Brandon, the Manager, who earns a salary of $52,000 per year or$1,000 per week,Clarissa, the Sales Coordinator, who is paid $20 per hour, andDavid, the Shipper, who is paid $.20 per package shipped.Alan pays his employees every week and, this past week, Brandonworked all five scheduled days, Clarissa worked fifty (50) hours, andDavid shipped 4,500 packages. Record/journalize the employees'payroll entry (pay attention to what's asked for) by function(Management Salary Expense, Sales Wage Expense, & ShippingWage Expense) now for the paychecks that will be issued thiscoming Friday, which will be the first time the employees are paid thiscalendar year.All the employees want 20% of their earnings withheld for FederalIncome Tax purposes.The tax rates are:6.2%FICA Social SecurityState Unemployment5.4%Medicare1.45%Federal Unemployment 0.6%Book the taxes you withhold as one entry for all three employees, notseparate entries for each employee.

Salary expenses are as follows Brandon as a manager get the salary from the company $1000 per week…

Clarissa, the Sales Coordinator, who is David, the Shipper, who is paid $.20 pe Alan pays his employees every week ar worked all five scheduled days, Clariss= David shipped 4,500 packages. Recore payroll entry (pay attention to what's as Management Salary Expense, Sales V Nage Expense) now for the paychecks coming Friday, which will be the first tim calendar year. All the employees want 20% of their ea

Clarissa, the Sales Coordinator, who is David, the Shipper, who is paid $.20 pe Alan pays his employees every week ar worked all five scheduled days, Clariss= David shipped 4,500 packages. Recore payroll entry (pay attention to what's as Management Salary Expense, Sales V Nage Expense) now for the paychecks coming Friday, which will be the first tim calendar year. All the employees want 20% of their ea

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Alan’s Affordable Running Products aka AARP has three employees: Brandon, the Manager, who earns a salary of $52,000 per year or $1,000 per week, Clarissa, the Sales Coordinator, who is paid $20 per hour, and David, the Shipper, who is paid $.20 per package shipped. Alan pays his employees every week and, this past week, Brandon worked all five scheduled days, Clarissa worked fifty (50) hours, and David shipped 4,500 packages. Record/journalize the employees’ payroll entry (pay attention to what’s asked for) by function (Management Salary Expense, Sales Wage Expense, & Shipping Wage Expense) now for the paychecks that will be issued this coming Friday, which will be the first time the employees are paid this calendar year. All the employees want 20% of their earnings withheld for Federal Income Tax purposes. The tax rates are: FICA Social Security 6.2% State Unemployment 5.4% Medicare…
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This is Salary calculation
Brendan is an hourly worker. During a week pay period, he worked the following hours and minutes: Days Hours minutes Monday 8 45 Tuesday 7 52 Wedbesday 8 0 Thursday 9 36 Friday 8 24 Usig the quarterly-hour method, how many total hours dd Brandon work tht week?
Sara Simpson worked 45 hours last week at $26.75 per hour. Her company pays time and a half overtime for all hours over 40 per week. Find her gross earning for the wee. Round to the cents place or hundredths place.
9. You are a computer technician for Data Control. You earn a regular hourly rate of $15.40. You earn time and a half for work on Saturdays and double time on Sundays. This week you worked 38 hours from Monday through Friday, 8 hours on Saturday, and 5 hours on Sunday. What is your total pay for the week? HALGERI 40-hour work week. Her for a reguler pay 1or any hours over 40 per
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The following information is available for the employees of Webber Packing Company for the first week of January Year 1 1. Kayla earns $26 per hour and 1½ times her regular rate for hours over 40 per week. Kayla worked 50 hours the first week in January. Kayla’s federal income tax withholding is equal to 11 percent of her gross pay. Webber pays medical insurance of $57 per week to a retirement plan for her. 2. Paula earns a weekly salary of $1,150. Paula’s federal income tax withholding is 17 percent of her gross pay. Webber pays medical insurance of $145 per week for Paula and contributes $135 per week to a retirement plan for her. 3. Vacation pay is accrued at the rate of 2 hours per week (based on the regular pay rate) for Kayla and $75 per week for Paula. Assume the Social Security tax rate is 6 percent on the first $110,000 of salaries and the Medicare tax rate is 1.5 percent of total salaries. The state unemployment tax rate is 5.4 percent and the federal unemployment…
Jill Cole’s regular rate of pay is $ 10 per hour with one and one-half times her regular rate for any hours that exceed 44 hours per week. She worked 52 hours last week. Her gross wages were * $ 520. $ 440. $ 560. $ 880.
Jerri's Mason Supply Company has four employees who are paid on a weekly basis receiving time and a half for working more than 40 hours in any one week. The payroll data for the week ended December 10 is as follows: Name # ofAllowances MaritalStatus TotalHours Rate CumulativeEarnings B. Russo 0 S 44 $ 8.00 $ 8,300 P. Higgins 1 M 46 28.00 52,176 S. Minsky 2 S 40 9.00 18,560 A. Mendez 4 M 40 34.00 86,000 Social Security tax is withheld at 6.2% and Medicare tax at 1.45%. Each employee that is single has $40 withheld for health insurance and each that is married has $70 withheld. Higgins has $25 withheld for United Way. Number the checks beginning with 803. (Refer to Figure 8-4a and Figure 8-4b.) Required: 1. Complete the payroll register. Round your answers to the nearest cent. 2. Journalize the payroll entry. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank.
Avon Corporation sells phone cases to public and private companies. They are located at 123 Locus Rd, Markham, ON. They employ 200 full time employees who work in sales, customer service and office support roles. They have had an annual remuneration of over $1,000,000 for the past several years therefore their EHT rate is 1.95%. Pay period #1 started December 27, 2020. All are paid on a bi-weekly basis. All benefits are processed each pay on an as enjoyed basis. The first pay day for employees is Jan 13, 2021. They have three staff in the Customer Service Department answering questions from clients and the general public. They all work Monday to Friday and do not work statutory holidays but are paid for them. Neema has been with Avon for 3 years and answers calls specifically from clients. She earns $18.25 per hour and works 35 hours per week. She also does not work any overtime. She is paid bi-weekly. Her employer provides the following: · Health and Dental - at a total…
required: please answer this question by calculating the gross pay and net pay .