Blossom Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15 are presented below. Employee Ben Abel Rita Hager Jack Never Sue Perez Hours Worked (a) 40 42 44 46 Hourly Rate $12.00 13.00 Your answer is partially correct. 13.00 13.00 Federal Income Tax Withholdings $48.00 21.00 60.00 61.00 United Fund The following tax rates are applicable: FICA 7.65% (the 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages), state income taxes 3%, state unemployment taxes 5,4%, and federal unemployment 0.6%. $5.00 5.00 8.00 5.00 Journalize employer payroll taxes. No employee has reached the Social Security limit of $128,400 or the FUTA/SUTA limit of $7,000. (Round answers to 2 decimal places, eg. 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Blossom Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a
week. Payroll data for the week ended March 15 are presented below.
Employee
Ben Abel
Rita Hager
Jack Never
Sue Perez
(a)
Hours Worked
40
Date
42
44
46
Hourly Rate
$12.00
13.00
13.00
Your answer is partially correct.
13.00
Federal Income Tax Withholdings
$48.00
21.00
Account Titles and Explanation
60.00
61.00
United Fund
The following tax rates are applicable: FICA 7.65% (the 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries
and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages), state income taxes 3%, state unemployment
taxes 5.4%, and federal unemployment 0.6%.
$5.00
Debit
5.00
8.00
Journalize employer payroll taxes. No employee has reached the Social Security limit of $128,400 or the FUTA/SUTA limit of
$7,000. (Round answers to 2 decimal places, e.g. 15.25. Credit account titles are automatically indented when amount is entered. Do not
Indent manually)
5.00
Credit
Transcribed Image Text:Blossom Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15 are presented below. Employee Ben Abel Rita Hager Jack Never Sue Perez (a) Hours Worked 40 Date 42 44 46 Hourly Rate $12.00 13.00 13.00 Your answer is partially correct. 13.00 Federal Income Tax Withholdings $48.00 21.00 Account Titles and Explanation 60.00 61.00 United Fund The following tax rates are applicable: FICA 7.65% (the 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages), state income taxes 3%, state unemployment taxes 5.4%, and federal unemployment 0.6%. $5.00 Debit 5.00 8.00 Journalize employer payroll taxes. No employee has reached the Social Security limit of $128,400 or the FUTA/SUTA limit of $7,000. (Round answers to 2 decimal places, e.g. 15.25. Credit account titles are automatically indented when amount is entered. Do not Indent manually) 5.00 Credit
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