Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

wage and Tax Statement Data on imployer PICATA thick C. Degan business on January 2 Slanes were paid to employees on the last day of

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
wage and Tax Statement Data on imployer PICATA thick C. Degan business on January 2 Slanes were paid to employees on the last day of each month, and social security tax, Medicare tax, and federal income tax wire within the employee who hired in the middle of the month receives at the monthly salary for that meet required payroll or reports were filed, and the correct amount of parties warmed by the way for the calendar year. Early in the following year before the wape and Tak Statements (Form W- could be prepared for distribution to employees and foring with the Social Security Admin the per wings records were inadvertently destroyed None of the employees resigned or were discharged during the year, and there were no changes in searates. The social security tax was withheld at the rate of 6.0% and Medicare tax at the rate of tary Date on dates of employment, salary rates and employees income taxes withheld, which are summered as follows, were obtained from personal records and payroll records None of the employees resigned or were discharged during the year, and there were no changes in salary rates. The security tax was withheld at the rate of 6.0 and Medicare tax at the rate of 1. salary Data on dates of employment, salary rates and employees income taxes withheld, which are summarized as follows, were obtained from personal records and payroll records Employee Date First Employed Monthly Salary Monthly Income Tax Withheld Art Nov 16 53,500 3518 Crue Jan. 2 5,700 1,072 Edwards Oct 2,600 322 Harvin Dec 1 2,600 322 Nicka Feh. 10,700 2,400 SNance Mar 1,700 566 Ward Now, 16 8,700 1,079 Required: 1. Calculate the amounts to be reported on each employee's Wage and Tax Statement (Form W-?). Enter amounts to the nearest cont if required. Enter all amounts as positive numbers Employee Gross Earnings Federal Income Tax Withheld Social Security Tax withheld Medicare Tax withheld Arnett Cruz Edwards Harvin Nicks Shiance Ward 2. Calculate the following employer payroll taves for the year: (a) solat security, (b) Medicare, ()state unemployment compensations at 55 on the first $10,000 of each employee's warning sederal unemployment compensation at 0.8% on the first $10,000 of each employee's earnings (e) total. Round your were to two decimal places (a) (b) (a (0) (e)

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

Financial Statement Analysis And Earnings Forecasting In Accounting

Authors: Steven J Monahan

1st Edition

1680834509, 978-1680834505

More Books

Students also viewed these Accounting questions

Question

4. Describe the role of narratives in constructing history.

Answered: 1 week ago

Question

1. Identify six different types of history.

Answered: 1 week ago