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I am not sure if the answer I put is correct... Chapter 11 Homework Problems A Calculator 1 eBook Note: Round amounts to the nearest
I am not sure if the answer I put is correct...
Chapter 11 Homework Problems A Calculator 1 eBook Note: Round amounts to the nearest whole dollar and enter all amounts as positive values. E Print Item Federal Income Gross Social Security Medicare Earnings Employee Tax Withheld Tax Withheld Tax Withheld Arnett 4,650 Cruz 17,400 3,132 1,044 261 Edwards vin Nicks Shiancoe Ward 2. Calculate the following employer payroll taxes for the year: (a) social security; (b) Medicare; (c) state unemployment compensation at 5.4% on the first $10,000 of each employee's earnings; (d) federal unemployment compensation :0.6% on the first $10,000 of each employee's earnings; (e) total. Note: Round amounts to the nearest whole dollar and enter all amounts as positive values. (a) $ (b) (c) (d) (e) $ Check My Work Previous 2 more Check My Work uses remaining. Wage and Tax Statement Data on Employer FICA Tax Ehrlich Co. began business on January 2, 20Y8. Salaries were paid to employees on the last day of each month, and social security tax, Medicare tax, and federal income tax were withheld in the required amounts. An employee who is hired in the middle of the month receives half the monthly salary for that month. All required payroll tax reports were filed, and the correct amount of payroll taxes was remitted by the company for the calendar year. Early in 20Y9, before the Wage and Tax Statements (Form W-2) could be prepared for distribution to employees and for filing with the Social Security Administration, the employees' earnings records were inadvertently destroyed. None of the employees resigned or were discharged during the year, and there were no changes in salary rates. The social security tax was withheld at the rate of 6.0% and Medicare tax at the rate of 1.5%. Data on dates of employment, salary rates, and employees' income taxes withheld, which are summarized as follows, were obtained from personnel records and payroll records: Date First Monthly Monthly Income Employee Employed Salary Tax Withheld Amett Jan. 2 $3,100 $434 Cruz Oct. 1 5,800 1,044 Edwards Apr. 16 2,300 288 Harvin Nov. 1 2,200 275 Nicks Jan. 16 5,650 1,271 Shiancoe Dec. 1 3,900 605 Ward Feb. 1 6,400 1,376 Required: 1. Calculate the amounts to be reported on each employee's Wage and Tax Statement (Form W-2) for 20Y8. Note: Round amounts to the nearest whole dollar and enter all amounts as positive values. Medicare Gross Federal Income Social SecurityStep by Step Solution
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