Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Ocean Company had the following partially completed payroll register (Click the icon to view the partial payroll register.) Click the icon to view payroll tax
Ocean Company had the following partially completed payroll register (Click the icon to view the partial payroll register.) Click the icon to view payroll tax rate information.) Read the requirements 2 Roquirement 1. Complete the payroll register. Round to two decimals. (Round all amounts to the nearest cent. Abbreviations used: Beg. Beginning: Cum = Cumulative, Eam = Earnings: Exp. Expense; Med. = Medicare Ins. Insurance: With. Withholdings: Chk Check) % Earnings Withholdings 9 Salaries es Total and Wages Net sti Chk No. OASDI Med With Pay Exp 13 801 Beg Current Ending Cum Period Cum Earn. Earn. Earn. $ 85,000 $ 3.800 130,000 8,000 48,000 3,500 62,500 3.300 0 2,000 $ 325,500 $ 20.600 (0 Income Health United Tax Ins. Way $ 456 $ 76 $ 50 1,760 160 25 420 70 0 726 68 40 440 40 0 $ 3,802 $ 412 $ 115 (0 802 803 804 805 Enter any number in the edit fields and then click Check Answer 4 parts remaining Clear All Check Answer Copyright 2021 Pearson Education Inc. All Rights Reserved 19 . wa tv ompany had the following partially completed payroll register Data Table Earnings Withholdings Salaries and United Total Income Tax Net Health Insurance Check OASDI Medicare Way Withholdings Wages Expense Pay $ No. 801 78 $ Beginning Current Ending Cumulative Period Cumulative Earnings Earnings Earnings 85,000 $ 3,800 130,000 8,000 48,000 3,500 62,500 3,300 0 2,000 325,500 $ 20,600 456 $ 1.760 420 50 25 160 802 70 0 726 803 804 66 40 440 40 0 805 $ 3.802 $ 412 $ 115 Print Done Es maining Clear All Check Answer 2021 Pearson Education Inc. All Rights Reserved. gs, Exp. the nearest cent. Abbreviations used: Beg. = Beginn * More Info ding Eum. Earn. For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Print Done $ 3,802 $ 412 $ 115
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started