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I just need C and D for question 2 Wage and Tax Statement Data on Emplover FICA Tax Ehrlich Co. began business on January 2.
I just need C and D for question 2
Wage and Tax Statement Data on Emplover FICA Tax Ehrlich Co. began business on January 2. Salaries were paid to employees on the last day of each month, and soclat 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 recelves haif the monthly salary for that month. All required payroll tax reports were filed, and the correct amount of poyroll taxes was remitted by the company for the calendar yeae. Early in the following year, before the Wage and Tax.Statements (Form W-2) could be pregared for distribution to employees and for fling with the Soclal 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 6.04 and Medicare tax at the rate of 1.5% on salary. Data on dates of employmient, saiary rates, and employees income taxes withheld, which are summarized as follows, were obtained from personnel records and payroll records: 1. Compute the amounts to be reported for the year on each employee's Wage and Tax Statement (Form W-2). Enter amounts to the nearest cent if required. Enter all amounts as positive numbers. 2. Compute the following employer payroli 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) fedenal unemployment compensation at 0.8% on the first $10,000 of each employee's eamings, and (c) total. Round your answers to two decimal places. (0) (b) (c) (d) (6) Towa mish Consider each employee's date of hire. Remember there is a limt on how much the emgloyer poys for state and federal unemployment taxes per employee Step by Step Solution
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