12% tax ratePhilippines The following are the employees of MICROSOFT CORPORATIONNameMonthly SalaryPositionTax StatusDENISE JOHNSON$ 330,000ManagerMarried, 3 dependentsTaxGrossWHNetName ofPositionStatusPayАХАINGBERKSТаxPayROBERT WILLIAMS$ 200,000ClerkSingle, 1 dependentEmployeeHIRESELENA WAYNE$ 270,000AccountantMarried, 1 dependentBEAVER JONES$ 160,000DriverSingleRequired:a) Fill up the payroll sheets provided for the monththe appropriate tables.b) Make the entries to record the payroll for March.c) Compute for the employers' contribution liabilities.d) Make the entry to record the employer's contribution liabilities.e) Make the entry to record payment of liabilities to the appropriate agencies.f) NOTE: AXA ISNURANCE & ING Contributions are deducted on the 1st half of the monthand BERKSHIRE INSURANCE and Withholding Taxes are deducted on the 2nd half of themonth.March for the current year usingТаxGrossWHNetName ofPositionStatusPayАХАINGBERKSHIREТаxPayEmployeeSchedule of Employers' ContributionsINGBERKSHIREName of EmployeeAXA & ECComputations for withholding tax base:MonthlySalaryINGWHName of EmployeeАХАBERKSHIRETax Base

Payroll taxes: Payroll taxes can be defined as the amount of tax collected from the employer and…

Required: a) Fill up the payroll sheets provided for the month of March for the current year using the appropriate tables. b) Make the entries to record the payroll for March. c) Compute for the employers' contribution liabilities.

Required: a) Fill up the payroll sheets provided for the month of March for the current year using the appropriate tables. b) Make the entries to record the payroll for March. c) Compute for the employers' contribution liabilities.

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter3: Data Visualization

Section: Chapter Questions

Problem 4P: In the file MajorSalary, data have been collected from 111 College of Business graduates on their...

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