Example 3-1 In 20--, the annual salaries paid each of the officers of Abrew, 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 (a) November 15 and (b) December 31. Round your answers to the nearest cent. If an amount is zero, enter "O". a. November 15 Name and Title Annual Salary OASDI Taxable Earnings HI Taxab Earning OASDI Tax Hanks, Timothy, President $168,000 Grath, John, VP Finance 144,000 James, Sally, VP Sales 69,600 Kimmel, Joan, VP Mfg. 54,000 Wie, Pam, VP Personnel 51,600 Grant, Mary, VP Secretary 49,200 b. . December 31 each of the officers of Abrew, Inc., follow. The officers are paid e last day of the month. Compute the FICA taxes to be withheld ovember 15 and (b) December 31. earest cent. If an amount is zero, enter "O". November 15 Annual OASDI Taxable Earnings Salary HI Taxable Earnings OASDI Tax HI Tax $168,000 144,000 69,600 54,000 51,600 49,200 HI TE Annual Salary OASDI Taxable Earnings Name and Title OASDI Tax Ear Hanks, Timothy, President $168,000 VT Grath, John, VP Finance 144,000 James, Sally, VP Sales 69,600 TIITTI Kimmel, Joan, VP Mfg. 54,000 Wie, Pam, VP Personnel 51,600 Grant, Mary, VP Secretary 49,200 December 31 Annual OASDI Taxable HI Taxable Earnings Salary Earninst OASDI Tax HI Tax $168,000 144,000 69,600 54,000 51,600 49,200 Example 3-1 In 20--, the annual salaries paid each of the officers of Abrew, 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 (a) November 15 and (b) December 31. Round your answers to the nearest cent. If an amount is zero, enter "O". a. November 15 Name and Title Annual Salary OASDI Taxable Earnings HI Taxab Earning OASDI Tax Hanks, Timothy, President $168,000 Grath, John, VP Finance 144,000 James, Sally, VP Sales 69,600 Kimmel, Joan, VP Mfg. 54,000 Wie, Pam, VP Personnel 51,600 Grant, Mary, VP Secretary 49,200 b. . December 31 each of the officers of Abrew, Inc., follow. The officers are paid e last day of the month. Compute the FICA taxes to be withheld ovember 15 and (b) December 31. earest cent. If an amount is zero, enter "O". November 15 Annual OASDI Taxable Earnings Salary HI Taxable Earnings OASDI Tax HI Tax $168,000 144,000 69,600 54,000 51,600 49,200 HI TE Annual Salary OASDI Taxable Earnings Name and Title OASDI Tax Ear Hanks, Timothy, President $168,000 VT Grath, John, VP Finance 144,000 James, Sally, VP Sales 69,600 TIITTI Kimmel, Joan, VP Mfg. 54,000 Wie, Pam, VP Personnel 51,600 Grant, Mary, VP Secretary 49,200 December 31 Annual OASDI Taxable HI Taxable Earnings Salary Earninst OASDI Tax HI Tax $168,000 144,000 69,600 54,000 51,600 49,200
