[The following information applies to the questions displayed below.] Gerald Utsey earned $49,100 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.
[The following information applies to the questions displayed below.] Gerald Utsey earned $49,100 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
So this is a two part question and while I understand percentage method to a point, I'm confused on how to apply the second part.
![!
Required information
[The following information applies to the questions displayed below.]
Gerald Utsey earned $49,100 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.
Required:
Compute the employer's share of the taxes. (Do not round intermediate calculation. Round your final answer to 2 decimal places.)
Federal income tax withholding
Social Security tax
Medicare tax
FUTA tax
SUTA tax
State income tax withholding](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7923eb67-f7c9-4220-8da5-0f841bfa4708%2F5d402122-4008-4c7c-80df-fe7a5fe835cd%2Fssifuz_processed.png&w=3840&q=75)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
Gerald Utsey earned $49,100 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.
Required:
Compute the employer's share of the taxes. (Do not round intermediate calculation. Round your final answer to 2 decimal places.)
Federal income tax withholding
Social Security tax
Medicare tax
FUTA tax
SUTA tax
State income tax withholding
Transcribed Image Text:El Arroyo North has 42 employees within Denver City and County. All the employees worked a predominant number of hours within
the city. The employees earned $8.20 per hour and worked 160 hours each during the month. The employer must remit $4.00 per
month per employee who earns more than $500 per month. Additionally, employees who earn more than $500 per month must have
$5.75 withheld from their pay.
Required:
What are the employee and company Occupational Privilege Tax for the employees of El Arroyo North? (Round your answers to 2
decimal places.)
Employee
Employer
Occupational
Privilege Tax
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
Thank you so much! I provided the wrong question for the first. I listed two part in my question but I captured the wrong one. So, the answers aren't right for the taxes. I'm sorry about that. This is actually how it should be:
![!
Required information
[The following information applies to the questions displayed below.]
Gerald Utsey earned $49,100 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.
Required:
Compute the employer's share of the taxes. (Do not round intermediate calculation. Round your final answer to 2 decimal places.)
Federal income tax withholding
Social Security tax
Medicare tax
FUTA tax
SUTA tax
State income tax withholding](https://content.bartleby.com/qna-images/question/7923eb67-f7c9-4220-8da5-0f841bfa4708/569c9adf-f7de-4de4-9737-04b06e95b71c/rhfkno_processed.png)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
Gerald Utsey earned $49,100 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.
Required:
Compute the employer's share of the taxes. (Do not round intermediate calculation. Round your final answer to 2 decimal places.)
Federal income tax withholding
Social Security tax
Medicare tax
FUTA tax
SUTA tax
State income tax withholding
![Required information
[The following information applies to the questions displayed below.]
Gerald Utsey earned $49,100 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.
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](https://content.bartleby.com/qna-images/question/7923eb67-f7c9-4220-8da5-0f841bfa4708/569c9adf-f7de-4de4-9737-04b06e95b71c/pg2zwn_processed.png)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Gerald Utsey earned $49,100 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.
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
Solution
by Bartleby ExpertKnowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education