College Accounting - With Quickbooks 2015 CD and Access
12th Edition
ISBN: 9781305790254
Author: Scott
Publisher: Cengage
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Chapter 7, Problem 2E
To determine
Complete and fill the banks with payroll calculations for the week.
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Lisa Meilo works for Pacific Company, which pays its employees time-and-a-half for all hours worked in excess of 40 per week. Meilo's pay rate is $40.00 per hour. Her wages are subject to federal income tax, a Social Security tax deduction at the rate of 6.2 percent, and a Medicare tax deduction at the rate of 1.45 percent. She is married and claims three allowances. Meilo has an unpaid half-hour lunch break during an 8½-hour day. In the most recent pay period, she worked 48 hours. Meilo's beginning cumulative earnings are $75,200.
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Suzanne works in a garment factory and is paid a basic rate of $19.26 for each hour worked between 7am and 4:30 pm, excluding lunch hour, Monday to Friday. However, she paid at time and a half for overtime worked from Monday to Friday and at double time for overtime worked during the weekends. She is taxed at the rate of 10 cent in each dollar and pays 7.5% of her weekly pay for NPF contribution plus superannuation at 3.25% of her basic weekly wage. Use the information given in her time sheet to answer the following questions.
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Elizabeth’s regular hourly wage rate is $22, and she receives an hourly rate of $33 for work in excess of 40 hours. During a January pay period, Elizabeth works 49 hours. Elizabeth’s federal income tax withholding is $97, and she has no voluntary deductions. Compute Elizabeth’s net pay for the pay period. Assume that the FICA tax rate is 7.65%.
Chapter 7 Solutions
College Accounting - With Quickbooks 2015 CD and Access
Ch. 7 - Prob. 1QYCh. 7 - Which of the following taxes are not withheld from...Ch. 7 - Calculate an employees total earnings if the...Ch. 7 - Prob. 4QYCh. 7 - Prob. 5QYCh. 7 - Prob. 6QYCh. 7 - When is the payroll register updated? a. Annually...Ch. 7 - Prob. 1DQCh. 7 - Prob. 2DQCh. 7 - Prob. 3DQ
Ch. 7 - Explain the difference between gross earnings and...Ch. 7 - Prob. 5DQCh. 7 - Prob. 6DQCh. 7 - Prob. 7DQCh. 7 - Prob. 8DQCh. 7 - Prob. 1ECh. 7 - Prob. 2ECh. 7 - Prob. 3ECh. 7 - Prob. 4ECh. 7 - Prob. 5ECh. 7 - On January 21, the column totals of the payroll...Ch. 7 - Precision Labs has two employees. The following...Ch. 7 - Prob. 8ECh. 7 - Prob. 1PACh. 7 - Prob. 2PACh. 7 - Prob. 3PACh. 7 - Prob. 4PACh. 7 - Prob. 5PACh. 7 - Prob. 1PBCh. 7 - Prob. 2PBCh. 7 - Prob. 3PBCh. 7 - Prob. 4PBCh. 7 - Prob. 5PBCh. 7 - Attracting and retaining the best employees is...Ch. 7 - Southern Company pays its employees weekly by...Ch. 7 - Prob. 3A
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