August is an employee at Ruby Investments, with an annual salary of $88,000, paid biweekly. August has the following fringe andvoluntary benefits:WNWOMedical insurance: $490 per month401(k): 3 percent of gross payFlexible spending arrangement: $2,685 annuallyCharitable contributions: $65 per pay periodRequired:What is the total amount August contributes to fringe benefits and voluntary deductions annually?Medical insurance401(k)Flexible spending arrangementCharitable contributionsTotal amount August contributes to fringe benefits and voluntary deductions annually

Fringe benefits are compensation given by the company over and above the salary paid to its…

Answered: August is an employee at Ruby…

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

oters 7-9) A Saved Pat Maninen earns a gross salary of $4,400 each week. Assume a rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare. a. What are Pat's first week's deductions for Social Security and Medicare? (Round your answers to the nearest cent.) Deductions Social Security Medicare b. Will any of Pat's wages be exempt from Social Security and Medicare for the calendar year? (Leave no cells blahk - be certain to enter "O" wherever required.) Social Security Medicare Mc Graw Hill DII 23 %24 % 6. 8. 2 3 4. r y e a m
Shiloh is an employee at Jankoski Cycles and earns an annual salary of $37,765, paid semimonthly. Shiloh contributes to the following fringe benefits and other deductions: Medical insurance: $220 per pay period Dental insurance: $15 per pay period 401(k): 6 percent of gross pay • Additional withholding: $125 per month Required: What is the total annual amount of Shiloh's fringe benefits and other deductions? Note: Round your answers to 2 decimal places. Fringe benefits Medical insurance Dental insurance 401(k) Additional withholding Total annual amount of Shiloh's fringe benefits and other deductions Amount
Logan makes an annual salary of $41,875 he is paid bi-weekly. What is his gross pay? And calculate his net pay?
General Motors provides long term disability insurance for this employee. The contract states that this employee will earn $3000 per month ($36,000 per year) if they become disabled. General Motors paid the entire premium cost of $1000 per year. If this employee should become disabled, what would be their yearly personal income tax liability?A. $0B. $300C. $900D. $3600E. $10,800
Dog
Calculate net pay in the following example. Assume that FICA reate is 7.65%, FITW is 15% and the employee did not earn more than $50,000. Robert is paid $475 per week and makes a pretax contribution of $75 for medical insurance to his employer's flexible benefit plan. Do not include a dollar sign in your answer. Round to the nearest tenth.
Elodie is paid her commissions together with her bi-weekly salary of $1,000.00. This pay period her commissions are $4,300.00. Calculate her Québec Pension Plan contribution for this pay period. Your answer:
Am.102.
Sammy's employer pays for 40% of her annual health insurance premium of $5,150.00. Sammy pays the remaining balance by having it deducted in equal amounts from her 26 paychecks throughout the calendar year. How much will Sammy have deducted from each paycheck?
Anita pays 50% of the total cost for her benefits, her employer pays the other 50%. The total monthly premium for health is $167.50 and $75.50 for dental. She is paid weekly What is the total combined (health & dental) amount payable recorded for this pay period?
Supermarket Caridad offers its employees vacation benefits and contributes a 2% contribution to a 401K. The employees had total wages of $ 125,000 and vacation benefits of $ 28,460. Calculate how much the employer contributes for the 401k.Make the wage entries related to vacation pay.Make the wage entries related to the 401K contribution.
Gabe contributes 12% of the total cost of his individual health care coverage. He pays $33.45 per week towards this contribution. What is the amount Gabe's employer contributes for health care coverage 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