Funke Corporation has only five employees who are all paid $1,050 per week. Compute the total FICA taxes that the employer would withhold from the five employees each week and the amount the company would pay as its own liability for the employer's share of the FICA taxes on the weekly wages of the five employees: Employees’ total OASDI .

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Funke Corporation has only five employees who are all paid $1,050 per week. Compute the total FICA taxes that the employer would withhold from the five employees each week and the amount the company would pay as its own liability for the employer's share of the FICA taxes on the weekly wages of the five employees:

Employees’ total OASDI . . . . . . . . $_____________________

Employees’ total HI . . . . . . . . . . . . $_____________________

Employer’s total OASDI . . . . . . . . $_____________________

Employer’s total HI . . . . . . . . . . . .$_____________________


Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Related Book For answer-question

Payroll Accounting

2013 edition

Authors: Bernard J. Bieg, Judith A. Toland

ISBN: 978-1133962533