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Business
Accounting
790 800 77 65 53 42 32 24 16 69 0

790 800 77 65 53 42 32 24 16 69 0

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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(The chart included is figure 3)
Rick Davis, an employee of ABC Motors, worked 42 hours during the week of September 12 through 18. His rate of pay is $30.9 per hour, and he receives time-and-a-half for work in excess of 40 hours per week. Rick is married and claims zero allowances on his W-4 form. Rick's YTD earnings before this pay period are $47,485, and his wages are subject to the following deductions: a. Federal income tax (use the table in Figure 3). b. Social Security tax at 6.2 percent, with a wage limit of $118,500. c. Medicare tax at 1.45 percent. d. Medical insurance premium (after tax), $76. e. United Way contribution, $30. Compute Rick's regular pay. Compute Rick's overtime pay. If required, round intermediate calculations and the final answer to the nearest cent and use the rounded answers in subsequent computations. Compute Rick's gross pay. If required, round intermediate calculations and the final answer to the nearest cent and use the rounded answers in subsequent computations. Compute Rick's net pay. If required, round intermediate calculations to the nearest cent and use them in subsequent computations. Round final answer to the nearest cent.
Transcribed Image Text:Rick Davis, an employee of ABC Motors, worked 42 hours during the week of September 12 through 18. His rate of pay is $30.9 per hour, and he receives time-and-a-half for work in excess of 40 hours per week. Rick is married and claims zero allowances on his W-4 form. Rick's YTD earnings before this pay period are $47,485, and his wages are subject to the following deductions: a. Federal income tax (use the table in Figure 3). b. Social Security tax at 6.2 percent, with a wage limit of $118,500. c. Medicare tax at 1.45 percent. d. Medical insurance premium (after tax), $76. e. United Way contribution, $30. Compute Rick's regular pay. Compute Rick's overtime pay. If required, round intermediate calculations and the final answer to the nearest cent and use the rounded answers in subsequent computations. Compute Rick's gross pay. If required, round intermediate calculations and the final answer to the nearest cent and use the rounded answers in subsequent computations. Compute Rick's net pay. If required, round intermediate calculations to the nearest cent and use them in subsequent computations. Round final answer to the nearest cent.
1777 32122 84998 38808 2008年 05544 2286號 28088 23582 88888 Hua W2380 82330 88331 13 11444 818 8 8646 6884 KEERY SEEN NN NN0000 00000 08 4144 890 23964 615 328 329 NEMEN NO ANO NOVA NOOO ooooo ooooo ooooo 00 11142 卡卡888 22882 88848 G288號 88444 44444 4882 4801 00000 00000 00000 00000 00000 84888 NUNG NOONG NHO NO NOoo ooooo ooooo ooooo ooooo ooooo ooooo 08 34467 28028 BENOG FONO CONOWN-0 00000 ooooo ooooo ooooo ooooo ooooo 0000000000.00 21266 56OON BRAWN 0000 00000 00000 00000 00000 00000 00000 00000 00000 00000 00 go 00000 00000 ooooo ooooo ooooo ooooo ooooo ooooo ooooo ooooo oooo0 ONS 6749 go ooooo ooooo ooooo ooooo ooooo ooooo ooooo ooooo ooooo ooooo ooooo ooo00 0000- go ooooo ooooo ooooo ooo oo ooooo ooooo ooooo ooooo ooooo ooooo 00000 00000 00000 go ooooo ooooo ooooo ooooo ooooo ooooo ooooo ooo oo ooooo ooooo 00000 00000 00000 At least And the wages are- The i But less 0 1 2 3 4 5 And the number of withholding allowances claimed is tax to be withheld is- 7 8 9 (For Wages Pald through December 31, 20-) MARRIED Persons-WEEKLY Payroll Period
Transcribed Image Text:1777 32122 84998 38808 2008年 05544 2286號 28088 23582 88888 Hua W2380 82330 88331 13 11444 818 8 8646 6884 KEERY SEEN NN NN0000 00000 08 4144 890 23964 615 328 329 NEMEN NO ANO NOVA NOOO ooooo ooooo ooooo 00 11142 卡卡888 22882 88848 G288號 88444 44444 4882 4801 00000 00000 00000 00000 00000 84888 NUNG NOONG NHO NO NOoo ooooo ooooo ooooo ooooo ooooo ooooo 08 34467 28028 BENOG FONO CONOWN-0 00000 ooooo ooooo ooooo ooooo ooooo 0000000000.00 21266 56OON BRAWN 0000 00000 00000 00000 00000 00000 00000 00000 00000 00000 00 go 00000 00000 ooooo ooooo ooooo ooooo ooooo ooooo ooooo ooooo oooo0 ONS 6749 go ooooo ooooo ooooo ooooo ooooo ooooo ooooo ooooo ooooo ooooo ooooo ooo00 0000- go ooooo ooooo ooooo ooo oo ooooo ooooo ooooo ooooo ooooo ooooo 00000 00000 00000 go ooooo ooooo ooooo ooooo ooooo ooooo ooooo ooo oo ooooo ooooo 00000 00000 00000 At least And the wages are- The i But less 0 1 2 3 4 5 And the number of withholding allowances claimed is tax to be withheld is- 7 8 9 (For Wages Pald through December 31, 20-) MARRIED Persons-WEEKLY Payroll Period
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