Ytd= semimonthly *20SS= semimonthly* .062Medicare= Semimonthly* .0145Add additional 0.9% tax employees over 200000Help me with the one that have an red x beside it ### Employee FICA Tax Calculation for November 15 PayrollThe employees of Agonnacultis Inc. are paid on a semimonthly basis. This exercise involves computing the FICA taxes for employees for the November 15 payroll. Each employee has been employed for the entire calendar year. The task requires rounding "Social Security Tax" and "Medicare Tax" to two decimal places.#### Employee Data Table| **Employee** | **Marital Status** | **Semi-monthly Salary** | **YTD Pay for Oct 31 Pay Date** | **Social Security Tax for Nov. 15 Pay Date** | **Medicare Tax for Nov. 15 Pay Date** ||--------------|---------------------|--------------------------|---------------------------------|---------------------------------------------|---------------------------------------|| T. Newberry | S | $7,000 | $140,000 | $0.00 | $101.50 || S. Smith | S | $4,500 | $90,000 | $279.00 | $65.25 || D. Plott | S | $4,725 | $94,500 | $292.95 | $68.51 || I. Ost | S | $6,850 | $137,000 | $0.00 | $99.33 || D. Bogard | S | $10,750 | $215,000 | $0.00 | $301.00 || M. Mallamace | S | $5,100 | $102,000 | $316.20 | $73.95 |#### Explanation of Table- **Employee:** The name of the employee.- **Marital Status:** The marital status, indicated as "S" for single.- **Semi-monthly Salary:** The salary paid to the employee on a semimonthly basis.- **YTD Pay for Oct 31 Pay Date:** The year-to-date pay for the employee as of October 31.- **Social Security Tax for Nov. 15 Pay Date:** The amount deducted for Social Security tax for the payroll date of November 15.- **Medicare Tax for Nov. 15 Pay Date:** The amount deducted for Medicare tax for the payroll date of November 15.Note:-

If the total wages (YTD) paid are in excess of $200,000 then an additional medicare tax rate of 0.9%…

The employees of Agonnacultis Inc. are paid on a semimonthly basis. Required: Compute the FICA taxes for the employees for the November 15 payroll. All employees have been employed for the entire calendar year. (Round "Social Security Tax" and "Medicare Tax" to 2 decimal places.) X Answer is complete but not entirely correct. Social Security Tax for Nov. 15. Pay Date 0.00 O S Semi- monthly Salary Medicare Таx for. Nov. 15 Pay Date Marital Status YTD Pay for Oct 31 Pay Date Employee T. Newberry S. Smith 24 7,000 140,000 OS 101.50 4,500 90,000 O S 279.00 O S 65.25 D. Plott S 4,725 94,500 S 292.95 O S 68.51 O I. Ost D. Bogard M. Mallamace S 6,850 137.000 S 0.00 S 0.00 Os 99.33 O 301.00 X S 10,750 S 215.000 S S. S 5,100 S 102.000 S 316.20 S 73.95 O SSS

The employees of Agonnacultis Inc. are paid on a semimonthly basis. Required: Compute the FICA taxes for the employees for the November 15 payroll. All employees have been employed for the entire calendar year. (Round "Social Security Tax" and "Medicare Tax" to 2 decimal places.) X Answer is complete but not entirely correct. Social Security Tax for Nov. 15. Pay Date 0.00 O S Semi- monthly Salary Medicare Таx for. Nov. 15 Pay Date Marital Status YTD Pay for Oct 31 Pay Date Employee T. Newberry S. Smith 24 7,000 140,000 OS 101.50 4,500 90,000 O S 279.00 O S 65.25 D. Plott S 4,725 94,500 S 292.95 O S 68.51 O I. Ost D. Bogard M. Mallamace S 6,850 137.000 S 0.00 S 0.00 Os 99.33 O 301.00 X S 10,750 S 215.000 S S. S 5,100 S 102.000 S 316.20 S 73.95 O SSS

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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