Question
PSa 4-2 Calculate Social Security Tax For each of the following employees, calculate the Social Security tax for the weekly pay period described: NOTE: For
PSa 4-2 Calculate Social Security Tax
For each of the following employees, calculate the Social Security tax for the weekly pay period described: NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1:Alfred Morneau earned gross pay of $820. Each period he makes a 401(k) contribution of 5% of gross pay, and his current year taxable earnings for Social Security tax, to date, are $37,200. Total Social Security tax = $
2:Rachel Schillo earned gross pay of $1,900. She does not make any retirement plan contributions, and her current year taxable earnings for Social Security tax, to date, are $105,000. Total Social Security tax = $
3:Rudolph Fabrizio earned gross pay of $3,200. Each period he contributes 3% of gross pay to a flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $126.900. Total Social Security tax = $
4:Michael Frank earned gross pay of $2,650. Each period he designates 6% of gross pay for a dependent care flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $224,300. Total Social Security tax = $
PSa 4-2 Calculate Social Security Tax
For each of the following employees, calculate the Social Security tax for the weekly pay period described: NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1:Alfred Morneau earned gross pay of $820. Each period he makes a 401(k) contribution of 5% of gross pay, and his current year taxable earnings for Social Security tax, to date, are $37,200. Total Social Security tax = $
2:Rachel Schillo earned gross pay of $1,900. She does not make any retirement plan contributions, and her current year taxable earnings for Social Security tax, to date, are $105,000. Total Social Security tax = $
3:Rudolph Fabrizio earned gross pay of $3,200. Each period he contributes 3% of gross pay to a flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $126.900. Total Social Security tax = $
4:Michael Frank earned gross pay of $2,650. Each period he designates 6% of gross pay for a dependent care flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $224,300. Total Social Security tax = $
PSa 4-2 Calculate Social Security Tax
For each of the following employees, calculate the Social Security tax for the weekly pay period described: NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1:Alfred Morneau earned gross pay of $820. Each period he makes a 401(k) contribution of 5% of gross pay, and his current year taxable earnings for Social Security tax, to date, are $37,200. Total Social Security tax = $
2:Rachel Schillo earned gross pay of $1,900. She does not make any retirement plan contributions, and her current year taxable earnings for Social Security tax, to date, are $105,000. Total Social Security tax = $
3:Rudolph Fabrizio earned gross pay of $3,200. Each period he contributes 3% of gross pay to a flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $126.900. Total Social Security tax = $
4:Michael Frank earned gross pay of $2,650. Each period he designates 6% of gross pay for a dependent care flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $224,300. Total Social Security tax = $
PSa 4-2 Calculate Social Security Tax
For each of the following employees, calculate the Social Security tax for the weekly pay period described: NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1:Alfred Morneau earned gross pay of $820. Each period he makes a 401(k) contribution of 5% of gross pay, and his current year taxable earnings for Social Security tax, to date, are $37,200. Total Social Security tax = $
2:Rachel Schillo earned gross pay of $1,900. She does not make any retirement plan contributions, and her current year taxable earnings for Social Security tax, to date, are $105,000. Total Social Security tax = $
3:Rudolph Fabrizio earned gross pay of $3,200. Each period he contributes 3% of gross pay to a flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $126.900. Total Social Security tax = $
4:Michael Frank earned gross pay of $2,650. Each period he designates 6% of gross pay for a dependent care flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $224,300. Total Social Security tax = $VV
PSa 4-2 Calculate Social Security Tax
For each of the following employees, calculate the Social Security tax for the weekly pay period described: NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1:Alfred Morneau earned gross pay of $820. Each period he makes a 401(k) contribution of 5% of gross pay, and his current year taxable earnings for Social Security tax, to date, are $37,200. Total Social Security tax = $
2:Rachel Schillo earned gross pay of $1,900. She does not make any retirement plan contributions, and her current year taxable earnings for Social Security tax, to date, are $105,000. Total Social Security tax = $
3:Rudolph Fabrizio earned gross pay of $3,200. Each period he contributes 3% of gross pay to a flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $126.900. Total Social Security tax = $
4:Michael Frank earned gross pay of $2,650. Each period he designates 6% of gross pay for a dependent care flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $224,300. Total Social Security tax = $
PSa 4-2 Calculate Social Security Tax
For each of the following employees, calculate the Social Security tax for the weekly pay period described: NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1:Alfred Morneau earned gross pay of $820. Each period he makes a 401(k) contribution of 5% of gross pay, and his current year taxable earnings for Social Security tax, to date, are $37,200. Total Social Security tax = $
2:Rachel Schillo earned gross pay of $1,900. She does not make any retirement plan contributions, and her current year taxable earnings for Social Security tax, to date, are $105,000. Total Social Security tax = $
3:Rudolph Fabrizio earned gross pay of $3,200. Each period he contributes 3% of gross pay to a flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $126.900. Total Social Security tax = $
4:Michael Frank earned gross pay of $2,650. Each period he designates 6% of gross pay for a dependent care flexible spending account, and his current year taxable earnings for Social Security tax, to date, are $224,300. Total Social Security tax = $
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Cima Official Exam Practice Kit Fundamentals Of Management Accounting Cima Certificate In Business Accounting 2006 Syllabus
Authors: Walter Allan
2nd Edition
0750687177, 978-0750687171
