The biweekly taxable wages for the employees of Rite-Shop follow. Compute the FICA taxes for each employee and the employer's FICAtaxes. Round your answers to the nearest cent.FICA TaxesEmployeeOASDIHIEmployee NameBiweekly Taxable WagesNo.711Castro, Manny$4,000.00$4512Corrales, Pat984.00624Guitar, Joseph1,018.00325Moore, Connie1,203.40422Morrison, Harry2,300.00Robertson,2101,274.80Catherine111Swarez, Joseph1,322.00TotalsEmployer's OASDITotal Taxable WagesEmployer's OASDI TaxEmployer's HI TaxTotal Taxable WagesEmployer's HI Tax

Federal Insurance Contributions Act (FICA) tax are part of federal tax in which two separate taxes…

Answered: The biweekly taxable wages for the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Determine the income tax to withhold from the biweekly wages of the following employees (wage-bracket): Karen Overton (single), $900 wages $fill in the blank 1 Nancy Haller (married filing jointly), $1,000 wages $fill in the blank 2 Alan Glasgow (married filing jointly), $980 wages $fill in the blank 3 Joseph Kerr (single), $720 wages $fill in the blank 4 Ginni Lorenz (single), $580 wages $fill in the blank 5
Vala
Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "0". If required, round your calculations and final answers to the nearest cent. EmployeeNo. Employee Name Marital Status No. of WithholdingAllowances Gross Wageor Salary Amountto BeWithheld 1 Amoroso, A. M 4 $1,610 weekly $fill in the blank 1 2 Finley, R. S 0 825 biweekly fill in the blank 2 3 Gluck, E. S 5 9,630 quarterly fill in the blank 3 4 Quinn, S. M 8 925 semimonthly fill in the blank 4 5 Treave, Y. M 3 2,875 monthly
Urmilaben
Supermarket Caridad offers its employees vacation benefits and contributes a 2% contribution to a 401K. The employees had total wages of $ 125,000 and vacation benefits of $ 28,460. Calculate how much the employer contributes for the 401k.Make the wage entries related to vacation pay.Make the wage entries related to the 401K contribution.
Can you please help by explaining this problem? You do not have to give the answer to this one. I just need an example explaining how to work a problem like this one. Employee and employer OASDI: 6.2% Employer and Employee HI: 1.45% Employee HI: plus an additional 0.9% on wages over @200,000. Also allpicable for self-employed. minimum hourly wage of $7.25 Crow earned $585.15 during the week ended Mar. 1, 20--. Prior to payday, Crow had cumulative gross earnings of $4,733.20. round your answers to the nearest cent. a. The amount of OASDI taxed to withhold from Crow's pay is $ b. THe amount of HI taxes to withhold from Crow's pay is $
Ur
Give me correct answer with explan
For each circumstances, calculate the SUTA tax owed by the employer. Assume a SUTA tax rate of 3.4% and a taxable earnings threshold of $8,500. A-1 Framing employs three workers who, as of the beginning of the current pay period, have earned $8,550, $8,200, and $7,400. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $1,100, $1,420, and $2,140, respectively. SUTA tax = $ What is the SUTA tax?
River Signorini works for New & Old Apparel, which pays employees on a semimonthly basis. River's annual salary is $179,500. Required: Calculate the following: Note: Round your final answers to 2 decimal places. Pay Date October 15 December 31 Prior YTD Earnings Social Security Taxable Wages Medicare Taxable Wages Employer Share Social Security Tax Employer Share Medicare Tax
Use the percentage method to compute the federal income tax to be withheld from each employee. Name Marital Status Gross Wages Anderson, J. Banks, M. Married Jointly Married Jointly $1,500 Weekly $750 Bi-Weekly Carter, D. Single Davis, L. Married Separate Harris, K. Single Justice, M. Single $3,500 Monthly $800 Semi-Monthly $1,000 Weekly $500 Weekly
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