Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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.)
image text in transcribed
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: FICA tax on the first $128,400 of earnings per employec is 7.65%(1.45% over 128,400). Record the payroll for the two employees at December 31. (Round answers to 2 decimal places, eg. 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 0 for the amounts.)

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

Facilities Managers Reference Management Planning Building Audits Estimating

Authors: Harvey H. Kaiser

1st Edition

0876291426, 978-0876291429

More Books

Students also viewed these Accounting questions