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Already posted this question and they didnt finish it and I just do not understand it can someone help? Paloma Co. has four employees. FICA
Already posted this question and they didnt finish it and I just do not understand it can someone help?
Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $118,500 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee. the company's FUTA taxes are 0.6% and SUTA taxes are 6.20%. The company is preparing its payroll calculations for the week ended August 25 Payroll records show the following information for the company's four Current Week Gross Pay Income Tax Withholding Name Dali Trey Kiesha Chee Gross Pay S 3,250 1,600 700 660 through Aug. 18 $117,250 116,900 9,600 3,550 S 462 258 61 49 In addition to gross pay the company must pay one-half o the $110 per employee weekly health nsurance, each employee pays he remaining one-half. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fundStep by Step Solution
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