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Hi! my teacher game me a few questions for accounting homework im not sure of. thanks for all of your help!! :) 1. Sabrina Duncan

Hi! my teacher game me a few questions for accounting homework im not sure of. thanks for all of your help!! :)

1. Sabrina Duncan had gross earnings for the pay period ending 10/15/16 of $5,835. Her total gross earnings as of 9/30/16 were $104,400. If Social Security taxes are 6.2% on a maximum earnings of $106,800 per year, Sabrina's Social Security withheld from her 10/15/16 paycheck would be:

$212.97

$361.77

$205.08

$148.80

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2.

The monthly salaries for December and the year-to-date earnings as of November 30 for the three employees of the Lakeview Medical Center are listed below.

Compute the amount of social security tax and Medicare tax to be withheld from each of the employees gross pay for December. Assume a 6.2 percent social security tax rate and a base of $106,800 for the calendar year. Assume a 1.45 percent Medicare tax rate. (Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required.)

Employee No. December Salary Y-T-D Earnings through Nov. 30 Soc. Sec. Tax for Dec. Medicare Tax for Dec.
1 $ 7,500 $ 69,500 $ $
2 9,000 107,500 $ $
3 8,500 101,500 $ $

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3.

The employer records the amount of federal income tax withheld as:

an asset.

a payroll tax expense.

a liability.

an expense.

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4.

The Social Security Tax Payable account will normally have a(n)........

debit balance.

credit balance.

debit or credit balance depending on the timing of payments.

zero balance.

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