Mastery Problem: Preparing a semimonthly payroll Lo3 2M Prior period paycheck stubs and selected payroll data for Malone company are provided in a payroll register in Working Papers. the Instructions: Use the tax withholding tables in Lesson 12-2 to find the federal income tax payroll register. withholding for each employee. Calculate withholdings for security nd Medicare taxes using 6.2% and 145% rates, respectively. None the employees has accumulated earnings greater than the social security of voluntary deductions are not eligible to be deducted from total earnings to calculate payroll taxes tax base. The Prepare a check for the total amount of the net pay. Make the check payable to First American Bank, payroll Account 345-59-721, and sign your name as the manager of Malone Company. Prepare payroll checks for Henry W Davis, Check No. 452, and Juan S.Garcia,Check No. 453.Sign your name as the manager of Malone Company. Record the two payroll check numbers in the payroll register. 3 AAONILINE htree Mastery Problem: Preparing a semimonthly payroll Lo3 2M Prior period paycheck stubs and selected payroll data for Malone company are provided in a payroll register in Working Papers. the Instructions: Use the tax withholding tables in Lesson 12-2 to find the federal income tax payroll register. withholding for each employee. Calculate withholdings for security nd Medicare taxes using 6.2% and 145% rates, respectively. None the employees has accumulated earnings greater than the social security of voluntary deductions are not eligible to be deducted from total earnings to calculate payroll taxes tax base. The Prepare a check for the total amount of the net pay. Make the check payable to First American Bank, payroll Account 345-59-721, and sign your name as the manager of Malone Company. Prepare payroll checks for Henry W Davis, Check No. 452, and Juan S.Garcia,Check No. 453.Sign your name as the manager of Malone Company. Record the two payroll check numbers in the payroll register. 3 AAONILINE htree