Employee earnings records for Cornelius Company reveal the following gross earnings for four employees through the pay

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Employee earnings records for Cornelius Company reveal the following gross earnings for four employees through the pay period of December 15.

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For the pay period ending December 31, each employee??s gross earnings is $4,000. The FICA tax rate is 8% on gross earnings of $100,000.InstructionsCompute the FICA withholdings that should be made for each employee for the December 31 pay period. (Showcomputations.)

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Accounting Principles

ISBN: 978-0470534793

10th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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