Question

Carmen Santos is owner and sole employee of CS Corporation.
He pays himself a salary of $2,400 this week.

Additional tax information includes:
FICA tax—OASDI. . . . . . . . . . . . . . . . . . . . . . . . . 4.2% on first $110,100 (employer—6.2%)
FICA tax—HI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.45% on total pay
Federal income tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $532.00 per pay
State income tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22% of the federal income tax withholding
Federal unemployment tax . . . . . . . . . . . . . . . . . . . . . . . . 0.6% on first $7,000
State unemployment tax . . . . . . . . . . . . . . . . . . . . . . . . . . 0.05% on first $14,000
Additional payroll deductions include:
401(k) plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3% per pay
Child support garnishment . . . . . . . . . . . . . . . . . . . . . . . . $125 per pay
Health insurance premium. . . . . . . . . . . . . . . . . . . . . . . . . $110 per pay

Record the payroll entry and payroll tax entry for the pay of the week ended June 7 (his year-to-date pay is$51,500).


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  • CreatedOctober 10, 2013
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