Charles earns an annual salary of $72,100 paid biweekly based on a regularworkweek of 36.25 hours. His company generously pays all overtime at twice hisregular wage. If Charles worked 85.5 hours over the course of two weeks, whatare his gross earnings?Question Two:

Gross earnings refer to the amount of money earned by an individual over a period before any…

Answered: Charles earns an annual salary of…

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

Chapter8: Payroll Accounting: Employee Earnings And Deductions

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

Felix is paid $5,688 per month. He is single and claims two allowances. So far this year he has earned $142,694. What is his net pay for this month? 3. Karl has earned $98,557 so far this year. He is married, claims no allowances, and is paid $3,943 weekly. What is his net pay for the next week? 4. John McDonald is employed by Lee & Sterling. He is married, claims two withholding allowances, and earns $16.97 per hour. He has also chosen to have his union dues ($405 annually) and medical insurance ($5,500 per year, of which his employer pays 70%) deducted from his weekly paycheck. His cumulative gross earnings prior to this paycheck were $7,858.26. This week he worked 49 hours and 45 minutes. The union contract states that time-and-a-half is paid for all hours worked over 38 hours per week. Find all of John McDonald's deductions for this pay period given the information above. Then find John McDonald's net pay for this week.
Susan works 32 hours per week and is paid $15 per hour and works 50 weeks per year. Calculate the CPP, EI and Income tax payable that has to be paid by the Susan and her employer.
Assume that Lito Maria has a basic monthly income of 65,980. His company provides the following benefits to their employees: educational benefit of 45,000 per child (Lito has 5 children, 1 has already graduated is working); rice allowance of 1500 per month; load allowance of 800 per month; laundry allowance given every end of the quarter 2500; uniform allowance given every March 8,000 and an anniversary bonus of 12,000 given every October. His company provides 13th month pay as mandated by the government. Compute for the problems individually unless specifically stated.1. Compute for his withholding tax for the month of March given that he had overtimes amounting to 2,980. And holiday pay of 5,275.38. Plus any benefits received this month?
Henry is a college student currently working 25 hours a week at his part- time job. If Henry gets paid $15 an hour, what is his weekly, monthly, and annual income?
Barry's employer pays $1,945 in health insurance and $234 in life insurance per year. He also gets $4,213 in paid time off per year. His monthly gross pay is $5,020. What are Barry's total job benefits per year?
Helen Meyer receives a travel allowance of $160 each week from her company for time away from home. If this allowance is taxable and she has a 15 percent income tax rate, what amount will she have to pay in taxes for this employee benefit annually? (Round your final answer to 2 decimal places.) Annual tax amount
Helen Meyer receives a travel allowance of $210 each week from her company for time away from home. If this allowance is taxable and she has a 10 percent income tax rate, what amount will she have to pay in taxes for this employee benefit annually? (Round your final answer to 2 decimal places.)
Sophie Gowna, 47 years old, works for an Ontario company with a Bi-weekly pay cycle. She earns $18.5 per hour and receives over-time paid at time and a half for any hours worked over 44 in a week. Sophie has worked 92 hours in this pay period. She receives $100 of cash gifts and awards in this pay and 4% vacation in each pay. She also receives $85 of monthly cash automobile allowances for compensating the kilometres driven for business use of her personal vehicle. The company paid $45 life insurance premium per month to Sunlife Insurance for all employees, and paid $55 cell phone service fees to Bell Canada for her personal use. Sophie pays $15 per month in union dues and contributes 5% of her regular hours’ wage to a Registered Retirement Savings Plan each pay cycle. What is Sophie's Pensionable earnings for this pay cycle?
Sophie Gowna, 47 years old, works for an Ontario company with a Bi-weekly pay cycle. She earns $18.5 per hour and receives over-time paid at time and a half for any hours worked over 44 in a week. Sophie has worked 92 hours in this pay period. She receives $100 of cash gifts and awards in this pay and 4% vacation in each pay. She also receives $85 of monthly cash automobile allowances for compensating the kilometres driven for business use of her personal vehicle. The company paid $45 life insurance premium per month to Sunlife Insurance for all employees, and paid $55 cell phone service fees to Bell Canada for her personal use. Sophie pays $15 per month in union dues and contributes 5% of her regular hours' wage to a Registered Retirement Savings Plan each pay cycle. What is Sophie's gross earnings for this pay cycle? $ 1,847.79 $ 1,928.56 $ 1,947.79 $ 1,808.56
Sophie Gowna, 47 years old, works for an Ontario company with a Bi-weekly pay cycle. She earns $18.5 per hour and receives over-time paid at time and a half for any hours worked over 44 in a week. Sophie has worked 92 hours in this pay period. She receives $100 of cash gifts and awards in this pay and 4% vacation in each pay. She also receives $85 of monthly cash automobile allowances for compensating the kilometres driven for business use of her personal vehicle. The company paid $45 life insurance premium per month to Sunlife Insurance for all employees, and paid $55 cell phone service fees to Bell Canada for her personal use. Sophie pays $15 per month in union dues and contributes 5% of her regular hours' wage to a Registered Retirement Savings Plan each pay cycle. What is Sophie's insurable earnings for this pay cycle? A D. S 1,954.71 (B) A. $ 1,908.56 C C.S 1,993.94 D B. $ 1,973.18 Last saved 1:32:5
Connor has an annual salary of $43,000, and his company pays him twice a month. How much is withheld for FICA on each paycheck that Connor receives?
Tiffani Lind earned $1,200 during her biweekly pay period. She is married filing jointly. Her annual earnings to date are $52,800. Calculate her net pay. Note: Round your answer to the nearest cent. Net pay

SEE MORE QUESTIONS

Recommended textbooks for you

College Accounting, Chapters 1-27 (New in Account…

Accounting

ISBN:

9781305666160

Author:

James A. Heintz, Robert W. Parry

Publisher:

Cengage Learning

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781305084087

Author:

Cathy J. Scott

Publisher:

Cengage Learning

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781337280570

Author:

Scott, Cathy J.

Publisher:

South-Western College Pub

College Accounting, Chapters 1-27 (New in Account…

Accounting

ISBN:

9781305666160

Author:

James A. Heintz, Robert W. Parry

Publisher:

Cengage Learning

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781305084087

Author:

Cathy J. Scott

Publisher:

Cengage Learning

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781337280570

Author:

Scott, Cathy J.

Publisher:

South-Western College Pub

SWFT Comprehensive Volume 2019

Accounting

ISBN:

9780357233306

Author:

Maloney

Publisher:

Cengage

SWFT Essntl Tax Individ/Bus Entities 2020

Accounting

ISBN:

9780357391266

Author:

Nellen

Publisher:

Cengage

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

SEE MORE TEXTBOOKS

Charles earns an annual salary of $72,100 paid biweekly based on a regular workweek of 36.25 hours. His company generously pays all overtime at twice his regular wage. If Charles worked 85.5 hours over the course of two weeks, what are his gross earnings?