Moisa Evans is a maitre d’ at Red Rock Club. On September 5, his gross pay was $900 (three days working, one paid vacation day, and one paid sick day). He also reported to his employer tips of $860 for the previous month (applicable taxes to be deducted out of this pay). Evans belongs to the company’s 401(k) plan and has 5 percent of his gross pay ($900) deducted each week (salary reduction). Red Rock Club also provides a matching contribution ($45) into the plan for Evans. This week’s pay would have a: a. Deduction for OASDI tax $ b. Deduction for HI tax $

Marbury is the payroll accountant at All's Fair Gifts. The employees of All's Fair Gifts are paid semimonthly. Sten comes to Marbury on April 7 and requests a pay advance of $1,000, which Sten will pay back in equal parts on the April 15 and May 15 paychecks. Sten is single, with one dependent under 17, is paid $54,000 per year, contributes 3 percent of gross pay to a 401(k), and has $130 per paycheck deducted for a Section 125 plan. Required: Compute the net pay on Sten's April 15 paycheck. The applicable state income tax rate is 5.25 percent. Use the wage-bracket method for manual payroll systems with Forms W-4 from 2020 or later in Appendix C to determine the federal income tax. Assume box 2 is not checked. Note: Round your intermediate calculations and final answer to 2 decimal places. Net pay

Toren Inc. employs one person to run its solar management company. The employee's gross income for the month of May is $16,000. 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 $450, state income tax of $80, health-care insurance premium of $210, and union dues of $70. The employee is responsible for covering 30% of his or her health insurance premium. Toren Inc. have the following additional information: May is the first pay period for this employee. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,700 paid to the employee. FICA Social Security and FICA Medicare match employee deductions. The employer is responsible for 70% of the health insurance premium. Question Content Area A. Record the employer payroll for the month of May, dated May 31, 2017. If an amount box does not require an entry, leave it blank. May 31   - Select - - Select -     - Select - - Select -…

Mike Mays is a waiter at the Dixie Motel. In his first weekly pay in March, he earned $360 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($700.00), and the employer withholds the appropriate taxes for the tips from his first pay in March. Calculate his net take-home pay assuming the employer withheld federal income tax (wage tax bracket, married filing jointly, allowances, social security and state income tax (2%).

Toren Inc. employs one person to run its solar management company. The employee’s gross income for the month of May is $6,600. 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 $420, state income tax of $85, health-care insurance premium of $230, 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. Round your answers to the nearest whole dollar. If an amount box does not require an entry, leave it blank. May 31   fill in the blank f06e6df38fa3f84_2 fill in the blank f06e6df38fa3f84_3     fill in the blank f06e6df38fa3f84_5 fill in the blank f06e6df38fa3f84_6     fill in the blank f06e6df38fa3f84_8 fill in the blank f06e6df38fa3f84_9     fill in the blank f06e6df38fa3f84_11 fill in the blank f06e6df38fa3f84_12     fill in 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, 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…

Marbury is the payroll accountant at All's Fair Gifts. The employees of All's Fair Gifts are paid semimonthly. Sten comes to Marbury on April 7 and requests a pay advance of $1,000, which Sten will pay back in equal parts on the April 15 and May 15 paychecks. Sten is single, with one dependent under 17, is paid $51,600 per year, contributes 3 percent of gross pay to a 401(k), and has $127 per paycheck deducted for a Section 125 plan. Required: Compute the net pay on Sten's April 15 paycheck. The applicable state income tax rate is 5.25 percent. Use the wage-bracket method for manual payroll systems with Forms W-4 from 2020 or later in Appendix C to determine the federal income tax. Assume box 2 is not checked. Note: Round your intermediate calculations and final answer to 2 decimal places. Net pay

McFriend Inc. records its liabilities for employees’ vacations at the end of each month. McFriend has 50 employees who are paid an average of $176 per day. The company allows 10 paid vacation days per year. For the August 31 payroll, McFriend pays its employees $160,000 for time worked and $10,000 for vacation taken. Required: Prepare the journal entry to record McFriend’s August 31 payroll.

Uramilaben

Holden Smith manages a Dairy World drive-in. His straight-time pay is $18 per hour, with time-and-a-half for hours in excess of 40 per week. Smith's payroll deductions include withheld income tax of 30%, FICA tax, and a weekly deduction of $10 for a charitable contribution to United Way. Smith worked 57 hours during the week. (Click the icon to view payroll tax rate information.) Read the requirements. Requirement 1. Compute Smith's gross pay and net pay for the week. Assume earnings to date are $10,000. (Round all amounts to the nearest cent.) Begin by computing Smith's gross pay for the week. Gross Pay Compute Smith's net pay for the week. (Round all amounts to the nearest cent.) Withholding deductions: