The following is the monthly payroll for the last three

The following is the monthly payroll for the last three

The following is the monthly payroll for the last three months of the year for Turner's Sporting
Goods Shop, 2 Boat Road, Lynn, Massachusetts 01945. The shop is a sole proprietorship
owned and operated by Bill Turner. The EIN for Turner's Sporting Goods Shop is 28-9311893.
The employees at Turner's are paid once each month on the last day of the month. Amber
Bixby is the only employee who has contributed the maximum into Social Security. None of the
other employees will reach the Social Security wage base limit by the end of the year. Assume
the rate for Social Security to be 6.2% with a wage base maximum of $117,000, and the rate for
Medicare to be 1.45% on all earnings. Turner's is classified as a monthly depositor for Form 941
payroll tax deposit purposes.
Your tasks are to do the following:
1. Compute the December OASDI tax for Amber Bixby.
2. Journalize the entries to record the employer's payroll tax expense for each period in the
general journal. SUTA rate: 5.7%; FUTA rate: 0.6%.
3. Journalize the payment of each tax liability in the general journal.
4. Complete Form 941 for the fourth quarter of the current year

The following is the monthly payroll for the last three

SOLUTION-- http://solutiondone.online/downloads/the-following-is-the-monthly-payroll-for-the-
last-three/

Unlock answers here solutiondone.online