How do I do this?Selected information from the payroll register of Howard’s Cutlery for the week ended October 7, 20--, is presented. Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% on gross earnings. FUTA tax is 0.6% and SUTA tax is 5.4% on the first $7,000 of earnings. Instructions1Taxable EarningsCumulative PayUnemployment2Employee NameBefore CurrentCurrent Gross PaySocial SecurityCompensationEarnings3 Carlson, David J.$6,635.00$950.004 Delgado, Luisa6,150.001,215.005 Lewis, Arlene S.54,375.002,415.006 Nixon, Robert R.53,870.001,750.007 Shippe, Lance W.24,830.001,450.008 Watts, Brandon Q.127,000.003,120.00 First QuestionTaxable EarningsEmployee NameCurrent EarningsUnemploy. Comp.Social SecurityCarlson, David J. SDelgado, LuisaLewis, Arlene s.Nixon, Robert R.Shippe, Lance W.Watts, Brandon Q.Total

For each employee, Security tax is applicable on the first $128,400 of earnings. For each employee,…

Selected information from the payroll register of Howard’s Cutlery for the week ended October 7, 20--, is presented. Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% on gross earnings. FUTA tax is 0.6% and SUTA tax is 5.4% on the first $7,000 of earnings.

Selected information from the payroll register of Howard’s Cutlery for the week ended October 7, 20--, is presented. Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% on gross earnings. FUTA tax is 0.6% and SUTA tax is 5.4% on the first $7,000 of earnings.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 1PB: Identify whether each of the following accounts would be considered a permanent account (yes/no) and...

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