aa77d898d6%2F910cfc2b-51eb-40e7-8c65-e7d59fb16b34%2Fa5p4j9n_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
Problem 6-4A & 6-5A (Algo)
[The following information applies to the questions displayed below.]
Gerald Utsey earned $47,600 in 2021 for a company in Kentucky. He is single with one dependent under 17 and is paid
weekly. The FUTA rate in Kentucky for 2021 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. (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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