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Record booba payroll

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Reference no: EM132939190

Problem 1: Record Booba's 8/31/20 payroll

Booba has payroll of $360,000 for the month ending August 2020. Federal income taxes withheld are $44,000 and state income taxes withheld are $13,000. Of the $360,000, $50,000 is exempt from social security tax because it is above the Social Security limit of $137,700. Of the $360,000, $332,000 is above the $7,000 FUTA & SUTA limit. FUTA rate is 0.8% and SUTA rate is 1.4%.

Reference no: EM132939190

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