Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Figure 1.9 The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The filing status

image text in transcribed

image text in transcribed

Figure 1.9 The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The filing status is shown on the payroll register, along with each employee's weekly salary, which has remained the same all year. Complete the payroll register for the payroll period ending December 20, 20--, the 51st weekly payday. The state income tax rate is 2% of total earnings, the city income tax rate is 1.5% of the total gross earnings, and the wage-bracket method is used for federal income taxes. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. If an amount is zero, enter "0". As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used. Click here to access the Wage-Bracket Method Tables. Click here to access the percentage Method Tables. Hogan Thrift Shop Payroll Register FOR PERIOD ENDING December 20, 20-- Deductions (a) FICA (b) Filing No. of W/H Total Employee Name Status Allowances Earnings (c) (d) (e) OASDI HI FIT SIT CIT Net Pay John, Matthew MF) N/A $2,720.00 $ $ Smith, Jennifer S N/A 275.00 Bullen, Catherine MEU N/A 250.00 Matthews, Mary S N/A 320.25 Check My Work Activate Windows Dravi NY Payroll Register FOR PERIOD ENDING December 20, 20-- Deductions (a) FICA Filing No. of w/H Total Employee Name Status Allowances Earnings (b) (c) SIT (d) CIT (e) Net Pay OASDI HI FIT John, Matthew MEJ N/A $2,720.00 $ 6. $ Smith, Jennifer N/A 275.00 Bullen, Catherine MFJ N/A 250.00 Matthews, Mary S N/A 320.25 Hadt, Bonnie S N/A 450.00 Camp, Sean S N/A 560.50 Wilson, Helen S N/A 475.50 Gleason, Josie MFJ N/A 890.00 1 $5,941.25 Totals $ $ $ Compute the employer's FICA taxes for the pay period ending December 20, 20--. OASDI Taxes HI Taxes OASDI taxable earnings $ HI taxable earnings HI taxes $ OASDI taxes Aetate Windows Previous pats to acti Check My Work Figure 1.9 The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The filing status is shown on the payroll register, along with each employee's weekly salary, which has remained the same all year. Complete the payroll register for the payroll period ending December 20, 20--, the 51st weekly payday. The state income tax rate is 2% of total earnings, the city income tax rate is 1.5% of the total gross earnings, and the wage-bracket method is used for federal income taxes. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. If an amount is zero, enter "0". As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used. Click here to access the Wage-Bracket Method Tables. Click here to access the percentage Method Tables. Hogan Thrift Shop Payroll Register FOR PERIOD ENDING December 20, 20-- Deductions (a) FICA (b) Filing No. of W/H Total Employee Name Status Allowances Earnings (c) (d) (e) OASDI HI FIT SIT CIT Net Pay John, Matthew MF) N/A $2,720.00 $ $ Smith, Jennifer S N/A 275.00 Bullen, Catherine MEU N/A 250.00 Matthews, Mary S N/A 320.25 Check My Work Activate Windows Dravi NY Payroll Register FOR PERIOD ENDING December 20, 20-- Deductions (a) FICA Filing No. of w/H Total Employee Name Status Allowances Earnings (b) (c) SIT (d) CIT (e) Net Pay OASDI HI FIT John, Matthew MEJ N/A $2,720.00 $ 6. $ Smith, Jennifer N/A 275.00 Bullen, Catherine MFJ N/A 250.00 Matthews, Mary S N/A 320.25 Hadt, Bonnie S N/A 450.00 Camp, Sean S N/A 560.50 Wilson, Helen S N/A 475.50 Gleason, Josie MFJ N/A 890.00 1 $5,941.25 Totals $ $ $ Compute the employer's FICA taxes for the pay period ending December 20, 20--. OASDI Taxes HI Taxes OASDI taxable earnings $ HI taxable earnings HI taxes $ OASDI taxes Aetate Windows Previous pats to acti Check My Work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Study Guide Working Papers For College Accounting, Chapters 1-9

Authors: James A. Heintz, Robert W. Parry

23rd Edition

0357474740, 9780357474747

More Books

Students also viewed these Accounting questions

Question

e. What are the programs research and clinical focus areas?

Answered: 1 week ago

Question

What is the cerebrum?

Answered: 1 week ago

Question

2 What can organisations do to improve employee utilisation?

Answered: 1 week ago

Question

4 When is it a good idea to use the external supply of labour?

Answered: 1 week ago

Question

3. What would you do now if you were Mel Fisher?

Answered: 1 week ago