How much is his total deductions? *How much is his gross pay? * Employee DetailsEmployee Name: Miguel CabreraEmployee ID: 12345Hire Date: 11 October 2021Bank Account numben 12345678Department SalesTob Title: Sales ManagerPaymentsTaxable IncomeBasic SalaryCommissionOver time payGross Taxable IncomeDeductionsSSS ContributionPag-ibig ContributionPL125100770P1,995PhilHealthdeductionSSS DeductionP44,00037,50010,000P91,500PhalHealth ContributionTotalPag-ibigdeductionNon-Taxable IncomeBIR Withholding Tax ComputationGross Taxable IncomeLess: Total DeductionsTaxable IncomeTax DueP91,5001,995P89,50517,684.73Rice AllowanceLaundry AllowanceClothing AllowanceTransportation AllowanceTotal Non-Taxable Income2,000250502.000P4,750Net payTаx dueNET PAYTaxable IncomeMiguel Cabrera's Particulars ofSalaryNon-Taxable IncomeLess: Tax DueP09,50S4,75017,684.73SSS Deduction Pag-ibig deduction PhiHealth deduction Tax due Net payNet payP76,570.27

Based on the given information, Total Deductions=P1,125+P100+P770=P1,995

Employee Details Employee Name: Miguel Cabrera Employee ID: 12345 Hire Date: 11 0ctober 2021 Bank Account number 12345678 Department: Sales Llob Title: Sales Manager Payments Taxable Income Basic Salary Commission Over time pay Gross Taxable Income Deductions SSS Contribution Pag-ibig Contribution PhảlHealth Contribution P1125 PhilHealth deduction SSS Deduction P44,000 37,500 10,000 P91,500 100 770 Total P1,995 Pag-ibig deduction Non-Taxable Income BIR Withholding Tax Computation Gross Taxable Income P91,500 1.995 P89,505 17,684.73 Rice Allowance Laundry Allowance Clothing Allowance Transportation Allowance 2,000 250 50 Less: Total Deductions Taxable Income Tax Due Net pay Tax due 2.000 P4,750 Total Non-Taxable Income Miguel Cabrera's Particulars of Salary NET PAY Taxable Income P09,50S Non-Taxable Income Less: Tax Due 4,750 17,684.73 sSS Deduction Pag-ibig deduction PhIHealth deduction Tax due Net pay Net pay P76,570.27

Employee Details Employee Name: Miguel Cabrera Employee ID: 12345 Hire Date: 11 0ctober 2021 Bank Account number 12345678 Department: Sales Llob Title: Sales Manager Payments Taxable Income Basic Salary Commission Over time pay Gross Taxable Income Deductions SSS Contribution Pag-ibig Contribution PhảlHealth Contribution P1125 PhilHealth deduction SSS Deduction P44,000 37,500 10,000 P91,500 100 770 Total P1,995 Pag-ibig deduction Non-Taxable Income BIR Withholding Tax Computation Gross Taxable Income P91,500 1.995 P89,505 17,684.73 Rice Allowance Laundry Allowance Clothing Allowance Transportation Allowance 2,000 250 50 Less: Total Deductions Taxable Income Tax Due Net pay Tax due 2.000 P4,750 Total Non-Taxable Income Miguel Cabrera's Particulars of Salary NET PAY Taxable Income P09,50S Non-Taxable Income Less: Tax Due 4,750 17,684.73 sSS Deduction Pag-ibig deduction PhIHealth deduction Tax due Net pay Net pay P76,570.27

