Complete the following weekly payroll: Assume: (1) FIT calculated by percentage method assuming joint filing; (2) Social Security 6.2% on $142,800; and Medicare 1.45% Cumulative balance before this payroll is below maximum as related to cumulative earnings in calculating Social Security. Note: Round your answers to the nearest cent. Name Joe Riense Marital Status M $ Gross 1,400 $ FIT Social Security 210.00 $ 86.80 $ Medicare 20.30 $ Net Pay 1,082.90
Complete the following weekly payroll: Assume: (1) FIT calculated by percentage method assuming joint filing; (2) Social Security 6.2% on $142,800; and Medicare 1.45% Cumulative balance before this payroll is below maximum as related to cumulative earnings in calculating Social Security. Note: Round your answers to the nearest cent. Name Joe Riense Marital Status M $ Gross 1,400 $ FIT Social Security 210.00 $ 86.80 $ Medicare 20.30 $ Net Pay 1,082.90
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 74APSA: Payroll Accounting Jet Enterprises has the following data available for its April 30, 2019, payroll:...
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