Example 3-1 During 20--, Rachael Lopez, president of Mathieson Company, was paid a semimonthly salary of $9,825. Compute the amount of FICA taxes t Note: Rachael's tax return status is single. If an amount is zero, enter "0". a. 9th paycheck b. 17th paycheck c. 20th paycheck d. If Lopez's year-to-date earnings as of her 24th paycheck are $235,800, and her year-end bonus is $100,000, how much additional 0.9% HI tax would be withheld for the year? Feedback OASDI HI 609.15 142.46 609.15 X 0

Example 3-1 During 20--, Rachael Lopez, president of Mathieson Company, was paid a semimonthly salary of $9,825. Compute the amount of FICA taxes t Note: Rachael's tax return status is single. If an amount is zero, enter "0". a. 9th paycheck b. 17th paycheck c. 20th paycheck d. If Lopez's year-to-date earnings as of her 24th paycheck are $235,800, and her year-end bonus is $100,000, how much additional 0.9% HI tax would be withheld for the year? Feedback OASDI HI 609.15 142.46 609.15 X 0

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 7E

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Example 3-1 During 20--, Rachael Lopez, president of Mathieson Company, was paid a semimonthly salary of $9,825. Compute the amount of FICA taxes that should be withheld from her. Note: Rachael's tax return status is single. If an amount is zero, enter "0". OASDI a. 9th paycheck b. 17th paycheck c. 20th paycheck d. If Lopez's year-to-date earnings as of her 24th paycheck are $235,800, and her year-end bonus is $100,000, how much additional 0.9% HI tax would be withheld HI 609.15 ✔ 142.46 $
Example 3-1 During 20--, Rachael Lopez, president of Mathieson Company, was paid a semimonthly salary of $9,000. Compute the amount of FICA taxes that should be withheld from her. Note: Rachael's tax return status s single. If an amount is zero, enter "0". a. 9th paycheck b. 17th paycheck c. 22nd paycheck d. If Lopez's year-to-date earnings as of her 24th paycheck are $216,000, and her year-end bonus is $100,000, how much additional 0.9% HI tax would be deducted for the year? $ $ OASDI 558 186 ✓ 0 ✓ $ HI 1,044 ✔
Example 3-1 During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $8,500. Compute the amount of FICA taxes that should be withheld from her. Note: Rachael's tax return status is single. If an amount is zero, enter "0". OASDI HI a. 9th paycheck b. 17th paycheck c. 23rd paycheck d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $204,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax on all total earnings?
Example 3-1 During 20--, Rachael Lopez, president of Mathieson Company, was paid a semimonthly salary of $7,500. Compute the amount of FICA taxes that should be withheld from her. If an amount is zero, enter "0". a. 9th paycheck b. 20th paycheck c. 23th paycheck d. If Lopez's year-to-date earnings as of her 24th paycheck are $180,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax on all total earnings? OASDI 000 465 HI 300 0 108.75
PROBLEMS employee of Plum Hollow Country Chib, carned $1,200 during the first 27. Using the information below, determine the amount of the payroll tax expense for B. Harper Company. In your answer list the amounts for FICA (OASDI and Medicare), SUTA, FUTA and the total. Taxable Earnings Employee K. Addington $500 K. Wilcox 450 T. Sharma 350 Assume: FICA tax rates are: OASDI 6.2% on a limit of $102,000 and Medicare 1.45% State Unemployment tax rate is 5.0% on the first $7,000 Federal Unemployment tax rate is 0.8% on the first $7,000 ANSWER: FICA-Social Security FICA-Medicare SUTA FUTA Total
During 20--, Matti Conner, president of Maggert Company, was paid a semimonthly salary of $7,800. Compute the amount of FICA taxes that should be withheld from her. Note that Matti files single on her tax return. If an amount is zero, enter "0". OASDI HI a. 9th paycheck $fill in the blank 1 $fill in the blank 2 b. 18th paycheck $fill in the blank 3 $fill in the blank 4 c. 24th paycheck $fill in the blank 5 $fill in the blank 6 d. If Matti Conner's year-to-date earnings as of her 24th paycheck are $187,200 and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld?
6. Robert Martin's gross earnings for the week ending on December 27 amount to $2,200. His cumulative gross earnings for the year up through his last pay date amount to $89,300. Using the table below, calculate the FICA tax deduction for the current pay period. FICA Tax 2% 4% 6% 8% 10% Rate Salary $25,000– $50,001– $70,001– $85,001– $100,001– Amount $50,000 $70,000 $85,000 $100,000 $175,000 OS7,144 O$176
George's Gameroom had two employees with the following earnings information: Gross Cumulative Earnings for Week Ending Earnings as of 11/30/20X1 $ 5,100 $ 131,800 Employee 12/15/20X1 Barbara Brown $2,600 Hillary Adams $ 3,200 Use the table above and calculate how much of Hillary's December 15 paycheck is still subject to Social Security tax given that the tax is levied on the first $132,900 of annual wages and the Medicare tax rate is 1.45% on all earnings. Multiple Choice $2,800 $1,100 MAY 7 21 18 Corin Calie
During 20--, Amanda Hines, president of Dunne Company, was paid a semimonthly salary of $7,100. Compute the amount of FICA taxes that should be withheld from her. OASDI HI a. 9th paycheck b. 19th paycheck
During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $8,500. Compute the amount of FICA taxes that should be withheld from her. Note: Rachael's tax return status is single. If an amount is zero, enter "0". OASDI HI a. 9th paycheck $fill in the blank 1 $fill in the blank 2 b. 17th paycheck $fill in the blank 3 $fill in the blank 4 c. 23rd paycheck $fill in the blank 5 $fill in the blank 6 d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $204,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax on all total earnings? $fill in the blank 7
1. Darna, employed, derived the following income during the year: P 400,000 40,000 20,000 50,000 Gross Salaries 13 Month pay and other benefits SSS, PhilHealth and Pag-Ibig Contributions Deductions for loans repayments Deductions for withholding tax 60,000 Compute the compensation income to be reported in the annual income tax return.
Blake Green's weekly gross earnings for the week ending December 7 were $2,500, and her federal income tax withholding was $525. Assuming the social security tax rate is 6.0%, the Medicare tax rate is 1.5%, and Green’s earnings to date have not reached the maximum subject to FICA taxes, what is Green’s net pay? Round your answer to two decimal places.$fill in the blank 1