FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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1:Paul Robinson's filing status is married filing jointly, and he has earned gross pay of $2,650. Each period he makes a 403(b) contribution of 8% of gross pay . His current year taxable earnings for Medicare tax, to date, are $274,000.
Total Medicare Tax = $
2:Stephen Belcher's filing status is single, and he has earned gross pay of $1,840. Each period he makes a 401(k) contribution of 6% of gross pay and contributes 3% of gross pay to a dependent care flexible spending plan. His current year taxable earnings for Medicare tax, to date, are $198,950.
Total Medicare Tax = $
3:Sidney Black's filing status is head of household, and he has earned gross pay of $970. Each period he contributes $50 to a flexible spending plan. His current year taxable earnings for Medicare tax, to date, are $86,400.
Total Medicare Tax = $
4:Bill Clay's filing status is married filing separately, and he has earned gross pay of $1,900. Each period he makes a 403(b) contribution of 10% of gross pay and contributes $75 to a cafeteria plan. His current year taxable earnings for Medicare tax, to date, are $199,600.
Total Medicare Tax = $
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