Homework Answers
| Gross pay | $12400 | |
| Withholding deductions: | ||
| Employee income tax (12400*15%) | 1860 | |
| Employee OASDI tax (118500-111600)*6.2% | 427.80 | |
| Employee Medicare tax (12400*1.45%) | 179.80 | |
| Employee health insurance | 150 | |
| Employee contribution to United Way (12400*4%) | 496 | |
| Total Withholdings | 3113.60 | |
| Net pay | $9286.40 | |
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Brooke Bennington works for ABC all year and earns a monthly salary of $12,400. There is...
- OTHGI Olivia Bennington works for JMK all year and earns a monthly salary of $12.400....
- OTHGI Olivia Bennington works for JMK all year and earns a monthly salary of $12.400. There is no overtime pay Olivia's income tax withholding rate is 10% of gross pay. In addition to payroll taxes, Olivia elects to contribute 1% monthly to United Way JMK also deducts $150 monthly for co payment of the health insurance premium. As of September 30, Olivia had $111.600 of cumulative earnings (Click the icon to view payroll tax rate information) Read the requirements...
3. Vincent Sanders works for Peterson Company all year and earns a monthly salary of $3,000....
3. Vincent Sanders works for Peterson Company all year and earns a monthly salary of $3,000. There is no overtime pay. Based on Vincent's W-4, Peterson withholds income taxes at 10% of his gross pay. As of July 31, Vincent had $21,000 of cumulative earnings. a (Click the icon to view payroll tax rate information.) Journalize the accrual of salary expense for Peterson Company related to the employment of Vincent Sanders for the month of August. (Record debits first, then...
3. Jackson Phillips works for Peterson Company all year and earns a monthly salary of $4,200....
3. Jackson Phillips works for Peterson Company all year and earns a monthly salary of $4,200. There is no overtime pay. Based on Jackson's W-4, Peterson withholds income taxes at 10% of his gross pay. As of July 31, Jackson had $29,400 of cumulative earnings. (Click the icon to view payroll tax rate information.) Journalize the accrual of salary expense for Peterson Company related to the employment of Jackson Phillips for the month of August. (Record debits first, then credits....
Mr.Ahmed works for Oman Networking company and earns a monthly salary of OMR 2000. There is...
Mr.Ahmed works for Oman Networking company and earns a monthly salary of OMR 2000. There is no overtime pay. Oman Networking withholds incomes taxs at 15% of gross pay. In addition to payroll taxes, Mr. Ahmed elects to contribute 5% monthly to united way. Oman networking also deducts OMR 150 Monthly for co-payment of the health insurance premium. Employee OASDI tax 4.2% and employee medicare 1.45%. Requirements (a) Compute Mr. Ahmed net pay for October. (b) Journalize the accrual of...
3. Vincent Sanders works for Peterson Company all year and earns a monthly salary of $3,000....
3. Vincent Sanders works for Peterson Company all year and earns a monthly salary of $3,000. There is no overtime pay. Based on Vincent's W-4, Peterson withholds income taxes at 10% of his gross pay. As of July 31, Vincent had $21,000 of cumulative earnings. (Click the icon to view payroll tax rate information.) Journalize the accrual of salary expense for Peterson Company related to the employment of Vincent Sanders for the month of August. (Record debits first, then credits....
3. Tyler Sanders works for Howard Company all year and earns a month y salary of...
3. Tyler Sanders works for Howard Company all year and earns a month y salary of S4.200. T er e is no o e ime pay Base earnings on T ersw.4 o ard withholds come taxes at 1 %ofhis gross pay. As of uly Ty rhad 29, 40 of cumulative (Click the icon to view payroll tax rate information.) Journalize the accrual of salary expense for Howard Company related to the employment of Tyler Sanders for the month of August....
in al More Info For all payroll calculations, use the following tax rates and round amounts...
in al More Info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% on all earnings; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Print Done Louis Welch is general manager of Moonwalk Salons. During 2018, Welch worked for the company all year...
Stream Company had the following partially completed payroll register: E(Click the icon to view the partial...
Stream Company had the following partially completed payroll register: E(Click the icon to view the partial payroll register.) i (Click the icon to view payroll tax rate information.) Read the requirements Requirement 1. Complete the payroll register. Round to two decimals. (Round all amounts to the nearest cent. Abbreviations used: Beg. = Beginning; Cum. = Cumulative; Earn. Earnings; Exp. Expense; Med. Medicare; Ins. Insurance; With. = Withhold ings; Chk = Check.) Earnings Withholdings Salaries Current Beg. Ending and Cum Cum...
Stream Company had the following partially completed payroll register: E(Click the icon to view the partial...
