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Business, 19.11.2019 07:31 ahmed5774

Paloma co. has four employees. fica social security taxes are 6.2% of the first $127,200 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 3.5% and suta taxes are 2.5%. 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. current week name gross pay through aug. 18 gross pay income tax withholding dali $ 126,100 $ 2,000 $ 284 trey 126,300 900 145 kiesha 6,900 450 39 chee 1,250 400 30 in addition to gross pay, the company must pay two-thirds of the $60 per employee weekly health insurance; each employee pays the remaining one-third. 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.

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Paloma co. has four employees. fica social security taxes are 6.2% of the first $127,200 paid to eac...
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