Solution-Calculate jims employers total payroll tax

Calculate jims employers total payroll tax liability

Reference no: EM131754668

Suppose Jim worked 65 hours during this payroll period and is paid $12.00 per hour. Assume FICA is 6.2%, Medicare is 1.45% and withholding tax is 10%.

Calculate Jim's employer's total payroll tax liability for the period.

*Jim's net paycheck = $642.33

*Jim's employer's payroll tax expense = $59.67

Reference no: EM131754668

Questions Cloud

Concentration of naphthalene in the sediment : Use the Wilcoxon rank-sum test to determine whether there is any evidence to suggest a difference in the concentration of naphthalene in the sediment.

What behavior is being modeled : Would you recommend this software or Internet resource to other teachers, parents, therapists (give specific type of therapist)? Why or why not?

What is doug basis for the building : Doug receives a duplex as a gift from his uncle. The uncle's basis for the duplex and land is $90,000. To determine gain, what is Doug's basis for the land

Cost effective to have current manufacturing employees : Is it more cost effective to have current manufacturing employees work on an overtime basis during the life of the contract or to hire new employees?

Calculate jims employers total payroll tax liability : Calculate Jim's employer's total payroll tax liability for the period

Review problem related to anesthesiologists : A representative of a reputable financial services company has approached you as manager of a four-person group of anesthesiologists with an opportunity.

Prepare laredo luggages schedule of cost of goods : Prepare Laredo Luggage's schedule of cost of goods manufactured for the year

What is her cash flow under the current capital structure : What is her cash flow under the current capital structure, assuming the firm has a dividend payout rate of 100%

Was the community experience better or worse than expected : Newgroveton is a community of 445,000. In the most recent year, there were 750 new cases of disease A in the community.

User Account

All Pages

Calculate jims employers total payroll tax liability

Reference no: EM131754668

Reference no: EM131754668

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

What are the amounts for alpha company

Jenna aracel the owner invested 215000 cash office

Explain pro rata reinsurance and its types with examples

What would you estimate carpetto cost of equity to be

Wenner furnace corp purchased machinery for 412920 on may 1

Costs incurred to date 280000 600000 785000 estimated costs

Tomorry company acquires a delivery truck at a cost of

Record the depreciation for the one-half year

Gain recognized on the transfer

What is the amount of interest receivable as of december

At the beginning of the current period griffey corp had

Write a paper about job-order costing in service companies

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT