Question: The payroll records of simplex software show the following information
The payroll records of Simplex Software show the following information about Ken LeShon, an employee, for the weekly pay period ending September 30, 2009. LeShon is single and claims one allowance. Compute his Social Security tax (6.2%), Medicare tax (1.45%), federal income tax withholding, state income tax (0.5%), and net pay for the current pay period. The state income tax is 0.5 percent on the first $9,000 earned. (Use the withholding table in Exhibit 9A.6, and round tax amounts to the nearest cent.)
Answer to relevant QuestionsTad Newbern, an unmarried employee, works 47 hours in the week ended January 12. His pay rate is $12 per hour, and his wages are subject to no deductions other than FICA—Social Security, FICA—Medicare, and federal income ...Shown here are condensed income statements for two different companies (both are organized as LLCs and pay no income taxes). Required 1. Compute times interest earned for Milo Company. 2. Compute times interest earned for ...Ravello Company’s first weekly pay period of the year ends on January 8. On that date, the column totals in Ravello’s payroll register indicate its sales employees earned $20,160, its office employees earned $70,840, and ...Refer to the bond details in Problem. In Problem, Jules issues 4.5%, five-year bonds dated January 1, 2009, with a $230,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $235,160. ...Fortune Systems issues bonds dated January 1, 2011, that pays interest semiannually on June 30 and December 31. The bonds have a $35,000 par value, an annual contract rate of 4%, and mature in four years. Required For each ...
Post your question