rst $7,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
FICA—OASDI 6.2% on first $137,700
FICA—HI 1.45% on total earnings
SUTA 0.5% on first $8,000
Tax on Employer:
FICA—OASDI 6.2% on first $137,700
FICA—HI 1.45% on total earnings
FUTA 0.6% on first $7,000
SUTA 2.8% on first $8,000

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from Employees'
Earning Under
3
4.
FICA
FICA
FUTA
SUTA
Earnings to
Date
Gross
Earnings
1,890.00
%24
OASDİ
OSADI
5 Employee:
6 Watson, Ruth T.
7 Kinder, Ralph A.
8 Sanchez, Robert T.
9 Carey, Mary C.
10 Cox, Mason, M.
11 Kenni, Jack T.
12 Britmayer, Tim A.
13 Candi Mark B.
14 Boxer, Barbara C.
15 MicBride, James W. $
16 Total Employee Taxes
HI
SUTA
HI
$ 139,000.00 $
$
410.00
14,950.00
$
4,060.00 $
$
395.00
8,190.00 $
$
295.00
6,460.00 $
$ 137,500.00 $
2$
425.00
1,850.00
8,905.00 $
$
490.00
6,825.00 $
57,000.00 $
3,615.00 $
325.00
1,150.00
195.00
17
18
19 Taxable Earnings
20 *Applicable tax rate
21 Totals
22 Total payroll taxes
6.2%
1.45%
0.6%
2.80%
23
24
25
26
27
28
29
Problem 1
Problem 2
Problem 2a Journalizing
Problem 3
Problem 4
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