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need all answers DO Wage and Tax Statement Data on Employer FICA Tax Ehrlich co. began business on January 2, 2078. Salaries were paid to
need all answers
DO Wage and Tax Statement Data on Employer FICA Tax Ehrlich co. began business on January 2, 2078. Salaries were paid to employees on the last day of each month, and social 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 receives half the monthly salary for that month. All required payroll tax reports were filed, and the correct amount of payroll taxes was remitted by the company for the calendar yeat. Early in 2099, before the Wage and Tax Statements (Form W-2) could be prepared for distribution to employees and for filing with the Social 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 6.0% and Medicare tax at the rate of 1.5%. Data on dates of employment, salary rates, and employees income taxes withheld, which are summarized as follows, were obtained from personnel records and payroll records: Date First Employed Monthly Salary Monthly Income Tax Withheld Employee Arnett Jan 2 $3,500 $490 Cruz 954 Oct. 1 5,300 Edwards Apr 16 2.800 350 Harvin Nov. 1 2.200 275 Nids Jan. 16 5,650 1.271 Shianco Dec. 1 406 3,200 Ward Feb. 1 0,800 1.462 Wand Feb. 6,800 1.462 Required: 1. Calculate the amounts to be reported on each employee's Wage and Tax Statement (Form W-2) for 20Y8. Note: Round amounts to the nearest whole dollar and enter all amounts as positive values Gross Federal Income Social Security Medicare Employee Earnings Tax Withheld Tax Withheld Tax Withheld 445.5 x 49.5 X Amett 1,416 x 8,250 X 60 X 57,600 X Cruz 3,396 X 9,996 X Edwards 24,000 X 4,776 x 60X 1,380 X 324 X 36X Harvin 6,000 X 1,070 X 6,540 X 60 X Nidos 110,000 X 25,850 X 60 X Shiancoe 6,900 X 116,000 X 26,000 X 422.82 X 46.98 x 1,314 X Ward 7,830 x 2. Calculate the following employer payroll taxes for the year: () sodal security: (b) Medicare; (c) state unemployment compensation at 5.4% on the first $10,000 of each employee's earnings: (d) federal unemployment compensation at 0.6% on the first $10,000 of each employee's earnings: () total Note: Round amounts to the nearest whole dollar and enter all amounts as positive values 2. Calculate the following employer payroll taxes for the year: (a) social security; (b) Medicare; (c) state unemployment compensation at 5.4% onth first $10,000 of each employee's earnings: (d) federal unemployment compensation at 0.6% on the first $10,000 of each employee's earnings: (e) tot Note: Round amounts to the nearest whole dollar and enter all amounts as positive values. 19,780.80 X (b) 4,945.20 X (c) 3,352.32 X 372.48 X (d () 28,450.80X Step by Step Solution
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