he following is a payroll sheet for Teal Imports for the month of September 2020. The company is allowed a 1% unemployment compensation rate by the state; the federal unemployment tax rate is 0.8% and the maximum for both is $7,000. Assume a 10% federal income tax rate for all employees and a 7.65% FICA tax on employee and employer on a maximum of $128,400. In addition, 1.45% is charged both employer and employee for an employee’s wages in excess of $128,400 per employee. Unemployment Tax Name Earnings Aug. 31 September Earnings B. D. Williams $6,800 $900 D. Raye 6,300 800 K. Baker 7,400 1,200 F. Lopez 14,700 1,800 A. Daniels 116,600 12,900 B. Kingston 121,300 16,400 (a) Complete the payroll sheet. (Round answers to 2 decimal places Income Tax Withholding FICA State Federal
he following is a payroll sheet for Teal Imports for the month of September 2020. The company is allowed a 1%
Unemployment Tax Name Earnings
Aug. 31 September Earnings
B. D. Williams $6,800 $900
D. Raye 6,300 800
K. Baker 7,400 1,200
F. Lopez 14,700 1,800
A. Daniels 116,600 12,900
B. Kingston 121,300 16,400
(a) Complete the payroll sheet. (Round answers to 2 decimal places
Income Tax Withholding FICA State Federal
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