Answered: OASDI HI a. 9th…

Business

Accounting

OASDI HI a. 9th paycheck

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter3: Social Security Taxes

Section: Chapter Questions

Problem 3SSQ

See similar textbooks

Related questions

Q: Jack, an employee of Desert Sky, Inc., has gross salary for May of $18,000. The entire amount is…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of…

A: Note: The OASDI tax wage limit for 2021 is $142,800.

Q: Dan Smith receives an hourly wage rate of $30. If Dan worked 48 hours for the current week and the…

A: The answer for the multiple choice question and the relevant working is given hereunder :

Q: During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Ralph Henwood was paid a salary of $83,600 during 20-- by Odesto Company. In addition, during the…

A: a.

Q: Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00…

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: Doug, an employee of Cayman Travels, Inc., has gross salary for March of $4,000. The entire amount…

A: The journal entry to record payroll taxes is:

Q: In 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid…

A: Social Security(OASDI) program limits the wage amounts of earnings subject to taxation for a given…

Q: In 20-- the annual salaries paid each of the officers of Perez, Inc., follow. The officers are paid…

A: FICA tax: FICA tax refers to the Federal Insurance Contribution Act tax which is Country U law…

Q: George's Gameroom had two employees with the following earnings information: Gross Earnings for Week…

A: Social security tax is the one which is applicable on the payment of wages.

Q: Compute the following: a. The amount of FICA taxes that was withheld from his earnings during 20--…

A: Tax refers to the amount charged by the government on individuals, partnership firms, HUF’s or any…

Q: In 20-, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid…

A: FICA taxes: This is the taxes which are charged on employers and employees by federal government…

Q: In 20-- the annual salaries paid each of the officers of Perez, Inc., follow. The officers are paid…

A: OASDI taxable is defined as the wages which are the earnings that are subject to the tax, also…

Q: Susan Corbin's regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in…

A: Total pay to the employee is a total pay less total deduction. We can formulate it as, Gross earning…

Q: Shakera earns £45,000 p.a. as a graphic designer for Commercial Ltd, which prepares accounts to…

A: Ans. Salary income for tax year 2020/21 = £ 45,000 Bonus received for tax year 2020/21 = £ 8,000 (1…

Q: OASDI HI a. 9th paycheck $fill in the blank 1 $fill in the blank 2 b. 18th paycheck $fill in…

A: FICA taxes: Federal Government impose tax on employers and employees in order to fund the general…

Q: is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay…

A: Normal Pay $20×40 =$800 Over time pay $30×10…

Q: Christine Erickson is the payroll accountant for Multi Winds Energy of Lincoln, Nebraska. The…

A: Here discuss about the details of the payment of net pay which are incurred to the employees after…

Q: Jane Heinlein is the payroll accountant for Sia Lights of Carter, Nebraska. The employees of Sia…

A: Net pay:The amount of pay employee gets in hand after making various deductions is known as the net…

Q: Jess Dimaunahan is a full-time and regular employee of ABC Corporation. The following items were…

A: Jess Dimaunahan is full time and regular employee of ABC corporation. Salary = 360000 Overtime pay =…

Q: In January, the payroll supervisor determines that gross earnings for Sandhill Company are $108,000.…

A: Social Security tax = Gross Earnings x Social Security tax rate = $108000*6.20% = $6,696 Medicare…

Q: Portia Grant is an employee who is paid monthly For the month of January of the current year, she…

A: The answer is stated below:

Q: During 20--, Rachel Pakistan, president of Matson Company, was paid a semimonthly salary of 8000.…

A: Calculation OASDI HI a. 9th paycheck 496.00 116.00 b. 17th paycheck 303.80 116.00 c. 24th…

Q: Mike Mays is a waiter at the Dixie Motel. In his first weekly pay in March, he earned $360 for the…

A: Payroll accounting is one of accounting system which is used by business entities to record the…

Q: Sue earned $56,000 working for an employer in the current year. The current rate for Social Security…

A: Note: FICA taxes include the social security tax and the Medicare tax. Social Security tax = Gross…

Q: Justin Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned…

A: Here to calculate the federal income withhold taxes, social security tax, Medicare and state income…

Q: Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00…

A: In this question, federal income tax year didn't mentioned. I am assuming for the year 2019.Note:…

Q: During the first week of February, Gabe Hopen earned $300. Assume that FICA taxes are 7.65 percent…

A: FICA Taxes payable= $300 x 7.65% = $22.95 State unemployment taxes payable= $300 x 5% = $15.00…

Q: November 15 Name and Title Annual Salary OASDI Taxable Earnings OASDI Tax HI Taxable Earnings HI…

