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5-7A (Algo) The employees of Ethereal Bank are paid on a semimonthly basis. All employees are single. Required: Compute the FICA taxes for the employees
5-7A (Algo) The employees of Ethereal Bank are paid on a semimonthly basis. All employees are single. Required: Compute the FICA taxes for the employees for the November 30 payroll. All employees have been employed for the entire calendar year. (Round "Social Security Tax" and "Medicare Tax" to 2 decimal places.) Answer is complete but not entirely correct. YTD Pay for Social Security Tax for Medicare Tax for November 15 Semimonthly November 30 November 30 Employee Pay Date Salary Pay Date Pay Date R. Bellagio $ 9,511 $ 199,731 $ 0.00 $ 137.91 B. Khumalo $ 6,711 $ 140,931 $ 0.00 $ 97.31 S. Schriver $ 7,350 $ 154,350 $ 0.00 $ 106.58 K. Saetang $ 7,800 $ 163,800 $ 0.00 $ 113.10 T. Ahmed $ 10,300 $ 216,300 $ 0.00 $ 242.05 M. Petrova $ 8,650 $ 181,650 $ 0.00 125.43
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