êTextbookentCALCULATORFULL SCREENPRINTER VERSION| ВАCKNEXT640650554433251810650660564534261911466067058473527201256706805948372821136.6806906150382922146907006251403023158(a)Compute the following amounts for Maria's wages for the current week. (Round FICA taxes, State income taxes and Net pay answersto 2 decimal places, e.g. 52.55.)(1) Gross earnings.$(2) FICA taxes. (Assume a 7.65% rate on maximum of $127,200.)$4(3) Federal income taxes withheld.2$(4) State income taxes withheld. (Assume a 2.0% rate.)$1(5) Net pay.$4Attempts: 0 of 15 usedSUBMIT ANSWERSAVE FOR LATERVersion 4.24.21.1Policy I © 2000-2021 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc.O o o o oO o O oO O O O CO O O O O mentCALCULATORFULL SCREENPRINTER VERSION(BACKNEXTExercise 11-09 a-b (Part Level Submission)Maria Garza's regular hourly wage rate is $16, and she receives a wage of 1½ times the regular hourly rate for work in excess of 40 hours.During a March weekly pay period, Maria worked 42 hours. Her gross earnings prior to the current week were $6,000. Maria is married andclaims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $25 per week.MARRIED Persons - WEEKLY Payroll Period(For Wages Paid through December 2017)If the wages are –And the number of withholding allowances claimed isAt leastBut less134810thanThe amount of income tax to be withheld is -50051034271911452035282012510530372921136.520540383022147530550403123158540560413224169.155057043332517105604434261811357058059046352719124580473628201359060049382921146600610503930221570.6106205241312316816206305342322417630640554433251810S50Version 4.24.21.1rivacy Policy | © 2000-2021 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc.48,439APRO o o oO o o oO o o oO o o oO O o o oO o o oo o o OO O O OO o o O OO o o oO O O O8 o o o O oO o O o on 9 o o o o o

A payroll sheet records the payroll accounts for employees. It starts with the gross pay and…

Compute the following amounts for Maria's wages for the current week. (Round FICA taxes, State income taxes and Net pay answers to 2 decimal places, e.g. 52.55.) (1) Gross earnings. $1 (2) FICA taxes. (Assume a 7.65% rate on maximum of $127,200.) $1 (3) Federal income taxes withheld. $1 (4) State income taxes withheld. (Assume a 2.0% rate.) $4 (5) Net pay. $1

Compute the following amounts for Maria's wages for the current week. (Round FICA taxes, State income taxes and Net pay answers to 2 decimal places, e.g. 52.55.) (1) Gross earnings. $1 (2) FICA taxes. (Assume a 7.65% rate on maximum of $127,200.) $1 (3) Federal income taxes withheld. $1 (4) State income taxes withheld. (Assume a 2.0% rate.) $4 (5) Net pay. $1

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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H1. Account
Journalize payroll taxThe payroll register of Heritage Co. indicates $4,200 of social security withheld and $1,050 of Medicare tax withheld on total salaries of $70,000 for the period. Earnings of $12,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% andthe state rate of 5.4%. Journalize the entry to record the payroll tax expense for the period.
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Po.7.
For the first week of 2022, Coby Co. pays wages of $6,000 and withholds $1,000 for federal income taxes and $400 for state income taxes. The combined FICA and Medicare tax rate is 7.65%. The FUTA rate is 0.8% and the SUTA rate is 5.4% Record the payroll. Record the payroll tax.
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ournalize Payroll Tax The payroll register of Patel Heritage Co indicates $1,986 of social security withheld and $496.50 of Medicare tax withheld on total salaries of $33,100 for the period. Earnings of $9,600 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal places. Payroll Tax Expense Payroll Tax Expense Social Security Tax Payable Social Security Tax Payable Medicare Tax Payable Medicare Tax Payable State Unemployment Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable Federal Unemployment Tax Payable
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