Question :
11) In December 2011, Homer Simpson worked for Springfield Power : 1253336
11) In December 2011, Homer Simpson worked for Springfield Power and earned $5,000. Federal income tax withholding is 15%. The FICA rate is 6.2% and the Medicare tax is 1.45%. What is Homer’s gross pay?
A) $5,000
B) $4,250
C) $3,940
D) $3,867.50
12) In December 2011, Homer Simpson worked for Springfield Power and earned $5,000. Federal income tax withholding is 15%. The FICA rate is 6.2% and the Medicare tax is 1.45%. What is Homer’s net pay?
A) $5,000
B) $4,250
C) $3,940
D) $3,867.50
13) In December 2011, Homer Simpson worked for Springfield Power and earned $5,000. Federal income tax withholding is 15%. The FICA rate is 6.2% and the Medicare tax is 1.45%. How much of Homer’s December salary will be included in Salary expense on Springfield Power’s income statement for the year ended December 31, 2011?
A) $5,000
B) $4,250
C) $3,940
D) $3,867.50
14) In December 2011, Homer Simpson worked for Springfield Power and earned $5,000. Federal income tax withholding is 15%. The FICA rate is 6.2% and the Medicare tax is 1.45%. How much payroll tax expense will Springfield Power record when it pays these taxes?
A) $750
B) $382.50
C) $1,132.50
D) $765
15) In December 2011, Homer Simpson worked for Springfield Power and earned $5,000. Federal income tax withholding is 15%. The FICA rate is 6.2% and the Medicare tax is 1.45%. How much cash will Springfield Power pay the government for FICA because of Homer’s December earnings?
A) $750
B) $382.50
C) $620
D) $310
16) In December 2011, Homer Simpson worked for Springfield Power and earned $5,000. Federal income tax withholding is 15%. The FICA rate is 6.2% and the Medicare tax is 1.45%. How much cash will Springfield Power pay the government for Medicare tax because of Homer’s December earnings?
A) $72.50
B) $145
C) $620
D) $310
17) In December 2010, Bob Cratchit worked for Scrooge & Marley and earned $1,000. Federal income tax withholding is 10%. The FICA rate is 6.2% and the Medicare tax is 1.45%. What is Bob’s gross pay?
A) $1,000
B) $823.50
C) $900
D) $923.50
18) In December 2010, Bob Cratchit worked for Scrooge & Marley and earned $1,000. Federal income tax withholding is 10%. The FICA rate is 6.2% and the Medicare tax is 1.45%. What is Bob’s net pay?
A) $1,000
B) $823.50
C) $900
D) $923.50
19) In December 2010, Bob Cratchit worked for Scrooge & Marley and earned $1,000. Federal income tax withholding is 10%. The FICA rate is 6.2% and the Medicare tax is 1.45%. How much payroll tax expense for Bob’s December salary will be reported on Scrooge & Marley’s income statement for the year ended December 31, 2010?
A) $76.50
B) $176.50
C) $153.00
D) $306.00
20) In December 2010, Bob Cratchit worked for Scrooge & Marley and earned $1,000. Federal income tax withholding is 10%. The FICA rate is 6.2% and the Medicare tax is 1.45%. How much of Bob’s December salary will be included in Salary expense on Scrooge & Marley’s income statement for the year ended December 31, 2010?
A) $1,000
B) $823.50
C) $900
D) $923.50
