Question
The FICA Tax (LO 9.3) (COVID-19 provisions) Lamden Company paid its employee Trudy, wages of $61,500 in 2021. Of this amount, $2,400 was allocated to
The FICA Tax (LO 9.3)
(COVID-19 provisions) Lamden Company paid its employee Trudy, wages of $61,500 in 2021. Of this amount, $2,400 was allocated to sick pay for two weeks due to Trudys spouse contracting COVID-19 and Trudy being quarantined. Trudy spent another 10 weeks at home caring for their children that were unable to attend school. Lamden allocated $10,000 in wages to family leave. Lamden allocated $6,000 of Trudys wages to the employee retention credit (5 weeks). The allocation of health care costs is $200 per week. Assume that all sick leave and family leave were taken after April 1, 2021. Compute Lamdens:
Round your answers to two decimal places.
|
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