Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i just need FICA CALCULATED WITH 1.45 and ive tried all numbers possible UTCH ALLLILIH Progress Below is a payroll sheet for Waterway Import Company

image text in transcribed
image text in transcribed
i just need FICA CALCULATED WITH 1.45 and ive tried all numbers possible
UTCH ALLLILIH Progress Below is a payroll sheet for Waterway Import Company for the month of September 2017. The company is allowed a 1% unemployment compensation rate by the state; the federal unemployment tax rate is 0.8% and the maximum for both is $7.000. Assume a 10% federal income tax rate for all employees and a 7.65% FICA tax on employee and employer on a maximum of $118.500. In addition, 1.45% is charged both employer and employee for an employee's wages in excess of $118.500 per employee. OCH CASSUL JIU,JUU per impiyee. decimal places, e.g. 15.26.) Unemplo eptember Earnings Income Tax Withholding FICA State $900 $ 68.85 800 61.20 1.000 765 1,700 130.05 12.100 1210 16,100 1610 32600 3260 ment of the payroll. (if no entry is required, select "No Entry for the account titles and enter for the amounts Credit accou d. Do not indent manually.) Debit Credit 32600 Address lenovo

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_2

Step: 3

blur-text-image_3

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

Internationale Rechnungslegung IFRS Praxis

Authors: Author

1st Edition

3834909289, 9783834909282

More Books

Students also viewed these Accounting questions

Question

Discuss the five steps that can be used to conduct a task analysis

Answered: 1 week ago

Question

Discuss the purpose and advantages of conducting a needs assessment

Answered: 1 week ago