Please fill out the empty boxes and show the computations. We are supposed to get the answers at the bottom
Homework Answers
| Employee | YTD Earnings | Rate | Total Hours | FICA SS($137700) 6.20% | FICA Medicare 1.420% | Federal income tax | State income tax 3% | Union Dues | Total Deductions | Net Take-home pay | |||
| Reg Pay | Over Time | Gross pay | |||||||||||
| Brown | $137600 | Exempt | 44 | 2880.00 | - | 2880.00 | 38.96 | 23.07 | 330 | 47.74 | - | 439.77 | 2440.23 |
| Mc Donalds | $1200 | $16 | 49 | 784.00 | - | 784.00 | 43.39 | 25.69 | 102 | 53.17 | 15 | 239.25 | 544.75 |
| Wong | $32500 | $22 | 34 | 748.00 | - | 748.00 | 30.12 | 17.85 | 158 | 36.91 | 25 | 267.88 | 480.12 |
| Totals |
$171300 |
X | 4412 | - | 4412 | 112.47 | 66.61 | 590 | 137.82 | 40 | 946.9 | 3647.15 | |
Add Answer to:
Please fill out the empty boxes and show the computations. We
are supposed to get the...
Please fill the empty boxes and show the computations. We are supposed to get the answers...
Please fill the empty boxes and show the computations. We are
supposed to get the answers at the bottom. Thanks
It's based off of this. I need help with both. I don't
understand how they are getting some of these numbers
4 Gibbs Oil Company Employer's Payroll Taxes For the Week Ending November 26 YTD Earnings Current Earnings FICA SS 6.20% FICA MC FUTA ($7,000 cap) 0.6% SUTA ($7,000 cap) 5,4% Total Payroll Taxes Expense 1.45% Health Ins $80 $40...
How do I fill the rest of this out and do the journal entries Employer's Taxes...
How do I fill the rest of this out and do the journal
entries
Employer's Taxes on 8/25 payroll Taxes 6.2% 0.6% FUTA $7,000 cap 2.15% SUTA $7,000 cap 8% Pension Plan Total Tax Expense MC Pay Employees' Earnings for week ended 8/25 Withholdings (deductions from gross) YTD Federal 3% Earnings Income Tax State $137,700 cap 1.45% Gross Pay With Income FICA FICA Health Name through 8/18 Gross Pay holding Tax SS Insurance Chee $ 204,000 7,000.00 2,100.00 164.50 75.00...
How do I fill out the rest of this table Employer's Taxes on 8/25 payroll Pay...
How do I fill out the rest of this table
Employer's Taxes on 8/25 payroll Pay Taxes 0.6% Net FICA FICA FUTA $7,000 cap 2.15% SUTA $7,000 cap 8% Pension Plan Total Tax Expense Health Insurance 75 МС Name Chee Dali Kiesha Marie Trey YTD Earnings Gross Pay through 8/18 $ 204,000 $ 132,500 $ 54,200 $ 26,508 $ 5,580 Totals Employees' Earnings for week ended 8/25 Withholdings (deductions from gross) Federal 3% 6.2% Income Tax State $137,700 cap 1.45%...
TRUE/FALSE 1. Social Security taxes are levied equally on the employee and the employer. 2. Employee...
TRUE/FALSE 1. Social Security taxes are levied equally on the employee and the employer. 2. Employee benefits costs represent expenses to the employer in addition to the direct costs of salaries and wages. .3. Unearned revenues are classified as current liabilities 4. Each time a payroll is recorded, a separate journal entry usually is made to record the employer's FICA and state and federal unemployment taxes. 5. Since Jon Company has very little employee turnover, the company has received a...
I have answered majority of the questions (please correct me if I am wrong) but I...
I have answered majority of the questions (please correct me if
I am wrong) but I just need help on requirement 5 please!
Lenny Worthington is general manager of United Salons. During 2018, Worthington worked for the company all year at a $13,200 monthly salary. He also earned a year-end bonus equal to 5% of his annual salary. Worthington's federal income tax withheld during 2018 was $1.980 per month, plus United incurred payroll tax expense on Worthington for FICA tax....
I need help on the following 2 questions. can someone help me out? Serial Problem Business...
