The information on earnings and deductions for the pay period ended December 14 from King Company’s payroll records is as follows:
Beginning | ||
Cumulative | ||
Name | Gross Pay | Earnings |
Burgess, J. L. | $410 | $6,750 |
Clayton, M. E. | 785 | 40,200 |
Drugden, T. F. | 860 | 38,500 |
Lui, L. W. | 990 | 39,700 |
Sparks, C. R. | 4,094 | 115,700 |
Stevers, D. H. | 850 | 6,810 |
For each employee, the Social Security tax is 6.2 percent of the first $118,500 and the employer’s Social Security tax is 6.2 percent on the same earnings limit. The Medicare tax is 1.45 percent on all earnings. The federal unemployment tax rate is 0.6 percent of the first $7,000 of earnings of each employee. The state unemployment tax rate is 5.4 percent of the same base.
Required:
Determine the total taxable earnings for unemployment, Social Security, and Medicare. If an amount is zero, enter “0”.
NAME |
BEGINNING CUMULATIVE EARNINGS |
TOTAL EARNINGS |
ENDING CUMULATIVE EARNINGS |
TAXABLE EARNINGS | ||
UNEMPLOY- MENT |
SOCIAL SECURITY |
MEDICARE |
||||
Burgess, J. L. | fill in the blank c0561bfc801c06b_1 | fill in the blank c0561bfc801c06b_2 | fill in the blank c0561bfc801c06b_3 | fill in the blank c0561bfc801c06b_4 | fill in the blank c0561bfc801c06b_5 | fill in the blank c0561bfc801c06b_6 |
Clayton, M. E. | fill in the blank c0561bfc801c06b_7 | fill in the blank c0561bfc801c06b_8 | fill in the blank c0561bfc801c06b_9 | fill in the blank c0561bfc801c06b_10 | fill in the blank c0561bfc801c06b_11 | fill in the blank c0561bfc801c06b_12 |
Drugden, T. F. | fill in the blank c0561bfc801c06b_13 | fill in the blank c0561bfc801c06b_14 | fill in the blank c0561bfc801c06b_15 | fill in the blank c0561bfc801c06b_16 | fill in the blank c0561bfc801c06b_17 | fill in the blank c0561bfc801c06b_18 |
Lui, L. W. | fill in the blank c0561bfc801c06b_19 | fill in the blank c0561bfc801c06b_20 | fill in the blank c0561bfc801c06b_21 | fill in the blank c0561bfc801c06b_22 | fill in the blank c0561bfc801c06b_23 | fill in the blank c0561bfc801c06b_24 |
Sparks, C. R. | fill in the blank c0561bfc801c06b_25 | fill in the blank c0561bfc801c06b_26 | fill in the blank c0561bfc801c06b_27 | fill in the blank c0561bfc801c06b_28 | fill in the blank c0561bfc801c06b_29 | fill in the blank c0561bfc801c06b_30 |
Stevers, D. H. | fill in the blank c0561bfc801c06b_31 | fill in the blank c0561bfc801c06b_32 | fill in the blank c0561bfc801c06b_33 | fill in the blank c0561bfc801c06b_34 | fill in the blank c0561bfc801c06b_35 | fill in the blank c0561bfc801c06b_36 |
Total | fill in the blank c0561bfc801c06b_37 | fill in the blank c0561bfc801c06b_38 | fill in the blank c0561bfc801c06b_39 | fill in the blank c0561bfc801c06b_40 | fill in the blank c0561bfc801c06b_41 | fill in the blank c0561bfc801c06b_42 |
