For each of the total gross earnings amounts recorded in the past five pay weeks for Hot

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For each of the total gross earnings amounts recorded in the past five pay weeks for Hot Suds Car Wash, determine these taxes:

• employer’s FICA taxes (social security 6.2%, Medicare 1.45%)

• federal unemployment tax (.8%)

• state unemployment tax (5.4%)

Use the form provided in the working papers. None of the employees has reached the taxable earnings limit.

Total gross earnings:

1. $914.80

2. $1,113.73

3. $2,201.38

4. $791.02

5. $1,245.75

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Glencoe Accounting First Year Course

ISBN: 9780078688294

1st Edition

Authors: Andrée Vary

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Question Posted: Jun 15, 2022 01:28 AM

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For each of the total gross earnings amounts recorded in the past five pay weeks for Hot

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1 Employers FICA taxes 91480 x 62 145 7054 2 Employers FICA taxes 1...View the full answer

Glencoe Accounting First Year Course

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