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hi Phaedra Hise had earned total salary of $120,000 through November 30. Her December salary is $9,800. Richard Tangard began employment on December 1 and
hi Phaedra Hise had earned total salary of $120,000 through November 30. Her December salary is $9,800. Richard Tangard began employment on December 1 and will be paid his first month's salary of $7,000 on December 31. Income tax withholding for December for each employee is as follows: Federal Income Tax State Income Tax Phaedra Hise $2,180 390 Richard Tangard $1,390 250 FICA tax on the first $128,400 of earnings per employee is 7.65% (1.45% over 128,400). Record the payroll for the two employees at December 31. (Round answers to 2 decimal places, e.g. 15.25. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
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