Taxable Earnings Payments Ending Cumulative Earnings Federal Income Tax Social Security Deductions Social Security Tax State Income Tax Medicare Tax Net Amount Check No. Unemploy-ment Medicare Total Name Trouble, M. Dainty, D. Joyner, T. Madison, W. Frank, G. Thomas, R. Beginning Cumulative Earnings 7,000.00 6,540.00 25,600.00 45,000.00 90,200.00 35,000.00 209,340.00 Total Earnings 580.00 470.00 680.00 900.00 1,100.00 890.00 4,620.00 50.00 36.00 75.00 92.00 245.00 46.00 544.00 10.00 7.20 15.00 18.40 49.00 9.20 108.80 Ultimate Accounting Services has the following payroll information for the week ending in December 7. State Income Tax is computed as 20 percent of Federal Income Tax. Deductions Name Trouble, M. Dainty, D. Joyner, T. Madison, W. Frank, G. Thomas, R. Beginning Cumulative Earnings 7,000.00 6,540.00 25,600.00 45,000.00 90,200.00 35,000.00 Total Earnings 580.00 470.00 680.00 900.00 1,100.00 890.00 Federal Income Tax 50 36 75 92 245 46 State Income Tax 10 7.2 15 18.4 49 9.2 Assumed tax rates are as follows: a. FICA: Social Security, (employer) 6.2 percent (0.062) and (employee) 6.2 percent (0.062) on the first $118,500 for each employee, and Medicare, 1.45 percent (0.0145) on all earnings for each employee. b. State unemployment tax, 5.4 percent (0.054) on the first $7,000 for each employee. c. Federal unemployment tax, 0.6 percent (0.006) on the first $7,000 for each employee. What you must do: Complete the attached payroll register (Unit 6 Payroll - Question 4)(Excel Spreadsheet). To assist, use the following information: Payroll checks begin with Ck. No. 4510 in the payroll register. Taxable Earnings Payments Ending Cumulative Earnings Federal Income Tax Social Security Deductions Social Security Tax State Income Tax Medicare Tax Net Amount Check No. Unemploy-ment Medicare Total Name Trouble, M. Dainty, D. Joyner, T. Madison, W. Frank, G. Thomas, R. Beginning Cumulative Earnings 7,000.00 6,540.00 25,600.00 45,000.00 90,200.00 35,000.00 209,340.00 Total Earnings 580.00 470.00 680.00 900.00 1,100.00 890.00 4,620.00 50.00 36.00 75.00 92.00 245.00 46.00 544.00 10.00 7.20 15.00 18.40 49.00 9.20 108.80 Ultimate Accounting Services has the following payroll information for the week ending in December 7. State Income Tax is computed as 20 percent of Federal Income Tax. Deductions Name Trouble, M. Dainty, D. Joyner, T. Madison, W. Frank, G. Thomas, R. Beginning Cumulative Earnings 7,000.00 6,540.00 25,600.00 45,000.00 90,200.00 35,000.00 Total Earnings 580.00 470.00 680.00 900.00 1,100.00 890.00 Federal Income Tax 50 36 75 92 245 46 State Income Tax 10 7.2 15 18.4 49 9.2 Assumed tax rates are as follows: a. FICA: Social Security, (employer) 6.2 percent (0.062) and (employee) 6.2 percent (0.062) on the first $118,500 for each employee, and Medicare, 1.45 percent (0.0145) on all earnings for each employee. b. State unemployment tax, 5.4 percent (0.054) on the first $7,000 for each employee. c. Federal unemployment tax, 0.6 percent (0.006) on the first $7,000 for each employee. What you must do: Complete the attached payroll register (Unit 6 Payroll - Question 4)(Excel Spreadsheet). To assist, use the following information: Payroll checks begin with Ck. No. 4510 in the payroll register
