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For tax purposes, assume that the maximum taxable earnings are $118,500 for Social Security and $7,000 for the unemployment tax and that all earnings are
For tax purposes, assume that the maximum taxable earnings are $118,500 for Social Security and $7,000 for the unemployment tax and that all earnings are taxable for Medicare. For the payroll register for the month of November for Shelby, Inc., determine the taxable earnings for each employee. If an amount is zero, enter "0".
NAME | BEGINNING CUMULATIVE EARNINGS | TOTAL EARNINGS | ENDING CUMULATIVE EARNINGS | TAXABLE EARNINGS | ||
UNEMPLOYMENT | SOCIAL SECURITY | MEDICARE | ||||
Axton, C. | 105,841.00 | 14,307.00 | 120,148.00 | |||
Edgar, E. | 142,929.00 | 12,017.00 | 154,946.00 | |||
Gorman, L. | 36,679.00 | 3,007.00 | 39,686.00 | |||
Jolson, R. | 24,044.00 | 2,241.00 | 26,285.00 | |||
Nixel, P. | 6,800.00 | 2,384.00 | 9,184.00 |
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