The following date for Presco Inc. relate to the payroll for the week ended February 9: Employee Federal Income Tax United Way (Charitable Contributions) Hours Worked Hourly Rate Ashley 52 $50.00 $667.00 $60 Luke 36 $52.00 $355.68 $0 Todd 45 $58.00 $578.55 $44 All personnel are paid 1 ½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0% of each employee's annual earnings, and Medicare tax is 1.5% of each employee's annual earnings. What are the gross wages for Ashley? Please round your answer to whole dollar, and do not input a dollar sign. Answer:

The following date for Presco Inc. relate to the payroll for the week ended February 9: Employee Federal Income Tax United Way (Charitable Contributions) Hours Worked Hourly Rate Ashley 52 $50.00 $667.00 $60 Luke 36 $52.00 $355.68 $0 Todd 45 $58.00 $578.55 $44 All personnel are paid 1 ½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0% of each employee's annual earnings, and Medicare tax is 1.5% of each employee's annual earnings. What are the gross wages for Ashley? Please round your answer to whole dollar, and do not input a dollar sign. Answer:

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter11: Current Liabilities And Payroll

Section: Chapter Questions

Problem 4PB

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In the space provided below, prepare the journal entry to record the November payroll for all employees assuming that the payroll is paid on November 30 and that Joness cumulative gross pay (cell I13) is 85,000.
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