In 20-- the annual salaries paid each of the officers of Perez, Inc., follow. The officers are
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In 20-- the annual salaries paid each of the officers of Perez, Inc., follow. The officers are paid semimonthly on the 15th and the last day of the month. Compute the FICA taxes to be withheld from each officer’s pay on November 15 and December 31.
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November 15 HI Taxable Earnings OASDI Тахable Earnings Annual OASDI Тах HI Name and Title Perez, Paul, President Donald, Donna, VP Finance Funke, Jack, VP Sales Weis, Al, VP Mfg. Salary $150,000 Тах 76,800 92,400 78,000 52,800 Lang, Hope, VP Personnel Lee, Amy, VP Secretary December 31 OASDI Taxable Earnings HI Taxable Annual OASDI Tax HI Тах Name and Title Perez, Paul, President Donald, Donna, VP Finance Funke, Jack, VP Sales Weis, Al, VP Mfg. Lang, Hope, VP Personnel Lee, Amy, VP Secretary Salary Earnings $150,000 129,000 76,800 92,400 78,000 52,800
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