Ehrlich Co. began business on January 2, 20Y8. Salaries were
paid to employees on the last day of each month, and social
security tax, Medicare tax, and federal income tax were withheld in
the required amounts. An employee who is hired in the middle of the
month receives half the monthly salary for that month. All
required payroll tax reports were filed, and the correct
amount of payroll taxes was remitted by the company for the
calendar year. Early in 20Y9, before the Wage and Tax Statements
(Form W-2) could be prepared for distribution to employees and for
filing with the Social Security Administration, the employees'
earnings records were inadvertently destroyed.
None of the employees resigned or were discharged during the
year, and there were no changes in salary rates. The social
security tax was withheld at the rate of 6.0% and Medicare tax at
the rate of 1.5%. Data on dates of employment, salary rates, and
employees’ income taxes withheld, which are summarized as follows,
were obtained from personnel records and payroll records:
Required:
1. Calculate the amounts to be reported
on each employee's Wage and Tax Statement (Form W-2) for 20Y8.
Note: Round amounts to the nearest whole dollar and
enter all amounts as positive values.
- Wage And Tax Statement Data On Employer Fica Tax Ehrlich Co Began Business On January 2 20y8 Salaries Were Paid To Em 1 (58.32 KiB) Viewed 44 times