A: Computation of taxes to be withheld from each officer's pay on (a) November 15: In 2020, the OASDI…

Q: During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of…

A: In the United States, the Social Security(OASDI) and Medicare tax programs limit the amounts of…

Q: An employee has year-to-date earnings of $115,400. The employee’s gross pay for the next pay period…

A: FICA--OASDI Tax: FICA--OASDI stands for Federal Insurance Contributions Act for Old Age, Survivor…

Q: The employees of Agonnacultis Inc. are paid on a semimonthly basis. Required: Compute the FICA taxes…

A: If the total wages (YTD) paid are in excess of $200,000 then an additional medicare tax rate of 0.9%…

Q: On March 31 AAA Company paid cash to Amal Green at a rate of $140 per day for eight days' work. Amal…

A: Net pay = Gross pay - FICA-Social security taxes - FICA medicare taxes - federal taxes Payroll tax…

Q: Jason's gross pay for the week is $1,900. His yearly pay is under the limit for OASDI. Assume that…

A: When a company records the compensation of its employees, such type of accounting is known as…

Q: In 20-- the annual salaries paid each of the officers of Perez, Inc., follow. The officers are paid…

A: The year 2020 has been considered for the calculations. OSADI taxable wage limit in 2020 = $137,700

Q: An employee works 55 hours (55 - 40 were overtime hours) during a workweek in November of 2020. The…

A: SOLUTION TAXABLE INCOME IS THE MONEY THAT IS EARNED WHICH IS SUBJECTED TO TAXATION BY FEDERAL OR…

Q: Frances Newberry is the payroll accountant for Pack-It Services of Jackson, Arizona. The employees…

A: (1) Employee Name - Glen Riley (2) Advance taken - $ 1,650 (pay back in equal parts of $ 825 in Nov.…

Q: In 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid…

A: FICA tax refers to the Federal Insurance Contribution Act tax which is Country U.S law that creates…

Q: In 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid…

A: OSADI is also known as social security tax social . society contribution to be deducted for each…

Q: In 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid…

A: a. Calculate the FICA taxes to be withheld from each officer’s pay on November 15. Working note…

Q: 1. During 20--, Garr was paid a weekly salary of $2,540. The amount of FICA to be withheld from the…

Q: In 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid…

A: The FICA is the federal law that requires an employer to withhold three separate taxes from the…

Q: An employee has year-to-date earnings of $115,400. The employee’s gross pay for the next pay period…

Q: Martin Jackson receives an hourly wage rate of $15, with time and a half for all hours worked in…

A: Lets understand the basics. Net amount paid is a gross pay less taxes paid. Gross pay = (Norma hour…

Q: In 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid…

A: OASDI taxable wage limit in 2020 = $137,700

Q: Sandra Corbin’s regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in…

A: Gross pay= (regular hours worked *regular rate)+(Overtime hours*Overtime rate) Net pay= Gross Pay-…

Q: a. Cal Ruther, an employer, is subject to FICA taxes but exempt from FUTA and SUTA taxes. During the…

A: Working Notes: 1. FICA Taxes payable-OASDI A/c = ($8500*6.2%) = $527 2. FICA Taxes payable-HI A/c…

Concept explainers

Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.

Question

During 20--, Amanda Hines, president of Dunne Company, was paid a semimonthly salary of $7,100. Compute the amount of FICA taxes that should be withheld from her.

