The names of the employees of Cox Security Systems and their regular salaries are shown in the following payroll register. Note that Hall and Short are paid monthly on the last payday, while all others are paid weekly In addition to the regular salaries, the company pays an annual bonus based on the amount of earnings for the year. For the current year, the bonus amounts to 8% of the annual salary paid to each employee. The bonus is to be paid along with the regular salaries on December 27, 20--, but the amount of the bonus and the amount of the regular salary will be shown separately on each employee's earnings statement. Assume that all employees received their regular salary during the entire year. Prepare the payroll for the pay period ending December 27, 20--, showing the following for each employee: Use the wage-bracket method to withhold federal income tax from the regular salaries. Withhold a flat 22% on the annual bonus. Total salaries and bonuses are subject to a 1% state income tax and a 2% city income tax. Enter all amounts as positive numbers. Round your answers to the nearest cent. Click here to access the Wage-Bracket Method Tables. For Period Ending December 27, 20-- No. of Earnings Deductions Marital W/H (b) (c) FICA (d) (a) Supp'l Employee Name Status Allowances Regular Total OASDI HI FIT Hall, Michael M 0 $3,500.00* $ $ $ Short, Jay T. M 3 2,750.00* Abbott, Linda S 4 520.00 Smith, Joseph S 5 465.00 Tols, Sean M. M 4 380.00 JUUUUUUU Gillespie, Michelle S 3 350.00 Smart, Jennifer S 5 575.00 White, Matthew ). M 3 425.00 $ Totals $ ister. Note that Hall and Short are paid monthly on the last payday, while all others are For the current year, the bonus amounts to 8% of the annual salary paid to each and the amount of the regular salary will be shown separately on each employee's Deductions (C) FICA (d) (e) (9) 1 OASDI HI FIT SIT CIT Net Pay $ $ $ For Period Ending December 27, 20-- No. of Earnings Marital W/H (a) Employee Name Status Allowances Regular Supp'l T Hall, Michael M 0 $3,500.00* Short, Joy T. M 3 2,750.00* Abbott, Linda S 4 520.00 Smith, Joseph S 5 465.00 Tols, Sean M. M 4 380.00 Gillespie, Michelle S 3 350.00 Smart, Jennifer S 5 575.00 White, Matthew J. M 3 425.00 Totals $ *Monthly Compute the employer's FICA taxes for the pay period ending December 27, 20--. OASDI Taxes HI Taxes OASDI taxable earnings $ HI taxable earnings $ OASDI taxes $ HI taxes The names of the employees of Cox Security Systems and their regular salaries are shown in the following payroll register. Note that Hall and Short are paid monthly on the last payday, while all others are paid weekly. In addition to the regular salaries, the company pays an annual bonus based on the amount of earnings for the year. For the current year, the bonus amounts to 8% of the annual salary paid to each employee. The bonus is to be paid along with the regular salaries on December 27, 20--, but the amount of the bonus and the amount of the regular salary will be shown separately on each employee's earnings statement. Assume that all employees received their regular salary during the entire year. Prepare the payroll for the pay period ending December 27, 20--, showing the following for each employee: Use the wage-bracket method to withhold federal income tax from the regular salaries. Withhold a flat 22% on the annual bonus. Total salaries and bonuses are subject to a 1% state income tax and a 2% city income tax. . Enter all amounts as positive numbers. Round your answers to the nearest cent. Click here to access the Wage-Bracket Method Tables. The names of the employees of Cox Security Systems and their regular salaries are shown in the following payroll register. Note that Hall and Short are paid monthly on the last payday, while all others are paid weekly In addition to the regular salaries, the company pays an annual bonus based on the amount of earnings for the year. For the current year, the bonus amounts to 8% of the annual salary paid to each employee. The bonus is to be paid along with the regular salaries on December 27, 20--, but the amount of the bonus and the amount of the regular salary will be shown separately on each employee's earnings statement. Assume that all employees received their regular salary during the entire year. Prepare the payroll for the pay period ending December 27, 20--, showing the following for each employee: Use the wage-bracket method to withhold federal income tax from the regular salaries. Withhold a flat 22% on the annual bonus. Total salaries and bonuses are subject to a 1% state income tax and a 2% city income tax. Enter all amounts as positive numbers. Round your answers to the nearest cent. Click here to access the Wage-Bracket Method Tables. For Period Ending December 27, 20-- No. of Earnings Deductions Marital W/H (b) (c) FICA (d) (a) Supp'l Employee Name Status Allowances Regular Total OASDI HI FIT Hall, Michael M 0 $3,500.00* $ $ $ Short, Jay T. M 3 2,750.00* Abbott, Linda S 4 520.00 Smith, Joseph S 5 465.00 Tols, Sean M. M 4 380.00 JUUUUUUU Gillespie, Michelle S 3 350.00 Smart, Jennifer S 5 575.00 White, Matthew ). M 3 425.00 $ Totals $ ister. Note that Hall and Short are paid monthly on the last payday, while all others are For the current year, the bonus amounts to 8% of the annual salary paid to each and the amount of the regular salary will be shown separately on each employee's Deductions (C) FICA (d) (e) (9) 1 OASDI HI FIT SIT CIT Net Pay $ $ $ For Period Ending December 27, 20-- No. of Earnings Marital W/H (a) Employee Name Status Allowances Regular Supp'l T Hall, Michael M 0 $3,500.00* Short, Joy T. M 3 2,750.00* Abbott, Linda S 4 520.00 Smith, Joseph S 5 465.00 Tols, Sean M. M 4 380.00 Gillespie, Michelle S 3 350.00 Smart, Jennifer S 5 575.00 White, Matthew J. M 3 425.00 Totals $ *Monthly Compute the employer's FICA taxes for the pay period ending December 27, 20--. OASDI Taxes HI Taxes OASDI taxable earnings $ HI taxable earnings $ OASDI taxes $ HI taxes The names of the employees of Cox Security Systems and their regular salaries are shown in the following payroll register. Note that Hall and Short are paid monthly on the last payday, while all others are paid weekly. In addition to the regular salaries, the company pays an annual bonus based on the amount of earnings for the year. For the current year, the bonus amounts to 8% of the annual salary paid to each employee. The bonus is to be paid along with the regular salaries on December 27, 20--, but the amount of the bonus and the amount of the regular salary will be shown separately on each employee's earnings statement. Assume that all employees received their regular salary during the entire year. Prepare the payroll for the pay period ending December 27, 20--, showing the following for each employee: Use the wage-bracket method to withhold federal income tax from the regular salaries. Withhold a flat 22% on the annual bonus. Total salaries and bonuses are subject to a 1% state income tax and a 2% city income tax. . Enter all amounts as positive numbers. Round your answers to the nearest cent. Click here to access the Wage-Bracket Method Tables
