Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ken gorman is a maitre d' at carmel dinner club. o

Ken Gorman is a maitre d' at Carmel Dinner Club. On February 1, 20-- his...

80.2K

Verified Solution

Question

Accounting

Ken Gorman is a maitre d' at Carmel Dinner Club. On February 1, 20-- his gross pay was $840 (three days working, one paid vacation day, and one paid sick day). He also reported to his employer tips of $1,080 for the previous month (applicable taxes to be deducted out of this pay). Gorman belongs to the company's 401(k) plan and has 5% of his gross pay ($840) deducted each week (salary reduction). Carmel Dinner Club also provides a matching contribution ($42) into the plan for Gorman. Compute the following amounts:

a. Deduction for OASDI tax $fill in the blank 1
b. Deduction for HI tax $fill in the blank 2

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

part a- what are the three physiological processes of urine in the kidneys? describe each process. part...

Medical Sciences
Q

D. Describe the characteristics and function(s) of a bundle of alveoli. E. How does the diaphragm contribute...

Biology
Q

Write an 8051-assembly language program for the interfacing of ADC0804 and LM35 to display the room...

Physics
Q

The team played 32 games this season The ratio of wins to losses was three...

Algebra
Q

hinkBook 15 Pow... Amanda Company accumulates the following data...

Accounting
Q

What are the key challenges in ensuring tax compliance for businesses? How do tax authorities...

Accounting
Q

I need help creating a flowchart for the revenue cycle of an average and simple...

Accounting
Q

Patrick Inc. makes industrial solvents. Planned production in units for the first three months of...

Accounting
Q

En cul de las siguientes situaciones puede ser apropiado que un contribuyente casado que presenta...

Accounting
Q

how the MYOB software can contribute to the various kinds of business management decision-making through...

Accounting
Q

On January 1, 2020 Cars A Us sold a fleet of cars to a car...

Accounting
Q

S10-1 (Learning Objective 1: Explain advantages and disadvantages of a corporation) What are two main...

Accounting