Question
Jim Barnes' cumulative earnings are $103,000, and his gross pay for the week is $6,400. If the FICA rates are: OASDI 6.2% on a limit
Jim Barnes' cumulative earnings are $103,000, and his gross pay for the week is $6,400. If the FICA rates are: OASDI 6.2% on a limit of $128,400 and Medicare is 1.45%, what are his FICAminusOASDI and FICAminusMedicare taxes for the week? (Round your answers to the nearest whole dollar.) A. $0; $93 B. $397; $93 C. $0; $0 D. $397; $0
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, Maureen Sterling
7th Canadian Edition
1260065952, 978-1260065954
