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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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