October Company employs five salaried employees. Your task is Assume the following: 1. FICA OASDI is 6.2%
Question:
Assume the following:
1. FICA OASDI is 6.2% on $106,800; FICA Medicare is 1.45% on all earnings.
2. Each employee contributes $20 biweekly for medical insurance.
3. State income tax is 5% of gross pay.
4. FIT is calculated from Figure7.2.
Transcribed Image Text:
Allowance and Marital Status S-0 S-0 S-1 Cumulative Earnings before This Payroll $45,000 30,000 54,700 105,800 34,000 Biweekly Employee Bristow, Dylan Heman, Marc Sears, Alison Flaherty, Audrey Ackerman, Lionel Salary $1,500 Customer Service Department 1,350 Office 1,050 Office 1,790 Customer Service S-3 860 Customer Service
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (14 reviews)
OCTOBER COMPANY D Bristow M Herman A Sears A Flaherty L Ackerman Gross earnings for the current ...View the full answer
Answered By
Nazrin Ziad
I am a post graduate in Zoology with specialization in Entomology.I also have a Bachelor degree in Education.I posess more than 10 years of teaching as well as tutoring experience.I have done a project on histopathological analysis on alcohol treated liver of Albino Mice.
I can deal with every field under Biology from basic to advanced level.I can also guide you for your project works related to biological subjects other than tutoring.You can also seek my help for cracking competitive exams with biology as one of the subjects.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Exhibit 1.16 presents common-size income statements and balance sheets for six firms that operate at various stages in the value chain for the pharmaceutical industry. These common-size statements...
-
Preparation of cash budget Sam and Suzy Sizeman need to prepare a cash budget for the last quarter of 2016 to make sure they can cover their expenditures during the period. Sam and Suzy have been...
-
On 1 October 2005 Omega granted 50 employees options to purchase 500 shares in the entity. The options vest on 1 October 2007 for those employees who remain employed by the entity until that date....
-
Suppose that Serendipity Bank has excess reserves of $8000 and checkable deposits of $150,000. If the reserve ratio is 20 percent, what is the size of the banks actual reserves?
-
p = 0.9, n = 25. Compute the coefficient of variation of the binomial distribution in the above case.
-
What types of rotational symmetry are possible for a protein with (a) Four or (b) Six identical subunits?
-
Consider a randomized pair design with $n$ units where two treatments are randomly assigned to each unit, resulting in a pair of observations $\left(X_{i}, Y_{i} ight)$, for $i=1, \ldots, n$ on each...
-
Tidy House produces a variety of household products. The firm operates 24 hours per day with three daily work shifts. The first-shift workers receive regular pay. The second shift receives an 8...
-
In week two, we explored the fundamentals of entering into a contractual relationship with another party. For this discussion board activity, explain why knowing the business needs of another party...
-
Uniform rod AB of length l and weight W lies in a vertical plane and is acted upon by a couple M. The ends of the rod are connected to small rollers which rest against frictionless surfaces. (a)...
-
From the following information, please complete the chart for gross earnings for the week. (Assume an overtime rate of time and a half over 40hours.) Employee Jacoby Vasquez Leena Ferris Nicolette...
-
The bookkeeper of Coast Co. gathered the following data from individual employee earnings records and daily time cards. Your task is to complete a payroll register on November 17. Assume the...
-
The accompanying data are consistent with summary statistics from the paper Shape of Glass and Amount of Alcohol Poured: Comparative Study of Effect of Practice and Concentration ( British Medical...
-
identify two areas in healthcare that might benefit significantly from artificial intelligence (AI) and why?
-
Provide an analysis of the market relevant to the business like market trends and growth rate.
-
According to Gido and Clement (2015:287), another approach to identify risks of a project is to establish risk categories. Identify and appraise the risk categories. Thereafter, identify and...
-
The cost of a service in monetary terms is the quantity of each resource consumed divided by the price of the resource at the moment when it is consumed.
-
Describe the difference between disparate impact and disparate treatment. Include an example of disparate impact and an example of disparate treatment.
-
Obtain an official organization chart for an organization that you know well. To what extent would you regard the organizations structure as indicative of a bureaucratic structure and indicative of...
-
Calculate the electrical conductivity of a fiber-reinforced polyethylene part that is reinforced with 20 vol % of continuous, aligned nickel fibers.
-
Why is identifying the actors the first step in usecase modeling?
-
Give the category, the classification, and the report(s) on which each of the following appears (for example: Cashasset, current asset, balance sheet): a. Salaries Payable b. Accounts Payable c....
-
From the partial worksheet in Figure journalize the closing entries for December 31 for G. JacksonCo. G. JACKSON CO WORKSHEET FOR YEAR ENDED DECEMBER 31, 201x Balance Sheet Dr Income Statement...
-
From the worksheet in Exercise 12A-3, prepare the assets section of a classified balance sheet. In Exercise12A-3, G. JACKSON CO WORKSHEET FOR YEAR ENDED DECEMBER 31, 201x Balance Sheet Dr Income...
-
What percentage of the American opportunity tax credit may be refundable?
-
You want to buy a house. You have $50,000 saved for the down payment and can pay $2,000 per month on the mortgage. The 30-year mortgage interest rate is 9% per year (equal to 0.75% per month). What...
-
Compute the Social Security and Medicare for Paul, Alex, and Andrea. The rates are 6 . 2 % for Social Security and 1 . 4 5 % for Medicare. Assume the Social Security limit is $ 1 4 2 , 8 0 0 and the...
Study smarter with the SolutionInn App