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Marie is a college professor. Her annual salary is $66,000. Gross Monthly Income
$ • Monthly Federal Income Tax (18.7%)
$ Monthly Social Security (FICA) (6.2%)
$ • Monthly Medicare (1.45%)
$ Monthly State Tax (4%)
$ • Monthly Local Tax (0.1%)
$ Total Monthly Deductions
$ Marie's NMI = $​

Respuesta :

jepessoa

Answer:

Marie's NMI = $3,825.25

Explanation:

Gross Monthly Income  = $66,000 / 12 = $5,500 per month (assuming a monthly salary)

the journal entry to record Marie's income would be:

Dr Wages expense 5,500

    Cr Federal income taxes withheld payable 1,028.50

    Cr FICA taxes (OASDI) withheld payable 341

    Cr FICA taxes (Medicare) withheld payable 79.75

    Cr State income taxes withheld payable 220    

    Cr Local income taxes withheld payable 5.50

    Cr Wages payable 3,825.25

Additionally, the company must pay the same amount of FICA taxes than Marie and federal and state unemployment taxes.

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