OASDI HI

a. 9th paycheck

b. 19th paycheck

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

During 20--, Matti Conner, president of Maggert Company, was paid a semimonthly salary of $7,800. Compute the amount of FICA taxes that should be withheld from her. Note that Matti files single on her tax return. If an amount is zero, enter "0". OASDI HI a. 9th paycheck $fill in the blank 1 $fill in the blank 2 b. 18th paycheck $fill in the blank 3 $fill in the blank 4 c. 24th paycheck $fill in the blank 5 $fill in the blank 6 d. If Matti Conner's year-to-date earnings as of her 24th paycheck are $187,200 and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld?
During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,700. Compute the amount of FICA taxes that should be withheld from her. a. 9th paycheck b. 18th paycheck c. 24th paycheck d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $184,800, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax on all total earnings
Example 3-1 During 20--, Rachael Lopez, president of Mathieson Company, was paid a semimonthly salary of $9,000. Compute the amount of FICA taxes that should be withheld from her. Note: Rachael's tax return status s single. If an amount is zero, enter "0". a. 9th paycheck b. 17th paycheck c. 22nd paycheck d. If Lopez's year-to-date earnings as of her 24th paycheck are $216,000, and her year-end bonus is $100,000, how much additional 0.9% HI tax would be deducted for the year? $ $ OASDI 558 186 ✓ 0 ✓ $ HI 1,044 ✔
Example 3-1 During 20--, Rachael Lopez, president of Mathieson Company, was paid a semimonthly salary of $9,825. Compute the amount of FICA taxes t Note: Rachael's tax return status is single. If an amount is zero, enter "0". a. 9th paycheck b. 17th paycheck c. 20th paycheck d. If Lopez's year-to-date earnings as of her 24th paycheck are $235,800, and her year-end bonus is $100,000, how much additional 0.9% HI tax would be withheld for the year? Feedback OASDI HI 609.15 142.46 609.15 X 0
During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $8,500. Compute the amount of FICA taxes that should be withheld from her. Note: Rachael's tax return status is single. If an amount is zero, enter "0". OASDI HI a. 9th paycheck $fill in the blank 1 $fill in the blank 2 b. 17th paycheck $fill in the blank 3 $fill in the blank 4 c. 23rd paycheck $fill in the blank 5 $fill in the blank 6 d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $204,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax on all total earnings? $fill in the blank 7
Example 3-1 During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $8,500. Compute the amount of FICA taxes that should be withheld from her. Note: Rachael's tax return status is single. If an amount is zero, enter "0". OASDI HI a. 9th paycheck b. 17th paycheck c. 23rd paycheck d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $204,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax on all total earnings?
Example 3-1 During 20--, Rachael Lopez, president of Mathieson Company, was paid a semimonthly salary of $9,825. Compute the amount of FICA taxes that should be withheld from her. Note: Rachael's tax return status is single. If an amount is zero, enter "0". OASDI a. 9th paycheck b. 17th paycheck c. 20th paycheck d. If Lopez's year-to-date earnings as of her 24th paycheck are $235,800, and her year-end bonus is $100,000, how much additional 0.9% HI tax would be withheld HI 609.15 ✔ 142.46 $
During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $8,000. Compute the amount of FICA taxes that should be withheld from her. Note: Rachael's tax return status is single. If an amount is zero, enter "0". OASDI a. 9th paycheck b. 17th paycheck c. 24th paycheck d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $192,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld? $ 496 ✓ 496 X ✓ $ $ $ HI 116 116 116 828
During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $8,000. Compute the amount of FICA taxes that should be withheld from her. Note: Rachael's tax return status is single. If an amount is zero, enter "0". OASDI HI a. 9th paycheck b. 17th paycheck c. 24th paycheck d. If Rachael Parkin's year-to-date earnings as of her 24th paycheck are $192,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld?
Example 3-1 During 20--, Rachael Lopez, president of Mathieson Company, was paid a semimonthly salary of $7,500. Compute the amount of FICA taxes that should be withheld from her. If an amount is zero, enter "0". a. 9th paycheck b. 20th paycheck c. 23th paycheck d. If Lopez's year-to-date earnings as of her 24th paycheck are $180,000, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax on all total earnings? OASDI 000 465 HI 300 0 108.75
During 20--, Rachel Pakistan, president of Matson Company, was paid a semimonthly salary of 8000. Compute the amount of FICA Texas that should be withheld from her. note Rachel's tax return status is single if any amount is zero enter zero. OASDI HI a. 9th paycheck b. 17th paycheck c. 24th paycheck d. If Rachel Parkson's year to date earnings earnings as her 24th Paycheck are $192000,And her year end bonus is $100,000 how much is the additional 0.9% HI tax witheld ?
In 20--, the annual salaries paid to each of the officers of Perez, Inc., follow. The officers are paid semimonthly on the 15th and the last day of the month. Compute the FICA taxes to be withheld from each officer's pay on (a) November 15 and (b) December 31. If an amount is zero, enter "0". Enter all earnings and taxes to two decimal places. a. Name and Title Perez, Paul, President Donald, Donna, VP Finance Funke, Jack, VP Sales Weis, Al, VP Mfg. Lang, Hope, VP Personnel Lee, Amy, VP Secretary b. Name and Title Perez, Paul, President Donald, Donna, VP Finance Funke, Jack, VP Sales Weis, Al, VP Mfg. Annual Salary $186,000 162,000 76,800 92,400 78,000 52,800 Annual Salary $186,000 162,000 76,800 92,400 OASDI Taxable Earnings $ 17,300 X OASDI Taxable Earnings $ $ November 15 OASDI Tax $ OASDI Tax $ $ December 31 HI Taxable Earnings HI Taxable Earnings $ HI Tax HI Tax