I
need help on the following 2 questions. can someone help me out?
Serial Problem Business Solutions LO P2, P3, C2 Following are some transactions and events of Business Solutions, Feb. 26 The company paid cash to Lyn Addie for eight days' work at $130 per day. Mar. 25 The company sold merchandise with a $2,012 cost for $2,800 on credit to Wildcat Services, invoice dated March 25. Book Required: 1. Assume that Lyn Addie is an unmarried employee. Her...
Problem 11-03A a-d Vaughn Hardware has four employees who are paid on an hourly basis plus time-a...
Problem 11-03A a-d Vaughn Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15, 2020, are presented below. Employee Ben Abel Rita Hager Jack Never Sue Perez Hours Worked 40 42 Hourly Rate Withholdings Fund $5 $15 16 13 13 60 61 8 46 Abel and Hager are married. They claim 0 and 4 withholding allowances, respectively. The following...
Please fill the empty boxes and show the computations. We are
supposed to get the answers at the bottom. Thanks
It's based off of this. I need help with both. I don't
understand how they are getting some of these numbers
4 Gibbs Oil Company Employer's Payroll Taxes For the Week Ending November 26 YTD Earnings Current Earnings FICA SS 6.20% FICA MC FUTA ($7,000 cap) 0.6% SUTA ($7,000 cap) 5,4% Total Payroll Taxes Expense 1.45% Health Ins $80 $40...
How do I fill the rest of this out and do the journal
entries
Employer's Taxes on 8/25 payroll Taxes 6.2% 0.6% FUTA $7,000 cap 2.15% SUTA $7,000 cap 8% Pension Plan Total Tax Expense MC Pay Employees' Earnings for week ended 8/25 Withholdings (deductions from gross) YTD Federal 3% Earnings Income Tax State $137,700 cap 1.45% Gross Pay With Income FICA FICA Health Name through 8/18 Gross Pay holding Tax SS Insurance Chee $ 204,000 7,000.00 2,100.00 164.50 75.00...
How do I fill out the rest of this table
Employer's Taxes on 8/25 payroll Pay Taxes 0.6% Net FICA FICA FUTA $7,000 cap 2.15% SUTA $7,000 cap 8% Pension Plan Total Tax Expense Health Insurance 75 МС Name Chee Dali Kiesha Marie Trey YTD Earnings Gross Pay through 8/18 $ 204,000 $ 132,500 $ 54,200 $ 26,508 $ 5,580 Totals Employees' Earnings for week ended 8/25 Withholdings (deductions from gross) Federal 3% 6.2% Income Tax State $137,700 cap 1.45%...
TRUE/FALSE 1. Social Security taxes are levied equally on the employee and the employer. 2. Employee benefits costs represent expenses to the employer in addition to the direct costs of salaries and wages. .3. Unearned revenues are classified as current liabilities 4. Each time a payroll is recorded, a separate journal entry usually is made to record the employer's FICA and state and federal unemployment taxes. 5. Since Jon Company has very little employee turnover, the company has received a...
I have answered majority of the questions (please correct me if
I am wrong) but I just need help on requirement 5 please!
Lenny Worthington is general manager of United Salons. During 2018, Worthington worked for the company all year at a $13,200 monthly salary. He also earned a year-end bonus equal to 5% of his annual salary. Worthington's federal income tax withheld during 2018 was $1.980 per month, plus United incurred payroll tax expense on Worthington for FICA tax....
I
need help on the following 2 questions. can someone help me out?
Serial Problem Business Solutions LO P2, P3, C2 Following are some transactions and events of Business Solutions, Feb. 26 The company paid cash to Lyn Addie for eight days' work at $130 per day. Mar. 25 The company sold merchandise with a $2,012 cost for $2,800 on credit to Wildcat Services, invoice dated March 25. Book Required: 1. Assume that Lyn Addie is an unmarried employee. Her...
Problem 11-03A a-d Vaughn Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15, 2020, are presented below. Employee Ben Abel Rita Hager Jack Never Sue Perez Hours Worked 40 42 Hourly Rate Withholdings Fund $5 $15 16 13 13 60 61 8 46 Abel and Hager are married. They claim 0 and 4 withholding allowances, respectively. The following...
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