Charles Williams owns Lake Shore Collectibles, a small shop with three employees. For one payroll period the total withholding tax for all employees was $1728. The total employee's Social Security tax was $447, and the total employer's Social Security tax was $650. The total employee's Medicare tax was $154. How much tax must Charles deposit as the employer's share of Social Security tax and Medicare tax? What is the total tax that must be deposited?
A) Employer's share of Social Security and Medicare tax = $650 Employer's tax deposit = $1405
B) Employer's share of Social Security and Medicare tax = $650 Employer's tax deposit = $3133
C) Employer's share of Social Security and Medicare tax = $804 Employer's tax deposit = $2979
D) Employer's share of Social Security and Medicare tax = $804 Employer's tax deposit = $3133
Correct Answer:
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