Assume that the payroll records of Blue Spruce Oil Company provided the following information for the weekly payroll ended November 30, 2020. Employee T. King T. Binion N.Cole C. Hennesey (a) Hours Worked 44 46 40 FICA 42 Your answer is partially correct. OIL COMPANY Register November 30, 2020 Hourly Pay Rate Federal Income Tax $68 33 $ 38 LA 43 $442 Deductions 97 Federal Income Taxes 148 230 Additional information: All employees are paid overtime at time and a half for hours worked in excess of 40 per week. The FICA tax rate is 7.65% for the first $132,900 of each employee's annual earnings and 1.45% on any earnings over $132,900. The employer pays unemployment taxes of 6.0% (5.4% for state and .6% for federal) on the first $7,000 of each employee's annual earnings. Prepare the payroll register for the pay period. (Round answers to 2 decimal places, e.g. 15.25.) Union Dues $ +A $9 5 Union - 7 Year-to-Date Earnings Through Previous Week $133,900 $ +A 23,200 5,700 49,500 Net Pay
Assume that the payroll records of Blue Spruce Oil Company provided the following information for the weekly payroll ended November 30, 2020. Employee T. King T. Binion N.Cole C. Hennesey (a) Hours Worked 44 46 40 FICA 42 Your answer is partially correct. OIL COMPANY Register November 30, 2020 Hourly Pay Rate Federal Income Tax $68 33 $ 38 LA 43 $442 Deductions 97 Federal Income Taxes 148 230 Additional information: All employees are paid overtime at time and a half for hours worked in excess of 40 per week. The FICA tax rate is 7.65% for the first $132,900 of each employee's annual earnings and 1.45% on any earnings over $132,900. The employer pays unemployment taxes of 6.0% (5.4% for state and .6% for federal) on the first $7,000 of each employee's annual earnings. Prepare the payroll register for the pay period. (Round answers to 2 decimal places, e.g. 15.25.) Union Dues $ +A $9 5 Union - 7 Year-to-Date Earnings Through Previous Week $133,900 $ +A 23,200 5,700 49,500 Net Pay
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter9: Payroll Accounting: Employer Taxes And Reports
Section: Chapter Questions
Problem 7SPA
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Rahul
![Assume that the payroll records of Blue Spruce Oil Company provided the following information for the weekly payroll ended
November 30, 2020.
Employee
T. King
T. Binion
N.Cole
C. Hennesey
(a)
Hours Worked
44
46
40
FICA
42
Your answer is partially correct.
OIL COMPANY
Register
November 30, 2020
Hourly Pay Rate
$68
33
$
38
LA
43
Federal Income Tax Union Dues
Deductions
$442
97
Federal Income Taxes
148
Additional information: All employees are paid overtime at time and a half for hours worked in excess of 40 per week. The FICA tax
rate is 7.65% for the first $132,900 of each employee's annual earnings and 1.45% on any earnings over $132,900. The employer pays
unemployment taxes of 6.0% (5.4% for state and .6% for federal) on the first $7,000 of each employee's annual earnings.
Prepare the payroll register for the pay period. (Round answers to 2 decimal places, e.g. 15.25.)
230
$
$9
LA
5
Union
7
Year-to-Date
Earnings Through
Previous Week
tA
$133,900
23,200
$
5,700
49,500
Net Pay](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0f0f287a-fcf3-4ecc-976d-c85015b8e1f8%2F3e9e4217-c566-4ad0-b29e-898a86a2fba5%2Fmuwx7so_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Assume that the payroll records of Blue Spruce Oil Company provided the following information for the weekly payroll ended
November 30, 2020.
Employee
T. King
T. Binion
N.Cole
C. Hennesey
(a)
Hours Worked
44
46
40
FICA
42
Your answer is partially correct.
OIL COMPANY
Register
November 30, 2020
Hourly Pay Rate
$68
33
$
38
LA
43
Federal Income Tax Union Dues
Deductions
$442
97
Federal Income Taxes
148
Additional information: All employees are paid overtime at time and a half for hours worked in excess of 40 per week. The FICA tax
rate is 7.65% for the first $132,900 of each employee's annual earnings and 1.45% on any earnings over $132,900. The employer pays
unemployment taxes of 6.0% (5.4% for state and .6% for federal) on the first $7,000 of each employee's annual earnings.
Prepare the payroll register for the pay period. (Round answers to 2 decimal places, e.g. 15.25.)
230
$
$9
LA
5
Union
7
Year-to-Date
Earnings Through
Previous Week
tA
$133,900
23,200
$
5,700
49,500
Net Pay
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