Logan White is general manager of Moonwalk Tanning Salons. During 2010, White worked for the company all year at a $6,100 monthly salary. He also earned a year- end bonus equal to 5% of his salary. • White's federal income tax withheld during 2010 was $810 per month, plus $932 on his bonus check. State income tax withheld came to $80 per month, plus $70 on the bonus. The FICA tax withheld was 8% of the first $90,000 in annual earnings. White authorized the following payroll deductions: United Fund contribution of 1% of total earnings and life insurance of $20 per month. Moonwalk incurred payroll tax expense on White for FICA tax of 8% of the first $90,000 in annual earnings. The company also paid state unemployment tax of 5.4% and federal unemployment tax D.8% on the first $7,000 in annual earnings. n addition, Moonwalk provides White with health insurance at a cost of $110 per

Nathan Upton earns $11.80/hour, and worked 42 hours during the most recent week. He does not make any voluntary deductions each period. Nathan Upton is married, and claims three withholding allowances for both federal and state. His year-to-date taxable earnings for Social Security tax, prior to the current pay period, are $137,220, and he is paid with check #0502. Social Security Tax= Medicare Tax=

Liam Wallace is general manager of Worldwide Salons. During 2018Wallace worked for the company all 18, 1 year at a $ 12,900 monthly salary. He also earned a year-end bonus equal to 15% of his annual salary Wallace's federal income tax withheld during 2018 was $1,161 per month, plus $2,322 on his bonus check. State income tax withheld came to $170 per month , plus $110 on the bonus . FICA tax was withheld on the annual earnings . Wallace authorized the following payroll deductions : Charity Fund contribution of 4% of total earnings and life insurance of $35 per month Worldwide incurred payroll tax expense on Wallace for FICA tax . The company also paid state unemployment tax and federal unemployment tax . Requirement 3. Make the journal entry to record Worldwide's expense for Wallace's total earnings for the year, his payroll deductions and net payDebit Salaries Expense and Bonus Expense as appropriate Credit liability accounts for the payroll deductions and Cash for net pay. An…

Logan White is general manager of Moonwalk Tanning Salons. During 2010, White worked for the company all year at a $6,100 monthly salary. He also earned a year-end bonus equal to 5% of his salary. White’s federal income tax withheld during 2010 was $810 per month, plus $932 on his bonus check. State income tax withheld came to $80 per month, plus $70 on the bonus. The FICA tax withheld was 8% of the first $90,000 in annual earnings. White authorized the following payroll deductions: United Fund contribution of 1% of total earnings and life insurance of $20 per month. Moonwalk incurred payroll tax expense on White for FICA tax of 8% of the first $90,000 in annual earnings. The company also paid state unemployment tax of 5.4% and federal unemployment tax of 0.8% on the first $7,000 in annual earnings. In addition, Moonwalk provides White with health insurance at a cost of $110 per month. During 2010, Moonwalk paid $2,000 into White’s retirement plan. Compute the following (round…

National incurred payroll tax expense on White for FICA tax. The company also paid state unemployment tax and federal unemployment tax. O (Click the icon to view payroll tax rate information.) Logan White is general manager of National Salons. During 2024, White worked for the company all year at a $14,200 monthly salary. He also earmed a year-end bonus equal to 5% of his annual salary. White's federal income tax withheld during 2024 was $1,420 per month, plus $2,726 on his bonus check. State income tax withheld came to $90 per month, plus $80 on the bonus. FICA tax was withheld on the annual earnings. White authorized the following payroll deductions: Charity Fund contribution of 3% of total earnings and life insurance of $25 per month. Read the reauirermenta. 378 Stato Unemployment Taxos Payablo Requirement 5. Make the journal entry for the payment of the payroll withholdings and taxes. (Record debits first, then credits. Exclude explanations from joumal entries.) Debit Credit Date…

The Social Security Administration increased the taxable wage base from $127,200 to $128,400. The 6.2% tax rate is unchanged. Joe Burns earned over $129,700 each of the past two years. a. What is the percent increase in the base? (Round your answer to the nearest hundredth percent.) Percent increase % b. What is Joe's increase in Social Security tax for the new year? (Round your answer to the nearest cent.) Increase in social security tax

Can I do a general journal entry on this scenario, if so how do i do it? Master Flow’s first employee, Emma Stone starts at the Company. She will be responsible for Warehouse Management. She will be paid $20 / Hour. Emma works 30 Hours / Pay Period (every two weeks). The pay period ends on 12-31-20. Emma’s Federal Tax Withholding is $50, based on her W4, and all other standard payroll taxes apply at their appropriate rates. She does not receive benefits and does not have any contributions of any type withheld from her pay.

Damerly Company (a Utah employer) wants to give a holiday bonus check of $375 to each employee. Since it wants the check amount to be $375, it will need to gross-up the amount of the bonus. Calculate the withholding taxes and the gross amount of the bonus to be made to John Rolen if his cumulative earnings for the year are $46,910. Besides being subject to social security taxes and federal income tax (supplemental rate), a 4.95% Utah income tax must be withheld on supplemental payments.

An employee works 51 hours (51 - 40 were overtime hours) during a workweek in December of 2021. He earns $10,000/month, with his employer paying 1.5 times the regular rate of pay for overtime hours. To date, he has earned $144,100 during the year. He has requested that his employer withhold 9% of gross pay, which is to be contributed to a 401(k) plan. Taxable income for federal income tax withholding = $ Taxable income for social security tax = $ Taxable income for medicare tax = $

Gus Damon (married; 9 federal withholding allowances) earned weekly gross pay of $1,240. He contributes $140 to a flexible spending account during the period. The city in which he lives and works levies a tax of 2.8% of an employee's taxable pay (which is the same for federal and local income tax withholding) on residents and 0.30% of an employee's taxable pay on nonresidents.Federal income tax withholding = $ State income tax withholding = $ Local income tax withholding = $ 30.25