Question
Suppose your annual salary is $54,378.89. Assume that you get paid once per month.On your paycheck stub, you notice that the amount withheld for FICA
Suppose your annual salary is $54,378.89. Assume that you get paid once per month.On your paycheck stub, you notice that the amount withheld for FICA Med Tax is$65.71, and the amount withheld for FICA SS Tax is $ 280.96.
a. Determine your monthly gross salary.
b. Determine the percentage of this monthly gross salary that is taken out for theFICA MedTax and also for the FICA SS Tax.
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Advanced Accounting
Authors: Debra JeterJames Reeve, Jonathan Duchac, Horace Brock, Paul Chaney
4th Edition
0470506989, 978-0470506981
