Employee earnings records for Slaymaker Company reveal the following gross earnings for four employees through the pay

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Employee earnings records for Slaymaker Company reveal the following gross earnings for four employees through the pay period of December 15.

J. Seligman .......$ 93,500

R. Eby ...............$106,600

L. Marshall ......$108,100

T. Olson ...........$112,500

For the pay period ending December 31, each employee’s gross earnings is $4,500. The FICA tax rate is 7.65% on gross earnings of $110,100.

Instructions

Compute the FICA withholdings that should be made for each employee for the December 31 pay period. (Show computations.)

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Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Jan 30, 2014 02:01 AM

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Employee earnings records for Slaymaker Company reveal the following gross earnings for four employees through the pay

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J Seligman 4500 X 765 34425 Seligmans total gross earnings for the year are 98000 93500 4500 ...View the full answer

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