Tutor please provide answer Kenny and Olivia are shop assistants. Kennyreceives a weekly wage of $350 plus a commissionof $0.12 in the pound on goods sold. Duringweek, Kenny sold goods worth $2,100. Thefollowing are deductions from hisgross earnings:•Pension contribution of 6.5% of gross earnings. Income tax of $75Calculate Kenny's net earnings for the week.

Explanation of Net Earnings:Net Earnings refer to the actual amount an employee receives after all…

Answered: Kenny and Olivia are shop assistants.…

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

See similar textbooks

Similar questions

Lori Kinmark works as a jeweler for a local company. She earns 1,000 per week, plus a year-end bonus of 2,000. Kinmark also earns an additional net self-employment income of 28,000 per year. ____1.Compute Kinmarks annual earnings from employment. ____2.Compute Kinmarks total earnings from her job and from self-employment income. ____3.How much self-employment income should Kinmark include in computing taxable self-employment income for OASDI taxes? ____4.What are the total FICA taxes on her self-employment earnings?
Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.
During the year, employee Sean Matthews earned wages in the amount of 250,000. Discuss how the employees HI tax will differ from the employers HI tax for this employee.
Provide net earnings for the week
Calculate kelvin net earning for the week
Martin Jackson receives an hourly wage rate of $17, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 45; federal income tax withheld, $351; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the net amount to be paid to Jackson? a.$807.50 b.$1,118.44 c.$395.94 d.$1,086.94
Kelvin and Emma are shop assistants solve this question
An employee earns $16 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. If the employee worked 50 hours during the week. Assume that the social security tax rate is 6.0%, the Medicare tax rate is 1.5%, and the employee’s federal income tax withheld is $202. a. Determine the gross pay for the week.fill in the blank 1 of 2$ b. Determine the employee’s net pay for the week. When required round interim computations to two decimal places. Round your final answer to two decimal places.fill in the blank 2 of 2$
Thomas Martin receives an hourly wage rate of $25, with time and a half 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, $308; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the gross pay for Martin? a.$1,300 b.$1,800 c.$2,400 d.$1,200
Thomas Martin receives an hourly wage rate of $30, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 43; federal income tax withheld, $250; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the net amount to be paid to Martin? Answer a. $984.87 b. $1,200 c. $1,335 d. $350.13
Calculation of Take-Home Wages (Accounting for Liabilities). Lina Lu is an hourly worker who earns $50 per hour. During the prior week, Lina worked 40 hours. The FICA rate is 6.2% and Medicare Rate is 1.45%. Lina's total wages for this payroll are subject to the aforementioned taxes. In addition, she had deductions of $280 for federal income tax and $80 for insurance contribution. What is her net pay? Can you please show how you came to this answer? Thank you!
Peter works for Company G and gets paid monthly. He made $8,500 throughout the month of January. Each calendar year, the social security tax is 6.2 percent of the first $137,700 of employee earnings, and the Medicare tax is 1.45 percent of all wages. From All Earnings, the FUTA tax rate of.6 percent is imposed. The SUTA tax rate of 5.4 percent is applied to an employee's first $6,000 of salary. Scott's earnings were subject to a $1,325.17 federal income tax withholding. Peter monthly net compensation is:

SEE MORE QUESTIONS

Recommended textbooks for you

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781337280570

Author:

Scott, Cathy J.

Publisher:

South-Western College Pub

PAYROLL ACCT., 2019 ED.(LL)-TEXT

Accounting

ISBN:

9781337619783

Author:

BIEG

Publisher:

CENGAGE L

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781305084087

Author:

Cathy J. Scott

Publisher:

Cengage Learning

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781337280570

Author:

Scott, Cathy J.

Publisher:

South-Western College Pub

PAYROLL ACCT., 2019 ED.(LL)-TEXT

Accounting

ISBN:

9781337619783

Author:

BIEG

Publisher:

CENGAGE L

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781305084087

Author:

Cathy J. Scott

Publisher:

Cengage Learning

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

College Accounting, Chapters 1-27 (New in Account…

Accounting

ISBN:

9781305666160

Author:

James A. Heintz, Robert W. Parry

Publisher:

Cengage Learning

CONCEPTS IN FED.TAX., 2020-W/ACCESS

Accounting

ISBN:

9780357110362

Author:

Murphy

Publisher:

CENGAGE L

SEE MORE TEXTBOOKS