Question
The monthly salaries for December and the year-to-date earnings of the employees of Bush Consulting Company as of November 30 follow. Determine the amount
The monthly salaries for December and the year-to-date earnings of the employees of Bush Consulting Company as of November 30 follow. Determine the amount of Medicare tax to be withheld from each employee's gross pay for December. Assume a 1.45 percent Medicare tax rate and that all salaries and wages are subject to the tax. (Round your final answers to 2 decimal places.) Year-to-Date Employee December Earnings Medicare Taxable No. Salary Through November 30 Earning- December Medicare Tax 1.45% 1 $ 8,800 $ 98,900 2 8,900 69,900 3 9,609 123,000 4 8,900 99,900
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
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