Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Requirement 1. Complete the payroll register. Round to two decimals. (Round all amounts to the nearest cent. Abbreviations used: Beg. Beginning; Cum. = Cumulative;
Requirement 1. Complete the payroll register. Round to two decimals. (Round all amounts to the nearest cent. Abbreviations used: Beg. Beginning; Cum. = Cumulative; Earn. = Earnings; Exp. = Expense; Med. = Medicare; Ins. = Insurance; With. Withholdings; Chk = Check.) Earnings Withholdings Beg Current Ending Cum. Period Cum. Earn. Eam. Earn. OASDI Med. Ins. $ 85,000 $3,700 Income Health Charity Tax $ 1,184 $ Total Net Salaries and Chk Wages Partial Payroll Register Fund With. Pay No. Exp. Earnings Withholdings 111 S 15 801 Sala 145,700 7,500 2,625 150 45 802 Beginning Current Ending ar 60,000 2,300 736 69 0 803 Cumulative Period Cumulative Income Health Charity Total Net Check Wa 61,000 3,300 1,155 66 15 804 Earnings Earnings Earnings OASDI Medicare Tax Insurance Fund Withholdings Pay No. Expe 0 5,000 1,750 150 0 805 $ 85,000 $3,700 $1,184 $ 111 S 15 801 $ 351,700 $ 21,800 $ 7,450 S 546 $ 75 145,700 7,500 2,625 150 45 802 60,000 2,300 736 69 0 803 Payroll Tax Rate Information For all payroll calculations, use the following tax rates and round amounts to the nearest cent Employee: Employer. OASDI: 6.2% on first $147,000 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. QASDI: 6.2% on first $147,000 eamed; Medicare: 1.45%; FUTA: 0.6% on first $7,000 eamed; SUTA: 5.4% on first $7,000 eamed. $ 351,700 $ 21,800 61,000 3,300 1,155 66 15 804 0 5,000 1,750 150 0 805 $7,450 S 546 S 75 Print Done Etext pages Calculator Print Done Clear all Check answer 11:45 PM
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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