employees' vacations. When he works in the manufacturing department, he earns $17.75 per hour. Morris earns a $1.50 pay differential for working the sales counter. He worked a total of 38 hours and 38 minutes during the week. Morris is married filing joint with no dependents. Required: Compute Morris's pay for the week ending August 20 using the hundredth-hour system. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Company Talbert Electronics Name Morris Lann - Manufacturing Morris Lann - Sales Total Pay Filing Status MJ MJ Dependents None None Hourly Rate or Period Wage Period Ended: Number of Regular Hours 08/20/20XX Regular Earnings

employees' vacations. When he works in the manufacturing department, he earns $17.75 per hour. Morris earns a $1.50 pay differential for working the sales counter. He worked a total of 38 hours and 38 minutes during the week. Morris is married filing joint with no dependents. Required: Compute Morris's pay for the week ending August 20 using the hundredth-hour system. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Company Talbert Electronics Name Morris Lann - Manufacturing Morris Lann - Sales Total Pay Filing Status MJ MJ Dependents None None Hourly Rate or Period Wage Period Ended: Number of Regular Hours 08/20/20XX Regular Earnings

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

River Signorini works for New & Old Apparel, which pays employees on a semimonthly basis. River's annual salary is $177,500. Required: Calculate the following Note: Round your final answers to 2 decimal places. Pay Date Prior YTD Earnings October 15 December 31. Social Security Taxable Wages Medicare Taxable Wages Employer Share Social Security Taxi Employer Share Medicare Tax
Justin Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($500.00), and the employer withholds the appropriate taxes for the tips from this first pay in March. Calculate his net take-home pay assuming the employer withheld federal income tax (wage-bracket, married filing jointly), social security taxes, and state income tax (1%). Enter deductions beginning with a minus sign (-). Round interim amounts to two decimal places. Use these values in subsequent computations then round final answer to two decimal places. As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used. Click here to access the…
51 S. Wall receives a yearly salary of $78737. She is paid bi-weekly and her regular workweek is 37.5 hours. What is the gross pay for a pay period in which she works 28 hours overtime at time and one-half regular pay? Enter with 2 decimals, no commas and no $ signs.
Peter Greeda's regular hourly wage rate is $13, and he receives 1.5 times his normal rate for hours worked in excess of 40. During a March pay period, Peter worked 47 hours. Peter's federal income tax withholding is $80, and he has no voluntary deductions. Compute Peter's gross earnings for the pay period. Round your answer to 2 decimal places.
3. On December 30, Nancy Sheridan hired an employee, Tom Shanahan, to help her with the medical billing. His first weekly pay period ends January 7 and he will be paid on January 14. He earns $17.25 per hour. During the 40-hour weekly pay period, Tom worked 48 hours. His Federal income tax is $122. Social Security tax is 6.2% and Medicare tax is 1.45%. a. Compute Tom's pay as of January 7. Regular earnings Date Overtime earnings Gross pay (Wages Expense) b. Record the General Journal entry for Tom's January 7 pay. Date Description Social Federal income tax Security payable tax payable Description Debit Medicare tax payable c. The FUTA rate for Sheridan is 0.6% and the SUTA rate is 5.4%. Record the General Journal entry for the January 14 employer's share payroll taxes. Debit Credit Net pay (Wages payable) Credit
River Signorini works for New & Old Apparel, which pays employees on a semimonthly basis. River's annual salary is $193,000. Required: Calculate the following: Note: Round your final answers to 2 decimal places. Pay Date October 13 Prior YTD Earnings Social Security Taxable Wages Medicare Taxable Wages Employer Share Social Security Tax Employer Share Medicare Tax December 29
i need the answer quickly
For large repair jobs, Joe the Plumber requires his customers to put down a 20% deposit one week in advance of the work’s completion. On January 15th, Joe receives $100 from a customer as a deposit for work to be later completed. What is the associated journal entry for this transaction?
Required information [The following information applies to the questions displayed below.] The following information is available for the employees of Webber Packing Company for the first week of January Year 1: 1. Kayla earns $27 per hour and 1½ times her regular rate for hours over 40 per week. Kayla worked 45 hours the first week in January. Kayla's federal income tax withholding is equal to 9 percent of her gross pay. Webber pays medical insurance of $75 per week for Kayla and contributes $55 per week to a retirement plan for her. 2. Paula earns a weekly salary of $1,400. Paula's federal income tax withholding is 19 percent of her gross pay. Webber pays medical insurance of $105 per week for Paula and contributes $120 per week to a retirement plan for her. 3. Vacation pay is accrued at the rate of 2 hours per week (based on the regular pay rate) for Kayla and $70 per week for Paula. Y Assume the Social Security tax rate is 6.0 percent on the first $110,000 of salaries and the…
Justin Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($500.00), and the employer withholds the appropriate taxes for the tips from this first pay in March. Calculate his net take-home pay assuming the employer withheld federal income tax (wage-bracket, head of household), social security taxes, and state income tax (2%).
Dennis Murphy is a salaried, nonexempt administrative assistant for Dionti Investments and is paid semimonthly. He is married filing joint with five dependents under 17. His annual salary is $91,000, and his standard workweek is 37.5 hours. During the pay period, he worked 10 hours overtime. Find the hourly rate, overtime rate, and the number of regular hours and overtime hours.
Carranza, a nonexempt salesperson with Verent Enterprises, earns a base annual salary of $31,750 with a standard 40-hour workweek. In addition, a 3 percent commission on all sales during the pay period applies. During the weekly pay period ending August 26, Carranza closed $26,400 in sales and worked 4 hours of overtime. Required:What is the gross pay for the period?Note: Do not round your intermediate calculations. Round your final answer to 2 decimal places. Gross pay: