Latanya Brown is an employee of Giant Computers, where her job responsibilities include selling computers and software to customers. Latanya is married filing jointly with two dependents under 17. She receives an annual salary of $42,000 and receives a 3 percent commission on all sales. During the semimonthly pay period ending September 30, 2021, Latanya sold $20,000 of computers and software. Required: Complete the payroll register for the September 30 pay period with a pay date of October 5. Company Name: P/R End Date: Check Date: Name Latanya Brown 9/30/2021 10/5/2021 Filing Status MJ Dependents 2<17 Hourly Rate or Period Wage Number of Regular Hours Giant Computers Number of Regular Overtime Hours Commissions Earnings Overtime Earnings Gross Earnings

Latanya Brown is an employee of Giant Computers, where her job responsibilities include selling computers and software to customers. Latanya is married filing jointly with two dependents under 17. She receives an annual salary of $42,000 and receives a 3 percent commission on all sales. During the semimonthly pay period ending September 30, 2021, Latanya sold $20,000 of computers and software. Required: Complete the payroll register for the September 30 pay period with a pay date of October 5. Company Name: P/R End Date: Check Date: Name Latanya Brown 9/30/2021 10/5/2021 Filing Status MJ Dependents 2<17 Hourly Rate or Period Wage Number of Regular Hours Giant Computers Number of Regular Overtime Hours Commissions Earnings Overtime Earnings Gross Earnings

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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Marbury is the payroll accountant at All's Fair Gifts. The employees of All's Fair Gifts are paid semimonthly. Sten comes to Marbury on April 7 and requests a pay advance of $1,000, which Sten will pay back in equal parts on the April 15 and May 15 paychecks. Sten is single, with one dependent under 17, is paid $54,000 per year, contributes 3 percent of gross pay to a 401(k), and has $130 per paycheck deducted for a Section 125 plan. Required: Compute the net pay on Sten's April 15 paycheck. The applicable state income tax rate is 5.25 percent. Use the wage-bracket method for manual payroll systems with Forms W-4 from 2020 or later in Appendix C to determine the federal income tax. Assume box 2 is not checked. Note: Round your intermediate calculations and final answer to 2 decimal places. Net pay
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For large repair jobs, Joe the Plumber requires his customers to put down a 20% deposit one week in advance of the work’s completion. On January 15th, Joe receives $100 from a customer as a deposit for work to be later completed. What is the associated journal entry for this transaction?
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