El Arroyo North has 18 employees within Denver City and County. All the employees worked a predominant number of hours within the city. The employees earned $9.40 per hour and worked 160 hours each during the month. The employer must remit $4.00 per month per employee who earns more than $500 per month. Additionally, employees who earn more than $500 per month must have $5,75 withheld from their pay. Required: What are the employee and company Occupational Privilege Tax for the employees of El Arroyo North? Note: Round your answers to 2 decimal places. Category Employee Employer Occupational Privilege Tax

El Arroyo North has 18 employees within Denver City and County. All the employees worked a predominant number of hours within the city. The employees earned $9.40 per hour and worked 160 hours each during the month. The employer must remit $4.00 per month per employee who earns more than $500 per month. Additionally, employees who earn more than $500 per month must have $5,75 withheld from their pay. Required: What are the employee and company Occupational Privilege Tax for the employees of El Arroyo North? Note: Round your answers to 2 decimal places. Category Employee Employer Occupational Privilege Tax

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 1E

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Toren Inc. employs one person to run its solar management company. The employees gross income for the month of May is $6,000. Payroll for the month of May is as follows: FICA Social Security tax rate at 6.2%, FICA Medicare tax rate at 1.45%, federal income tax of $400, state income tax of $75, health-care insurance premium of $200, and union dues of $50. The employee is responsible for covering 30% of his or her health insurance premium. A. Record the journal entry to recognize employee payroll for the month of May, dated May 31, 2017. B. Record remittance of the employees salary with cash on June 1.
Connie Gibbs collected a 2,000 bonus for her departments safety record for the year (52 weeks). During that year, Gibbs worked an average of 44 hours each week. Calculate the extra overtime pay due Gibbs for that year. Extra overtime pay...................................... _______
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please prepare the journal entries 10. Paid $162,000 for salary up to 9th March (Tuesday). All employees work a five-day week and are paid every four weeks on the following Wednesday, based on the number of days they have worked in the last four weeks. Employees are entitled to full pay on public holidays but not on Saturday and Sunday. The employees receive a total salary of $40,500 for a five-day work week. 12. Received payments from Vinga Limited, for the March sales. 13. Acquired $150,000 toy musical instruments by signing a 90-day, 5% notes payable. 16. Queenie Company Limited, a customer, has financial difficulties and unable to pay the outstanding balance of $200,000. The company has a long-term relationship with Queenie, and agreed to accept a 12%, 45-day notes fromthe customer to settle the outstanding balance. 17. Share dividends were distributed. Shareholders on the register of the company on 6 March 2021 are entitled to receive the dividend shares. 21. Paid all dividends…
Problem 6-4A & 6-5A (Algo) [The following information applies to the questions displayed below. Greer Utsey earned $47,900 in 2022 for a company in Kentucky. Greer is single with one dependent under 17 and is paid weekly. The FUTA rate in Kentucky for 2022 is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is 5.4 percent with a wage base of $11,100. Use the percentage method in Appendix C and the state information in Appendix D. Manual payroll system is used and Box 2 is not checked. Problem 6-5A (Algo) Required: Compute the employer's share of the taxes for the third weekly payroll of the year. Note: Do not round intermediate calculation. Round your final answer to decimal places. Federal income tax withholding Social Security tax Medicare tax FUTA tax SUTA tax State income tax withholding
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Problem 3 The Norman Company recently adopted an incentive plan. Factory workers are paid P7.50 per unit with a guaranteed minimum wage of P2,000 per week Following is a report on employees' productivity for the week ending May 19, 2019. All employees worked the full 40-hour week. WEEKLY SUMMARY UNITS PRODUCED 240 EMPLOYEE'S NAME R Cruz J. Briones C. David A. Mendoze 286 275 240 F. Rivera 225 R. Tolentino 285 Required: 1. Compute each employee's gross pay 2. What amount should be charged to work in process? 3. What amount should be charged to factory overhead control?
Computing and recording gross and net pay Hugh Stanley manages a Dairy House drive-in. His straight-time pay is $12 per hour, with time-and-a-half for hours in excess of 40 per week. Stanley’s payroll deductions include withheld income tax of 20%, FICA tax, and a weekly deduction of $5 for a charitable contribution to United Way. Stanley worked 58 hours during the week. Requirements Compute Stanley’s gross pay and net pay for the week. Assume earnings to date are $18,000. Journalize Dairy Houses wages expense accrual for Stanley’s work. An explanation is not required. Journalize the subsequent payment of wages to Stanley.
1. Paid $162,000 for salary up to 9th March (Tuesday). All employees work afive-day week and are paid every four weeks on the following Wednesday,based on the number of days they have worked in the last four weeks.Employees are entitled to full pay on public holidays but not on Saturdayand Sunday. The employees receive a total salary of $40,500 for a five-daywork week. 2. The employees receive a total salary of $40,500 for a five-day work week.All employees worked for the whole month of March. What are the double entries for these two point?
PROBLEM: The Norman Company recently adopted an incentive plan. Factory workers are paid P7.50 per unit with a guaranteed minimum wage of P2,000 per week. Following is a report on employee’s productivity for the week ending May 19, 2019. All employees worked the full 40-hour week. WEEKLY SUMMARY Employee's Name Units ProducedCruz R. Cruz 240 J. Briones 286 C. David 275 A. Mendoze 240 F. Rivera 225 R. Tolentino 285 Required: 1.Compute each employee’s gross pay Work in Process Factory Overhead Control Employee’s Name Units Produced Piece Rate Total Pay Guaranteed Wage Difference (FOC) Total Gross Pay R. Cruz…