Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Porth Grant is an empioyee who is pald monthly. For the month of January of the current yeat, she earned a total of $8,688. The

image text in transcribed
Porth Grant is an empioyee who is pald monthly. For the month of January of the current yeat, she earned a total of $8,688. The Federat insurance Contributions Act (FCCA) tax for social security is 6.2% of the first $137700 eamed each calendar year and the Federal insurance Contributions Act (FICA) tax rate for Medicare is 1.45% of all enmings. The Federal Unemployment Taxes (FUTA) tax rote of 0.6% and the Sthte Unemployment Taxes (SUTA) tax rate of 5.4W are appled to the first $7,000 of an employee's poy. The amount of federal income tax withheld from her earnings was $1,44157, What is the total amount of taxps withheld from the Porta's earnings? (Round your intermedlate calculations to two decimal places.) Muriple Choce 51,6179? 13246.22 $2.00521 12.59236 $19100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate accounting

Authors: J. David Spiceland, James Sepe, Mark Nelson

7th edition

978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094

More Books

Students also viewed these Accounting questions