Question: Problem 13-4 Below is a payroll sheet for Buffalo Im Company for the month of September 2017. The company is allowed a 1% unemployment compensation




Problem 13-4 Below is a payroll sheet for Buffalo Im Company for the month of September 2017. The company is allowed a 1% unemployment compensation rate by the state: the federal unemployment tax rate is 0.8% and port the maximum for both is $7,000. Assume a 10% federal income tax rate for all employees and a 7.65% FICA tax on employee and employer on a maximum of $118,500. In addition, 1.45% is charged both employer and employee for an employee's wages in excess of $118,500 per employee. Your answer is partially correct. Try again. Complete the payroll sheet. (Round answers to 2 decimal places, eg, 15.26.) ment Tax Earnings September Income Tax Withholding Federal Name to Au 31 Earnin FICA State 200 1.50 $6,700 B. D. Williams $800 5.55 5.000 2.00 D. Raye 6,600 Bakker 1100 10 F. Lopez 13,500 180 T 137.70 1,800 A. Daniels 105,700 18 500 17,100 1710 330.63 110,900 B. Kingston Tota 251000 Make the necessary entry to record the payment of the payroll. (If no entry is required, select "No Entry" for the account titles and enter 0 for the announts. Credit account titles are automatically
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
