Please answer all sections. I will thumbs you up thank you!!! ...
50.1K
Verified Solution
Question
Accounting
Please answer all sections. I will thumbs you up thank you!!!
Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1,45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5,4%. The company is preparing its payroll calculations for the week ended August 25 . Payroll records show the following information for the company's four employees. In addition to gross pay, the company must pay one-half of the $84 per employee weekly health insurance; each employee pays the remaining one-half, The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Compute the following for the week ended August 25. Note: Round your intermediate calculations and final answers to 2 decimal places. 2) Employees' FICA Withholdings for Medicare \begin{tabular}{|l|l|l|l|} \hline Employee & \multicolumn{1}{|c|}{ Earnings } \\ & Subject to Tax & Tax Rate & Tax Amount \\ \hline Tax Rate & & & \\ \hline Dali & & & \\ \hline Trey & & & \\ \hline Kiesha & & & \\ \hline Chee & & & \\ \hline & & \\ \hline \end{tabular} 3) Employer's FICA Taxes for Social Security \begin{tabular}{|l|l|l|l|} \hline Employee & EarningsSubjecttoTax & Tax Rate & Tax Amount \\ \hline Tax Rate & & & \\ \hline Dali & & & \\ \hline Trey & & & \\ \hline Kiesha & & & \\ \hline Chee & & & \\ \hline & & Total & \\ \hline \end{tabular} 4) Employer's FICA Taxes for Medicare \begin{tabular}{|l|l|l|l|} \hline Employee & EarningsSubjecttoTax & Tax Rate & Tax Amount \\ \hline Tax Rate & & & \\ \hline Dali & & & \\ \hline Trey & & & \\ \hline Kiesha & & & \\ \hline Chee & & & \\ \hline & & & \\ \hline \end{tabular} 5) Employer's FUTA Taxes \begin{tabular}{|l|l|l|l|} \hline Employee & EarningsSubjecttoTax & Tax Rate & Tax Amount \\ \hline Tax Rate & & & \\ \hline Dali & & & \\ \hline Trey & & & \\ \hline Kiesha & & & \\ \hline Chee & & & \\ \hline & & Total & \\ \hline \end{tabular} 6) Employer's SUTA Taxes \begin{tabular}{|l|l|l|l|} \hline Employee & EarningsSubjecttoTax & Tax Rate & Tax Amount \\ \hline Tax Rate & & & \\ \hline Dali & & & \\ \hline Trey & & & \\ \hline Kiesha & & \\ \hline Chee & & \\ \hline & & Total \\ \hline \end{tabular} 7) Each Employee's Net (take-home) Pay 7) Each Employee's Net (take-home) Pay 8) Employer's Total Payroll-Related Expense for Each Employee
Please answer all sections. I will thumbs you up thank you!!!





Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.