Question
In: Accounting
During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,500. Compute...
During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,500. Compute the amount of FICA taxes that should be withheld from her. If an amount is zero, enter "0".
| OASDI | HI | |
| a. 9th paycheck | $ | $ |
| b. 18th paycheck | $ | $ |
| c. 24th paycheck | $ | $ |
| d. If Rachael Parkin's year-to-date earnings
as of her 24th paycheck are $180,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld? |
Solutions
Expert Solution
Solution:-
| OASDI | HI | |
| a. 9th paycheck | $ 465.00 | $ 108.75 |
| b. 18th paycheck | $ 446.40 | $ 108.75 |
| c. 24th paycheck | 0 | $ 108.75 |
| d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $180,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld? | $ 720.00 |
ekkarill92 answered 2 years agoRelated Solutions
During 2018, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,500. Compute...
During 2018, Rachael Parkins, president of Mathieson Company,
was paid a semimonthly salary of $7,500. Compute the amount of FICA
taxes that should be withheld from her. If an amount is zero, enter
"0". OASDI HI a. 9th paycheck $ $ b. 17th paycheck $ $ c. 24th
paycheck $ $ d. If Rachael Parkin's year-to-date earnings as of her
24th paycheck are $180,000, and her year-end bonus is $100,000, how
much is the additional 0.9% HI tax withheld? $
uring 2018, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,700. Compute...
uring 2018, Rachael Parkins, president of Mathieson Company, was
paid a semimonthly salary of $7,700. Compute the amount of FICA
taxes that should be withheld from her. If an amount is
zero, enter "0".
OASDI
HI
a. 9th paycheck
$
$
b. 17th paycheck
$
$
c. 24th paycheck
$
$
d. If Rachael Parkin's year-to-date earnings
as of her 24th paycheck are $184,800, and her year-end bonus is
$100,000, how much is the additional 0.9% HI tax withheld?
$
During 2018, Matti Conner, president of Maggert Company, was paid a semimonthly salary of $5,800. Compute...
During 2018, Matti Conner, president of Maggert Company, was
paid a semimonthly salary of $5,800. Compute the amount of FICA
taxes that should be withheld from her.
Note that Matti files single on her tax return. If an
amount is zero, enter "0".
OASDI
HI
a.
9th paycheck
$
$
b.
22nd paycheck
$
$
c.
24th paycheck
$
$
d.
If Matti Conner's year-to-date
earnings as of her 24th paycheck are $139,200 and her year-end
bonus is $100,000. How...
During 2020, Juan Gonzalez, president of Acme Inc. was paid a semimonthly salary of $6,100. Computer...
During 2020, Juan Gonzalez, president of Acme Inc. was paid a
semimonthly salary of $6,100. Computer the amount of FICA taxes
that should be withheld from him.
A. 9th paycheck
B. 22nd paycheck
C. 24th paycheck
D. If Juan's year to date earnings as of his 24th paycheck are
$146,400 and his year-end bonus is $100,00, how much is the
additional HI tax withheld?
During 20--, Matti Conner, president of Acme Inc. was paid a semimonthly salary of $6,100. Computer the amount of FICA taxes that should be withheld from her.
Rate Wage BaseMaximum TaxEmployee and Employer OASDI: 6.20% $132,900
$8,239.80Employee* and Employer HI: 1.45%. No limit No
maximumDuring 20--, Matti Conner, president of Acme Inc. was paid a
semimonthly salary of $6,100. Computer the amount of FICA taxes
that should be withheld from her.
OASDI HIA. 9th paycheckB. 22nd paycheckC. 24th paycheckD. If Maria's year to date earnings as of her 24th paycheck are
$146,400 and her year-end bonus is $100,00, how much is the
additional HI tax withheld?
Ada Marion earns a salary of $7,500 per month during the year. FICA taxes are 7.65%...
Ada Marion earns a salary of $7,500 per month during the year.
FICA taxes are 7.65% on the first $117,000 of gross earnings.
Federal unemployment insurance taxes are 6.2% of the first $7,000;
however, a credit is allowed equal to the state unemployment
insurance taxes of 5.4% on the $7,000. During the year, $25,600 was
withheld for federal income taxes and $5,700 was withheld for state
income taxes.
question: Determine the cost of employing Grace for the year.
(im not...
Ada Marion earns a salary of $7,500 per month during the year. FICA taxes are 7.65%...
Ada Marion earns a salary of $7,500 per month during the year.
FICA taxes are 7.65% on the first $127,200 of gross earnings.
Federal unemployment insurance taxes are 6.2% of the first $7,000;
however, a credit is allowed equal to the state unemployment
insurance taxes of 5.4% on the $7,000. During the year, $25,600 was
withheld for federal income taxes and $5,700 was withheld for state
income taxes.
Prepare a journal entry summarizing the payment of Ada’s total
salary during...
During 20X1 Beth earned a salary of $150,000. In 20X1, she invested $40,000 for a 20%...
During 20X1 Beth earned a salary of $150,000. In 20X1,
she invested $40,000 for a 20% interest in a Grady Memorial
Hospital, a limited partnership. Beth does not material participate
in this activity. Operations of the activity result in a loss of
$325,000, of which Beth’s share is $65,000. For her 20X1 return,
would Beth be able to deduct any of the loss relating to this
activity? If, so how much?
George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,744....
George Clausen (age 48) is employed by Kline Company and is paid
a salary of $42,744. He has just decided to join the company's
Simple Retirement Account (IRA form) and has a few questions.
Answer the following for Clausen: a. What is the maximum that he
can contribute into this retirement fund? $ b. What would be the
company's contribution? $ c. What would be his weekly take-home pay
if he contributes the maximum allowed retirement contribution
(married, 2 allowances,...
George Clausen (age 48) is employed by Kline Company and is paid an annual salary of...
George Clausen (age 48) is employed by Kline Company and is paid
an annual salary of $42,640. He has just decided to join the
company's Simple Retirement Account (IRA form) and has a few
questions. Answer the following for Clausen: Round your
answer to the nearest cent.
a. What is the maximum that he can contribute
into this retirement fund?
$
b. What would be the company's
contribution?
$
Note: For items c. & d. below, round
interim amounts to...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Suppose a company is looking to hedge a risk in the derivatives market. What, fundamentally, is...
- Training and Development assignment. Describe the usage of Computer Based Training (CBT) in McDonald's Company training...
- PUT IN JAVA PROGRAMMING LANGUAGE The Rectangle class: Design a class named Rectangle to represent a...
- Journal article summary on inter-group conflict Peer Reviewed Journal article from past 3 years. Please include...
- "Ethical Considerations" Please respond to the following: Reflect upon the responsibilities placed on auditors by the...
- A Japanese company has a bond outstanding that sells for 93 percent of its ¥100,000 par...
- What is the difference among the principles of modularization, abstraction, encapsulation, and separation of interface and...
ADVERTISEMENT