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  3. for all payroll calculations, use the following ta

For all payroll calculations, use the following tax rates and round amounts to the nearest...

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Accounting

imageimage For all payroll calculations, use the following tax rates and round amounts to the nearest cent. Employee: OASDI: 6.2% on first $117,000 earned; Medicare: 1.45% up to $200,000,2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $117,000 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Nicole Zern works for CCC all year and earns a monthly salary of $15,000. There is no overtime pay. Nicole has a federal witholding rate on gross pay of 20%. In addition to payroll taxes, Nicole elects to contribute 4% monthly to the United Way. CCC also deducts $140 monthly for co-payment for a health insurance premium. As of September 30, Nicole had $102,800 of cummulative earnings. 1. Compute Nicole's net pay for the month. 2. Journalize the accrual of salaries expense and the payments related to the employment of Nicole Zern. the payments related to the employment of Nicole Zern

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