Matty Kim, an accountant for Vernitron, earned $120,900 from January to June. Matty earned $20,000. Assume a tax rate of 6.2% for Social Security on $128,400 and 1.45 on Medicare. How much are the July taxes for Social Security and Medicare? Social Security Medicare

Matty Kim, an accountant for Vernitron, earned $120,900 from January to June. Matty earned $20,000. Assume a tax rate of 6.2% for Social Security on $128,400 and 1.45 on Medicare. How much are the July taxes for Social Security and Medicare? Social Security Medicare

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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