Reference no: EM13913496
The form on page shows the amounts that appear in the Earnings to Date column of the employees' earnings records for 10 workers in Ranger Company. These amounts represent the cumulative earnings for each worker as of November 8, the company's last payday. The form also gives the gross amount of earnings to be paid each worker on the next payday, November 15. In the state where Ranger Company is located, the tax rates and bases are as follows:
Tax on Employees:
FICOASDI. . . . . . . . . . . . . . . . . . . . . . . . 4.2% on first $110,100
FICHI . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.45% on total earnings
SUTA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.5% on first $8,000
Tax on Employer:
FICOASDI. . . . . . . . . . . . . . . . . . . . . . . . 6.2% on first $110,100
FICHI . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.45% on total earnings
FUTA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.6% on first $7,000
SUTA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.8% on first $8,000
In the appropriate columns of the form on page 6-67, do the following:
1. Compute the amount to be withheld from each employee's earnings on November 15 for (a) FICA-OASDI, (b) FICA-HI, and (c) SUTA, and determine the total employee taxes.
2. Record the portion of each employee's earnings that is taxable under FICA, FUTA, and SUTA, and calculate the total employer's payroll taxes on the November 15 payroll.
Continue To Next Page
.png)
|
Gross margin ratio equals
: A company's gross profit was $83,950 and its net sales were $345,800. Its gross margin ratio equals
|
|
Chelates are more stable than simple complexes
: Chelates are more stable than simple complexes? explain!
|
|
Invest in stock portfolio
: You have $251,000 to invest in a stock portfolio. Your choices are Stock H, with an expected return of 14.1 percent, and Stock L, with an expected return of 10.2 percent. If your goal is to create a portfolio with an expected return of 12.05 percent,..
|
|
Find the position of the mass at any time
: If the spring is stretched to a length of 0.7 m and then released with initial velocity 0, find the position of the mass at any time.
|
|
The form on page shows the amounts that appear
: The form on page shows the amounts that appear in the Earnings to Date column of the employees' earnings records for 10 workers in Ranger Company.
|
|
Accounts payable
: What are some of the reasons that accounts payable testing should not be performed until after the company year end
|
|
The leader of a local health care organization
: The leader of a local health care organization, Cindy Janowski, has noticed leading organizations successfully implement Quality Improvement plans. Cindy wants to ensure her organization keeps current with those organizations' quality standards. She ..
|
|
When comparing mutually exclusive projects
: The internal rate of return: A) may produce multiple rates of return when cash flows are conventional. B) is best used when comparing mutually exclusive projects. C) is rarely used in business world today.
|
|
Calculate the cheng in draught
: A ship of draft 10 m is loading in salt water density 1015 kg/m3. Calculate the cheng in draught on entering salt water of density 1025 kg/m3.
|