1) How much total cash will be paid to employees for the last week of November? An analysis of the job time tickets and payroll records showed:No.Job No.MonTuesWedThursFriSat001Supervisor7018.8.8.88.8.0025702227.0037018.470288.8.40047024247038.6.8.500570348704006704476.470542.40077048.705Previous earnings in June (November I- 24)No.00119,210.0016,204.0000200312.814.0000412,706.0012,528.0000500616,102.0000714,538.00 Exercise 4 - 8. PAYROLL PROCEDURES.NN Company operates on a 6-day week, with time and one-quarter for all hours over eightduring the regular days. The time cards for the week ending November 30 showed:Rate/hrP120No.TuesNameJakeTibsMon18Wed8.8.ThursFriSat0010028.8480003Ramon8.8.8.8.9.470004Teddy18.8470005Art8.70006Rene8.8.80007Aga8.4.4.80

SOLUTION- PAYROLL IS THE TOTAL OF ALL THE COMPENSATION THAT THE BUSINESS MUST PAY TO ITS EMPLOYEES…

Answered: An analysis of the job time tickets and…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

How much is the VAT Payable in April? Given the following data during the 2nd quarter of 2022 Month Output Tax Input Tax April May 12,000.00 18,000.00 24,000.00 7,000.00 15,000.00 June 10,000.00 In the books, there was a debit balance of input tax amounting to 6,000 from preceding quarter. 1,000 5,000
How much is the budgeted balance for Accounts Payable at October 31, 2022?
How much is the net income earned in April 2021? Muntinlupa Co. reported the following events to its bookkeeper covering the month of April 2021: T1: Hired five employees who will be assigned to handle the delivery operations of the company. Each employee signed a P15,000 monthly salary contract. T2: The purchasing officer prepared a purchase order for inventory amounting to P85,000. The said PO had been mailed to the supplier on the same date. T3: Muntinlupa‘s chairman, Mr. Hini M. Atay, suffered heart attack and is feared that he will pass away. The expected loss for this to Muntinlupa is estimated at P10,000,000. T4: Billing for electricity for the month of April 2021 received on April 30, 2021 amounted to P13,600. T5: Delivered inventories to a customer with selling price of P350,000. The cost of goods sold is P300,000. How much is the net income earned in April 2021?
Assuming your budgets are stable across the year, how much of your Company's budget do you have left for developing new collateral for the remainder of this month?
Below is a payroll sheet for Otis Import Company for the month of September 2014. The company is allowed a 1% unemployment compensation rate by the state; the federal unemployment tax rate is 0.8% and the maximum for both is $7,000. Assume a 10% federal income tax rate for all employees and a 7.65% FICA tax on employee and employer on a maximum of $113,700. In addition, 1.45% is charged both employer and employee for an employee's wages in excess of $113,700 per employee.
By how much would total payroll (compensation plus tax) increase in the previous question if the government imposed a new minimum wage of $15/hour and the managers’ wages increased by the same proportion as the servers’ wages?
How much is the company's expected cash collections in the month of May?
Majan Company paid employee wages on Friday, March 25, and the next payroll will be paid in April. Employees work 5 days a week and the company pays $1.330 a week in wages. What will be the amount of accrue wages expense at the end of March?
1. wHAT IS THE CASH PAYMENTS IN QUARTER 3 2. HOW MUCH IS THE TOTAL MANUFACTURING OVERHEAD BUDGET 2023?
The question is based on the monthly payroll record of Division S and Agency A (see below). Refer to the following facts when answering questions. All Agency A employees are paid biweekly on the 5th (for wages earned during the payperiod of the previous month's 16 through month end) and the 20th (for wages earned during the payperiod of the 1st through 15). Overtime is paid at the rate of 1 ½ times regular salary. Monthly deductions remain the same percentage of gross earnings. For instance, an employee whose regular salary is $1000 has 10% or $100 withheld for federal taxes. If the same employee earns $200 in overtime, his federal tax deduction would be $120, or 10% of $1200. In converting monthly salaries to hourly rates, compute on the basis of 173.33 working hours in a month. Division S’s clerk has no state taxes deducted. What is his yearly take home pay? Select the single best answer: A. $13596.00 B. $14244.00C. $15156.00D. $15620.00
Chapter 9 Homework - Payroll (Homework) Question is : A paving company has 24 employees, 15 with gross earnings of $355 per week and nine with gross earnings of $385 per week. What is the total social security and Medicare tax (in $) the company must send to the Internal Revenue Service for the first quarter of the year?
Lister Company currently gives its employees their pay at the end of each week. Lister’s weekly payroll totals $500,000. If Lister extends the pay period so as to pay its employees one week later throughout an entire year, the employees would in effect be "lending" the firm how much for the year?

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS