General Accounting Question please solve Justin is a salaried exempt working with a contract thatstipulates 40 hours per week at $60,000 per year. Thisweek there was a company-paid holiday for 2 days. ForJustin's pay: (Do not round intermediate calculations andround your final answers to 2 decimal places.)Regular PayHoliday PayGross Pay

Calculation of Weekly SalaryWeekly Salary = Annual Salary / 52 = $60,000 / 52 = $1,153.8462(Note:…

Answered: Justin is a salaried exempt working…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 1PB

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Accounting for bonus and vacation pay Cathy Muench a factory worker, earns 1,000 each week. In addition, she will receive a 4,000 bonus at year-end and a four-week paid vacation. Prepare the entry to record the weekly payroll and the costs and liabilities related to the bonus and the vacation pay, assuming that Muench is the only employee.
Need answer the accounting question
H. Diana works for Blair Tool in Toronto, Ontario. Her hourly rate is $30 per hour. She worked 90 hours for past two weeks she gets paid bi-weekly and she is eligible for 2 hours overtime. For public holiday calculation, her previous two 8l-weekly pay is $5000. She also received a gift cerficate $10. Please calculate the CPP, EI, ITX for her bi-weekly pay including Vacaction pay. Her Fed TD1 is 22,908, ONT TD1 is 15,354. Date
Financial Accounting
Diana works for blair tool in Toronto, Ontario. Her hourly rate is $30 per hour. She worked 90 hours fir past two weeks, she gets paid bi-weekly and she is eligible for 2 hours overtime. For public holiday calculation, her previous two Bi-weekly pay is $5000. She also received a gift cerficate $10. please calculate the CPP, EI,ITX for her bi-weekly pay including vacation pay. Her fed TD1 is 22,908, ONT TD1 is 15,354.
Your monthly salary is $4,160 and your pay period changed to a bi-weekly pay. You work 40 hours per week and are paid 1.5 times (one and a half) your hourlywage for overtime. a. Find your new bi-weekly pay. Round to the nearest cent b. Calculate your hourly rate of pay for your standard work week and hourly rate. your overtime Standard hourly rate: Overtime hourly rate: Round to the nearest cent c. If you worked 43 hours one week and 47 hours the next week, whatwould your total pay be in that bi-weekly pay period? Round to the nearestcent
Edward Dorsey is a part-time employee, and during the biweekly pay period he earned $395. In addition, he is being paid a bonus of $300 along with his regular pay. If Dorsey is single and claims two withholding allowances, how much would be deducted from his pay for FIT? Hint: There are two ways to determine his deduction—do not use tables for percentage method. a. Wage-bracket table $ b. Percentage method
Thomas Martin receives an hourly wage rate of $15, with time-and-a-half pay for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $370; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the gross pay for Martin? Round your answer to the nearest whole dollar. Oa. $720 Ob. $780 Oc. $1,080 Od. $1,440
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Thomas Martin receives an hourly wage rate of $17, with time-and-a-half pay for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $324; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the gross pay for Martin? Round your answer to the nearest whole dollar. O a. $1,564 O b. $782 O c. $833 O d. $1,173
Rai's base pay rate is $11 per hour, with overtime pay of time-and-a-half, and double-time for holidays. Calculate her gross pay if she worked 6 holiday hours in addition to 39.5 hours Monday through Saturday. (Round your answer to the nearest cent.) a) $434.50 b) $500.50 c) $533.50 d) $566.50
Sadie White receives an hourly rate of $30, 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, 48; federal income tax withheld, $300; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the net amount to be paid to White? $1,560 $1,260 $1,443 $1,143

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