Chapter 11, Problem 3BPSB

To determine

Payroll Accounting: Payroll Accounting refers to accounting of Salary and wages paid to employees, along with taxes which are withheld from employees and also contributed by the employer. These Include FICA-Social Security Taxes, FICA Medicare Taxes. Other taxes like Employee Federal Taxes are only withheld from employees and taxes line SUTA(State Unemployment Taxes) and FUTA(Federal Unemployment Taxes) are only contributed by the employer.

Requirement 1:

To determine:

Employees FICA Withholdings for Social Security.

To determine

Requirement 2:

To determine:

Employees FICA Withholding for Medicare:

To determine

Requirement 3:

To Determine:

Employers FICA Taxes for Social Security

To determine

Requirement4:

To determine:

Employers FICA Taxes for Medicare

To determine

Requirement 5:

To Determine:

Employers FUTA Taxes

To determine

Requirement 6:

To determine:

Employers SUTA Taxes

To determine

Requirement 7:

To determine:

Each Employees net(Take home) Pay:

To determine

Requirement 8:

To determine:

Employers total Payroll related taxes for each person.