Please review and provide a step by step explanation for the problem below and the ansers....
Please review and provide a step by step explanation for the problem below and the ansers.
Summary Payroll Data
In the following summary of data for a payroll period, some amounts have been intentionally omitted. Calculate the amounts omitted below. Enter all your answers as positive amounts.
Earnings:
1. At regular rate ?
2. At overtime rate 83,100
3. Total earnings ?
Deductions: 4. FICA tax $33,240
5. Income tax withheld 141,300
6. Medical insurance 19,100
7. Union dues ?
8. Total deductions $205,000
9. Net amount paid$349,000
Accounts debited:
10. Wages$293,600
11. Sales Salaries ?
12. Office Salaries $110,800
Homework Answers
| (1) | 470900 |
| (3) | 554000 |
| (7) | 11360 |
| (11) | 149600 |
| Workings: | |
| Net amount paid | 349000 |
| Add: Total deductions | 205000 |
| Total earnings | 554000 |
| Total earnings | 554000 |
| Less: At overtime rate | 83100 |
| At regular rate | 470900 |
| Total deductions | 205000 |
| Less: | |
| FICA tax | 33240 |
| Income tax withheld | 141300 |
| Medical insurance | 19100 |
| = Union dues | 11360 |
| Total earnings | 554000 |
| Less: | |
| Wages | 293600 |
| Office Salaries | 110800 |
| = Sales Salaries | 149600 |
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Please review and provide a step by step explanation for the
problem below and the ansers....
Summary Payroll Data In the following summary of data for a payroll period, some amounts have...
Summary Payroll Data In the following summary of data for a payroll period, some amounts have been intentionally omitted. Calculate the amounts omitted below. Enter all your answers as positive amounts. Earnings: 1. At regular rate $ 2. At overtime rate 71,300 3. Total earnings $ Deductions: 4. FICA tax $28,500 5. Income tax withheld 121,200 6. Medical insurance 16,400 7. Union dues 8. Total deductions $176,000 9. Net amount paid $299,000 Accounts debited: 10. Wages $251,800 11. Sales Salaries...
In the following summary of data for a payroll period, some amounts have been intentionally omitted....
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