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Kip Bowman is owner and sole employee of KB Corporation

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solution


Question

Kip Bowman is owner and sole employee of KB Corporation;Kip Bowman is owner and sole employee of KB Corporation. He pays himself a salary of $1,500 each week.;Additional Tax Information includes;FICA tax -OASDI 6.2% on first 113,700;FICA tax - HI 1.45% total pay;FIT - 232 per pay;SIT -22% of federal income tax withholding;FUTA - 0.6% on first 7,000;SUTA - 0.05% on first $14,000;Additional payroll deductions include;401(k) - 3% per pay;Child Sup. Garnish - 100 per pay;Health Insurance Prem. - 95 per pay;Record the payroll entry and payroll tax entry for the pay of the week ended June 6 (his year-to-date pay is $31,500).

 

Paper#28571 | Written in 18-Jul-2015

Price : $27
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