Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $9,188. The

image text in transcribed
Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $9,188. The FICA tax for social security is 6.2% and the FICA tax rate for Medicare is 1.45%. The FUTA tax rate of 0.6% and the SUTA tax rate of 5,4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,524.57. What is the total amount of taxes withheld from the Portia's earnings? (Round your intermediate calculations to two decimal places.) Multiple Choice $2,622.00 $2,661.46 $1,65780 $2,227.46 $4,146.57

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

Auditing And Assurance A Case Studies Approach

Authors: LexisNexis

7th Edition

0409343943, 978-0409343946

More Books

Students also viewed these Accounting questions

Question

Design a health and safety policy.

Answered: 1 week ago