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Please show work Name Unemployment State Federal FICA Johnson Lee Denson Hatter Byrod Williams YTD Earnings $6,800 $6,500 $7,600 $13,600 $116,900 $121,900 September Tax Earnings
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Name Unemployment State Federal FICA Johnson Lee Denson Hatter Byrod Williams YTD Earnings $6,800 $6,500 $7,600 $13,600 $116,900 $121,900 September Tax Earnings Withheld $1,000 $800 $1,200 $1,900 $13,000 $16,000 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Above is a payroll sheet for Happy Garden for the month of October 2022. The company is allowed a 1% unemployment compensation rate by the state; the federal unemployment tax rate is 0.8% and the maximum for both is $7,000. Assume a 10% federal income tax rate for all employees and a 7.65% FICA tax on employee and employer on a maximum of $128,400. In addition, 1.45% is charged both employer and employee for an employee's wages in excess of $128,400 per employee. a. Finish the above payroll sheet. b. Prepare the necessary entries in 2022. bStep by Step Solution
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