During 2019, Lincoln Company hires 23 individuals who are certified to be members of a qualifying targeted group. Each employee works in excess of 600 hours and is paid wages of $14,350 during the year. Determine the amount of Lincoln's work opportunity credit.
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During 2019, Lincoln Company hires 23 individuals who are certified to be members of a qualifying targeted group. Each employee works in excess of 600 hours and is paid wages of $14,350 during the year.
Determine the amount of Lincoln's work opportunity credit.
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- An employee receives an hourly rate of $25, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $350.00; social security tax rate, 6.0% on all earnings; and Medicare tax rate, 1.5% on all earnings. What is the net pay amount to be paid the employee? Group of answer choices $783.12 $857.00 $875.00 $1,113.14Bridgeport Corp. enters into a contract with a customer to build an apartment building for $921,300. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $156,000 to be paid if the building is ready for rental beginning August 1, 2018. The bonus is reduced by $52,000 each week that completion is delayed. Bridgeport commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by Probability August 1, 2018 70 % August 8, 2018 20 August 15, 2018 6 After August 15, 2018 4 Determine the transaction price for this contract.Kevin Kurtz is a newly hired exempt employee who earns an annualsalary of $67,600. Since he started work on Thursday (5-day week endson Friday), his pay for the first week of work would be
- Dixon Sales has five sales employees that receive weekly paychecks. Each earns $10 per hour and each has worked 40 hours in the pay period. Each employee pays 12% of gross in federal income tax, 3% of gross in state income tax, 6% of gross in social security tax, 1.5% of gross in Medicare tax, and 0.5% of gross in state disability insurance. Required: Journalize the recognition of the pay period ending January 19 which will be paid to the employees January 26. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to two decimal places. CHART OF ACCOUNTS Dixon Sales General Ledger ASSETS 110 Cash 111 Accounts Receivable 112 Interest Receivable 113 Notes Receivable 115 Inventory 116 Supplies 118 Prepaid Insurance 120 Land 123 Building 124 Accumulated Depreciation-Building 125 Office Equipment 126 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 213…Latan is an employee of Giant Computers where the job responsibilities include selling computers and software to customers. Latan is married filing jointly with two dependents under 17. The annual salary is $49,200 and receives a 3 percent commission on all sales. During the semimonthly pay period ending September 30, Latan sold $21,200 of computers and software. Required: Complete the payroll register for the September 30 pay period with a pay date of October 5. P/R End Date: Check Date: Latan Totals Name 9/30/2022 10/5/2022 Filing Status Dependents Hourly Rate or Period Wage Company Name: Number of Regular Hours Number of Overtime Hours Giant Computers Commissions $ 0 Regular Earnings $ 0 Overtime Earnings Gross Earnings $Tax Drill - Work Opportunity Credit During 2020, Lincoln Company hires seven individuals who are certified to be members of a qualifying targeted group. Each employee works in excess of 600 hours and is paid wages of $7,500 during the year. Lincoln Company's work opportunity credit is $
- Can I do a general journal entry on this scenario, if so how do i do it? Master Flow’s first employee, Emma Stone starts at the Company. She will be responsible for Warehouse Management. She will be paid $20 / Hour. Emma works 30 Hours / Pay Period (every two weeks). The pay period ends on 12-31-20. Emma’s Federal Tax Withholding is $50, based on her W4, and all other standard payroll taxes apply at their appropriate rates. She does not receive benefits and does not have any contributions of any type withheld from her pay.Sheffield Company began operations on January 2, 2019. It employs 11 individuals who work 8-hour days and are paid hourly. Each employee earns 13 paid vacation days and 8 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows. Actual HourlyWage Rate Vacation Days Usedby Each Employee Sick Days Usedby Each Employee 2019 2020 2019 2020 2019 2020 $13 $14 0 11 5 6 Sheffield Company has chosen not to accrue paid sick leave until used, and has chosen to accrue vacation time at expected future rates of pay without discounting. The company used the following projected rates to accrue vacation time. Year in Which VacationTime Was Earned Projected Future Pay RatesUsed to Accrue Vacation Pay 2019 $13.65 2020 14.73…Brianna Whitman works for Schaum, Whitney, & Matte, LLP, in Washington, D.C., which pays employees on a biweekly basis. Brianna's annual salary is $163,600. The company started in 2021. Required: Calculate the following: (Do not round intermediate calculations. Round your answers to 2 decimal places.) Pay Period End September 24 December 31 Prior YTD Earnings Social Security Taxable Wages Medicare Taxable Wages Employer Share Social Security Tax Employer Share Medicare Tax
- Determine the gross pay for each employee listed below. When necessary, round intermediate calculations and the final answer to the nearest cent. Nicole Smith's yearly salary is $87,360.00. During the week, Smith worked 42 hours, and she is entitled to time-and-a-half for all hours over 40.William Corp. enters into a contract with a customer to build an apartment building for $1,056,300. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $136,200 to be paid if the building is ready for rental beginning August 1, 2026. The bonus is reduced by $45,400 each week that completion is delayed. William commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by August 1, 2026 August 8, 2026 August 15, 2026 After August 15, 2026 Transaction price $ Probability LA 70 % 20 Determine the transaction price for this contract. 5 5 SUPPORTAnderson Corp. enters into a contract with a customer to build an apartment building for $995,600. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $145,500 to be paid if the building is ready for rental beginning August 1, 2026. The bonus is reduced by $48,500 each week that completion is delayed. Anderson commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by Probability August 1, 2026 70 % August 8, 2026 20 August 15, 2026 5 After August 15, 2026 5 Determine the transaction price for this contract. Transaction price