Question
Keith Dalton is the owner and sole employee of the Dalton Co. Keith pays himself a salary of $2,400 each week. Keith is about to
Keith Dalton is the owner and sole employee of the Dalton Co. Keith pays himself a salary of $2,400 each week. Keith is about to complete the payroll entries for the week ending June 3 (his YTD pay is $51,500).
Tax Information:
FICA OASDI
FICA HI
Federal Income Tax Withheld: $532 per pay period.
State Income Tax Withheld: $22% of Federal Withholding.
FUTA Tax
SUTA Tax: 0.05% on the first $14,000.
Additional Deductions:
401-K Plan: 3% per pay period.
Child Support Garnishment: $125 per pay period.
Health Insurance Premium: $110 per pay period.
Required:
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