Question
The monthly salaries for December and the year-to-date earnings as of November 30 for the three employees of the Lakeview Medical Center are listed
The monthly salaries for December and the year-to-date earnings as of November 30 for the three employees of the Lakeview Medical Center are listed below. Compute the amount of social security tax and Medicare tax to be withheld from each of the employee's gross pay for December. Assume a 6.2 percent social security tax rate on a maximum of $122,700 for the calendar year. Assume a 1.45 percent Medicare tax rate. (Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "o" wherever required.) Employee December Y-T-D Earnings Soc. Sec. Medicare Tax Number Salary through Nov. 30 Tax for Dec. for Dec. 7,500 $ 9,000 8,500 1 $ 69,500 118,800 112,400 2 3.
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
77639731, 978-0077639730
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