Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The filing status is shown

image text in transcribed
image text in transcribed
The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The filing status is shown on the payroll register, along with each employee's weekly salary, which has remained the same all year. Complete the payroll register for the payroll period ending December 20, 20, the 51st weekly payday. The state income tax rate is 2% of total earnings, the city income tax rate is 1.5% of the total gross earnings, and the wage bracket method is used for federal income taxes. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. If an amount is zero, enter "0". As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used. Click here to access the Wage-Bracket Method Tables Click here to access the Percentage Method Tables Hogan Thrift Shop Payroll Register FOR PERIOD ENDING December 20, 20-- Deductions (a) FICA (b) (c) (d) Employee Filing No. of W/H Total CIT HI SIT FIT OASDI Name Status Allowances Earnings $ $ N/A $2,720.00 MF) John, Matthew 275.00 N/A Previous un Smith, Jennifer Employee Name Filing No. of W/H Total Status Allowances Earnings (c) (b) FIT (d) CIT OASDI HI STE John, Matthew ME) N/A $2,720.00 S N/A 275.00 MF) N/A 250.00 Smith, Jennifer Bullen, Catherine Matthews, Mary Hadt, Bonnie in N/A 320.25 s N/A 450.00 s N/A 560.50 Camp, Sean Wilson, Helen N/A 475.50 un MFU N/A 890.00 Gleason, Josie $5,941.25 Totals Compute the employer's FICA taxes for the pay period ending December 20, 20- HI Taxes OASDI Taxes HI taxable earnings OASDI taxable earnings HI taxes OASDI taxes Previo

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information System

Authors: James A. Hall

7th Edition

978-1439078570, 1439078572

More Books

Students also viewed these Accounting questions