Stream Company had the following partially completed payroll register: E(Click the icon to view the partial payroll register.) i (Click the icon to view payroll tax rate information.) Read the requirements Requirement 1. Complete the payroll register. Round to two decimals. (Round all amounts to the nearest cent. Abbreviations used: Beg. = Beginning; Cum. = Cumulative; Earn. Earnings; Exp. Expense; Med. Medicare; Ins. Insurance; With. = Withhold ings; Chk = Check.) Earnings Withholdings Salaries Current Beg. Ending and Cum Cum...
Logan White is general manager of Valuepoint Salons. During 2018, White worked Valuepoint incurred payroll tax...
Logan White is general manager of Valuepoint Salons. During 2018, White worked Valuepoint incurred payroll tax expense on White for FICA tax. The company also for the company all year at a $13,600 monthly salary. He also earned a year-end paid state unemployment tax and federal unemployment tax. bonus equal to 15% of his annual salary. White's federal income tax withheld (Click the icon to view payroll tax rate information.) during 2018 was $1,360 per month, plus $4,876 on his...
- OTHGI Olivia Bennington works for JMK all year and earns a monthly salary of $12.400. There is no overtime pay Olivia's income tax withholding rate is 10% of gross pay. In addition to payroll taxes, Olivia elects to contribute 1% monthly to United Way JMK also deducts $150 monthly for co payment of the health insurance premium. As of September 30, Olivia had $111.600 of cumulative earnings (Click the icon to view payroll tax rate information) Read the requirements...
3. Vincent Sanders works for Peterson Company all year and earns a monthly salary of $3,000. There is no overtime pay. Based on Vincent's W-4, Peterson withholds income taxes at 10% of his gross pay. As of July 31, Vincent had $21,000 of cumulative earnings. a (Click the icon to view payroll tax rate information.) Journalize the accrual of salary expense for Peterson Company related to the employment of Vincent Sanders for the month of August. (Record debits first, then...
3. Jackson Phillips works for Peterson Company all year and earns a monthly salary of $4,200. There is no overtime pay. Based on Jackson's W-4, Peterson withholds income taxes at 10% of his gross pay. As of July 31, Jackson had $29,400 of cumulative earnings. (Click the icon to view payroll tax rate information.) Journalize the accrual of salary expense for Peterson Company related to the employment of Jackson Phillips for the month of August. (Record debits first, then credits....
3. Vincent Sanders works for Peterson Company all year and earns a monthly salary of $3,000. There is no overtime pay. Based on Vincent's W-4, Peterson withholds income taxes at 10% of his gross pay. As of July 31, Vincent had $21,000 of cumulative earnings. (Click the icon to view payroll tax rate information.) Journalize the accrual of salary expense for Peterson Company related to the employment of Vincent Sanders for the month of August. (Record debits first, then credits....
3. Tyler Sanders works for Howard Company all year and earns a month y salary of S4.200. T er e is no o e ime pay Base earnings on T ersw.4 o ard withholds come taxes at 1 %ofhis gross pay. As of uly Ty rhad 29, 40 of cumulative (Click the icon to view payroll tax rate information.) Journalize the accrual of salary expense for Howard Company related to the employment of Tyler Sanders for the month of August....
in al More Info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% on all earnings; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Print Done Louis Welch is general manager of Moonwalk Salons. During 2018, Welch worked for the company all year...
Stream Company had the following partially completed payroll register: E(Click the icon to view the partial payroll register.) i (Click the icon to view payroll tax rate information.) Read the requirements Requirement 1. Complete the payroll register. Round to two decimals. (Round all amounts to the nearest cent. Abbreviations used: Beg. = Beginning; Cum. = Cumulative; Earn. Earnings; Exp. Expense; Med. Medicare; Ins. Insurance; With. = Withhold ings; Chk = Check.) Earnings Withholdings Salaries Current Beg. Ending and Cum Cum...
Stream Company had the following partially completed payroll register: E(Click the icon to view the partial payroll register.) i (Click the icon to view payroll tax rate information.) Read the requirements Requirement 1. Complete the payroll register. Round to two decimals. (Round all amounts to the nearest cent. Abbreviations used: Beg. = Beginning; Cum. = Cumulative; Earn. Earnings; Exp. Expense; Med. Medicare; Ins. Insurance; With. = Withhold ings; Chk = Check.) Earnings Withholdings Salaries Current Beg. Ending and Cum Cum...
Logan White is general manager of Valuepoint Salons. During 2018, White worked Valuepoint incurred payroll tax expense on White for FICA tax. The company also for the company all year at a $13,600 monthly salary. He also earned a year-end paid state unemployment tax and federal unemployment tax. bonus equal to 15% of his annual salary. White's federal income tax withheld (Click the icon to view payroll tax rate information.) during 2018 was $1,360 per month, plus $4,876 on his...
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