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mentMain.do?invoker-assignments&takeAssignmentSessionlocator-as; ess-false Print Item Data on FICA Tax Ehrlich Co.began business on January 2, 20Y8. Salaries were paid to employees on the last day of each month, and socal security tax, Medicare tax, and federal income tax were required amounts. An employee who is hired in the middle of the month receives halif the monthly salary for that month. All required payrol tax reports were Red, and the correct amount taxes was remitted by the company for the calendar year. Early in 20Y9, before the Wage Security Administration, the employees' earnings records were inadvertently destroyed. e and Tax Statements (Form w-2) could be prepared for distribution to employees and for filing with the Socal of payro None of the employees resigned or were discharged during the year, and there were no changes in salary rates. The social security tax was withheld at the rate of 6.0% and Medicare tax at the rate taxes withheld, which are summarized as follows, were obtained from personnel records and payrall records Date First Monthly Monthly Income Employee Employed Salary Jan. 2 $3,400 Oct. 1 5,800 Apr. 16 2,300 Nov. 1 2,500 Jan. 16 5,800 Dec. 1 3,100 Feb. 1 6,700 $476 1,044 288 313 1,305 481 Edwards 1. Calculate the amounts to be reported on each employee's Wage and Tax Statement (Form W-2) for Social Security Federal Income Tax Withheld Tax WithheldExplanation / Answer
1) Employees Wage and tax statement :
2) Employer Payroll Taxes :
Employee No. of months employed $ Gross Earnings FIT Withheld Social Society T Withheld 6% Medicare T Withheld 1.5% State Unempl. Tax 5.4% Fed. Unempl. Tax 0.6% arnelt 12 40800 5712 2448 612 540 60 cruz 3 17800 3132 1068 267 540 60 edwards 8.5 19550 2448 1173 293 540 60 harvin 2 5000 626 300 75 270 30 nicks 11.5 66700 15008 4002 1001 540 60 shianae 1 3100 481 186 47 167 19 ward 11 73700 15851 4422 1106 540 60 Total $43258 $13599 $3401 $3137 $349Related Questions
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