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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Eaton enterprises uses the wage-bracket method to determine federal income tax withholding on its employees. Find the amount to withhold from wages paid each employees.
Transactions for you to complete 1) Create A Supplier Account. Supplier: Ink Inspector Address: Oakville, ON Terms: N30 Exp acct: 5250 Licenses Tax Code: HI (HST @ 13%, included) 2) Create A Customer Account. Client: Noya Modeling Agency Terms: 1/15, N30 Address: Hamilton, ON Tax Code: H (HST @13%) Rev acct: 4050 Rev from services Credit Limit: $10,000 Change the Session Date to April 8, 2022 3) Enter the following transactions into Sage. Purchase Invoice #GB-806 Dated April 4 from Germ Busters; $3,750, plus HST for new sterilization equipment (add freight charges of $225 + HST). (Pay attention to the words! This is not sterilized needles; this is for sterilization equipment. You need to change the account number.) Sales Invoice Dated April 4 to Noya Modeling Agency $8,000, plus HST for laser treatments to remove tattoos on new models hired in the agency. Credit Card Sales Invoice Dated April 4 to One-Time walk-in clients. Sales Summary: $1,420, plus HST for laser treatments. Payment…
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Payroll Factory Sales Administrative Total Wages Due $126,000 40,000 38,000 $204,000 FICA $126,000 40,000 38,000 $204,000 Amount Subject to Payroll Taxes Unemployment Tax State Federal $43,000 5,000 $48,000 $43,000 5,000 $48,000 At this point in the year, some employees have already received wages in excess of those to which payroll taxes apply. Assume that the state unemployment tax is 2.5%. The FICA rate is 7.65% on an employee's wages to $142,800 and 1.45% in excess of $142,800. Of the $204,000 wages subject to FICA tax, $20,000 of the sales wages is in excess of $142,800. Federal unemployment tax rate is 0.8% after credits. Income tax withheld amounts to $16,300 for factory, $6,900 for sales, and $5,800 for administrative.
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S eBook Ask Print eferences Mc Graw Hill :: -WKCTC_....txt FI 2 W S KMH Industries is a monthly schedule depositor of payroll taxes. For the month of August 2021, the payroll taxes (employee and employer share combined) were as follows: X Social Security tax: $5,056.78 Medicare tax: $1,182.63 Employee Federal income tax: $3,960.00 Required: Create the General Journal entry for the remittance of the taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to 2 decimal places.) View transaction list A Journal entry worksheet 4² Record the remittance of August payroll taxes. Note: Enter debits before credits. # 3 1 E D Data C 8.0 F3 $ 4 JUL 22 R F a F4 V General Inurnal % 5 T F5 G 8 DII FB M 1 ( 9 K ران DD F9 O ) O A F10 L P Ⓡ command C F11 - 9 F12 option
DATE OF PAY PERIOD ENDING 20- 20 PAYMENT NET СК. EARNINGS DEDUCTIONS EMPLOYEE MAR. TOTAL NAME ALLOW RATE SOC. SEC. FED. INC. STATE INC. HOSP. INS OTHERS TOTAL PAY NO. NUMBER STATUS HOURS REGULAR OVERTIME TOTAL MED. TAX TAX TAX TAX 10 2 3 6. 9. 10 11 10 12 11 13 14 13 15 14 16 17 15 18 16 17 18 25 12 7.
DIRECTIONS 1 Journalize the entry to RECORD the payroll 2 Journalize the entry to RECORD the employer's payroll taxes (SUTA rate is 3.7%) 3 Journalize the entry to deposit the FICA and FIT taxes TOTAL EARNINGS FICA OASDI FICA HI FIT W/H STATE TAX UNION DUES NET PAY $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 1 JOURNAL DATE DESCRIPTION DEBIT CREDIT 2 JOURNAL DATE DESCRIPTION DEBIT CREDIT…
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Question text The totals from the first payroll of the year are shown below. Total Earnings FICA OASDI FICA HI FIT W/H State Tax Union Dues Net Pay $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 Journalize the entry to deposit the FICA and FIT taxes.
Review your friend Johnny's weekly paystub/earning's statement and answer questions #1 -4 that follow it. 121213 EARNINGS STATEMENT Pay Perlod: 2018 - 042018 Abstract United Jamaica, NY. 11433, USA Pay Date 0O2018 Employee 2214 Johnny Brave Marital Status Single Exemptions: 0 Jamaica NY. 4564I, USA Secial Security ss6 bEDUCTIONS YTD TOTAL B1.20 347 20 631.40 2.00 EARNINGS RATE 10 HOURS TOTAL 400.00 0.00 0.00 0.00 0.00 0.00 YTD TOTAL TOTAL 5.600.00 Salary Overtime Holiday Vacatin Bonus Ploat Fica- Medicare Fica- Social Secunty Federal Tax State Ta 0.00 240 45.10 2000 0.00 0.00 00 0.00 DEDUCTION TOTAL 95.70 GROSS PAY 400.00 S00.00 NET PAY 30430 420.20 1. For the one week pay period ending 04/03/2018, what is Johnny's gross pay? (Section 4.2) Page 9 2. How much was deducted for federal income tax in this pay period? (Section 4.2) 736 DM