Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Faruga Company had FUTA taxable payrolls for the four quarters of $38,400; $29,600; $16,500; and $8,900, respectively. What was the amount of Faruga’s first required deposit of FUTA taxes?

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According to the accountant of Ulster Inc., its payroll taxes for the week were as follows: $137.68 for FICA taxes, $13.77 for federal unemployment taxes, and $92.93 for state unemployment taxes.Journalize the entry to record the accrual of the payroll taxes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 10.50.)

According to a summary of the payroll of Scotland Company, total salaries were $500,000.  Assume that social security taxes are payable at a 6% rate and Medicare taxes are payable at a 1.5% rate with no maximum earnings. Federal income tax withheld was $98,000.  Also, $15,000 was subject to state (5.4%) and federal (0.8%) unemployment taxes.  The journal entry to record accrued salaries would include a ​ Select one: a. debit to Salaries Payable of $365,250 b. credit to Salaries Payable of $364,500 c. debit to Salaries Expense of $364,500 d. credit to Salaries Expense of $365,250

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Compute the net pay for each employee using the federal income tax withholding table included. Assume that FICA Social Security tax is 6.2% on a wage base limit of $142,800, Medicare is 1.45% on all earnings, the payroll is paid biweekly, and no state income tax applies. (Round each computation to the nearest cent as needed.) View the employee information. Compute the net pay for each employee. View the biweekly payroll period percentage method withholding chart. Li Kan Isabel Poland Gross earnings for the current pay period Deductions for employee withholding taxes - BIWEEKLY Payroll Period Percentage Method Withholding Chart STANDARD Withholding Rate Schedules Single or Married Filing Separately of the amount The tentative amount to Plus this withhold is: percentage-exceeds— that the Adjusted Wage Total deductions Net pay Adjusted wage amount is at least $0, but less than $483 $ 0.00 0% $ Adjusted wage amount is at least $483, but less than $865 $ 0.00 10% $ 483 Adjusted wage amount…

According to a summary of the payroll of Guthrie Co., $560,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $60,000 was subject to state and fed-eral unemployment taxes. a. Compute the employer’s payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.6%. b. Journalize the entry to record the accrual of payroll taxes.

For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: Employer: Jenna Love works at College of Charlotte and is paid $35 per hour for a 40-hour workweek and time-and-a-half for hours above 40. OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Requirement 1. Compute Love's gross pay for working 58 hours during the first week of February. Net (take-home) pay Gross Pay Requirement 2. Love is single, and her income tax withholding is 10% of total pay. Love's only payroll deductions are payroll taxes. Compute Love's net (take-home) pay for the week. Assume Love's earnings to date are less than the OASDI limit. (Round all amounts to the nearest cent.) Withholding deductions: Date (...) Begin with the entry to accrue wages expense and payroll withholdings for Jenna…

Samantha Lindsay works at College of Austin and is paid $15 per hour for a 40-hour workweek and time-and-a-half for hours above 40. (Click the icon to view payroll tax rate information.) Read the requirements. CEN Requirement 1. Compute Lindsay's gross pay for working 52 hours during the first week of February. Straight-time pay for 40 hours $ 600.00 270.00 Overtime pay for 12 hours 870.00 Gross Pay Requirement 2. Lindsay is single, and her income tax withholding is 15% of total pay. Lindsay's only payroll deductions are payroll taxes. Compute Lindsay's net (take-home) pay for the week. Assume Lindsay's earnings to date are less than the OASDI limit. (Round all amounts to the nearest cent) Gross pay Withholding deductions: Employee income tax Employee OASDI tax Employee Medicare tax Total withholdings Net (take-home) pay 4