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Marlene Grady and Pauline Monroe are partners engaged in operating The G&M Doll Shop, which has employed the following persons since the beginning of the year: V. Hoffman (general office worker). A. Drugan (saleswoman). G. Beiter (stock clerk).. S. Egan (deliveryman).. B. Lin (cleaning and maintenance, part-time) $1,700 per month $15,000 per year $180 per week $220 per week $160 per week Grady and Monroe are each paid a weekly salary allowance of $950. The doll shop is located in a state that requires unemployment compensation contributions of employers of one or more individuals. The company is subject to state contributions at a rate of 3.1% for wages not in excess of $8,100. Compute cach of the following amounts based upon the 41st weekly payroll period for the week ending October 11: a. Amount of FICA taxes (OASDI and HI) to be withheld from the earnings of each person. (Refer to Chapter 3.) OASDI HI 2$ M. Grady P. Monroe.. V. Hoffman A. Drugan G. Beiter. S. Egan. В. Lin ......... b. Amount of the employer's FICA taxes for the weekly payroll. c. Amount of state unemployment contributions for the weekly payroll.. d. Amount of the net FUTA tax on the payroll. e. Total amount of the employer's payroll taxes for the weekly payroll.

Marlene Grady and Pauline Monroe are partners engaged in operating The G&M Doll Shop, which has employed the following persons since the beginning of the year: V. Hoffman (general office worker). A. Drugan (saleswoman). G. Beiter (stock clerk).. S. Egan (deliveryman).. B. Lin (cleaning and maintenance, part-time) $1,700 per month $15,000 per year $180 per week $220 per week $160 per week Grady and Monroe are each paid a weekly salary allowance of $950. The doll shop is located in a state that requires unemployment compensation contributions of employers of one or more individuals. The company is subject to state contributions at a rate of 3.1% for wages not in excess of $8,100. Compute cach of the following amounts based upon the 41st weekly payroll period for the week ending October 11: a. Amount of FICA taxes (OASDI and HI) to be withheld from the earnings of each person. (Refer to Chapter 3.) OASDI HI 2$ M. Grady P. Monroe.. V. Hoffman A. Drugan G. Beiter. S. Egan. В. Lin ......... b. Amount of the employer's FICA taxes for the weekly payroll. c. Amount of state unemployment contributions for the weekly payroll.. d. Amount of the net FUTA tax on the payroll. e. Total amount of the employer's payroll taxes for the weekly payroll.

Accounting
Accounting
27th Edition
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Chapter12: Accounting For Partnerships And Limited Liability Companies
Section: Chapter Questions
Problem 12.3BPR
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5-14A • LO 2, 3, 4 Marlene Grady and Pauline Monroe are partners engaged in operating The G&M Doll Shop, which has employed the following persons since the beginning of the year: See Example 5-8 on page 5-15 V. Hoffman (general office worker). A. Drugan (saleswoman). G. Beiter (stock clerk)... S. Egan (deliveryman). B. Lin (cleaning and maintenance, part-time) . $1,700 per month $15,000 per year $180 per week $220 per week $160 per week Grady and Monroe are each paid a weekly salary allowance of $950. The doll shop is located in a state that requires unemployment compensation contributions of employers of one or more individuals. The company is subject to state contributions at a rate of 3.1% for wages not in excess of $8,100. Compute cach of the following amounts based upon the 41st weekly payroll period for the week ending October 11: a. Amount of FICA taxes (OASDI and HI) to be withheld from the earnings of each person. (Refer to Chapter 3.) OASDI HI 2$ M. Grady. P. Monroe.. V. Hoffman A. Drugan. G. Beiter. S. Egan. В. Lin ..... b. Amount of the employer's FICA taxes for the weekly payroll. c. Amount of state unemployment contributions for the weekly payroll.. d. Amount of the net FUTA tax on the payroll . e. Total amount of the employer's payroll taxes for the weekly payrol.
Transcribed Image Text:5-14A • LO 2, 3, 4 Marlene Grady and Pauline Monroe are partners engaged in operating The G&M Doll Shop, which has employed the following persons since the beginning of the year: See Example 5-8 on page 5-15 V. Hoffman (general office worker). A. Drugan (saleswoman). G. Beiter (stock clerk)... S. Egan (deliveryman). B. Lin (cleaning and maintenance, part-time) . $1,700 per month $15,000 per year $180 per week $220 per week $160 per week Grady and Monroe are each paid a weekly salary allowance of $950. The doll shop is located in a state that requires unemployment compensation contributions of employers of one or more individuals. The company is subject to state contributions at a rate of 3.1% for wages not in excess of $8,100. Compute cach of the following amounts based upon the 41st weekly payroll period for the week ending October 11: a. Amount of FICA taxes (OASDI and HI) to be withheld from the earnings of each person. (Refer to Chapter 3.) OASDI HI 2$ M. Grady. P. Monroe.. V. Hoffman A. Drugan. G. Beiter. S. Egan. В. Lin ..... b. Amount of the employer's FICA taxes for the weekly payroll. c. Amount of state unemployment contributions for the weekly payroll.. d. Amount of the net FUTA tax on the payroll . e. Total amount of the employer's payroll taxes for the weekly payrol.
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