okkintencesaw11Problem 4-9A (Static)Joy Warren is an employee at Jankoski Cycles. She earns a salary of $37,765 annually, paid semimonthly. She contributes to thefollowing fringe benefits and other deductions:• Medical insurance: $220 per pay period.• Dental insurance: $15 per pay period401(k): 6 percent of gross pay.• Additional withholding: $125 per monthRequired:What is the total annual amount of Joy's fringe benefits and other deductions? (Round your answers to 2 decimal places.)Medical insuranceDental insurance401(k)Additional withholdingTotal annual amount of Joy's fringe benefits and other deductionsEFringe benefitsR▬▬▬▬▬ Q SearchBYH< Prev7NU10 of 10L8AmountNext(DELLHelp Save aPCH

Answered: -ok k int ences = aw 11 Problem 4-9A…

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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BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. a. b. c. Gross Pay through August 31 $ 6,400 2,700 133,300 Gross Pay for September $1,700 2,800 9,900 Assuming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its related liabilities. Complete this question by entering your answer in the tabs below. Employer Payroll taxes Payroll Taxes General Journal Expense Assuming situation (a), compute the payroll taxes expense. (Round your answers to 2 decimal places.) September earnings subject to tax Tax Rate
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CENU COC Marty and Dee have 2 qualifying children for the child and dependent care credit. They paid $5,200 for their eligible work-related expenses. Marty's W-2 shows $56,720 in wages box 1. Dee was a full-time student for 10 months. The dollar limit for their work-related childcare expenses is. Select one: O a $2,500 b. $3,000 c. $5,200 d. $8,000 - e. None of these 4 ~nd bör danskt- Pinde ---- to non Powered by TOPY 2008-2023 Interactyx Limited. All rights reserved. Statement of Rights and Responsibilities
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2. David Herbert earns $2,475 a month as a security guard for Baldwin Enterprises. His group medical insurance costs $6,600 a year. The company pays 80% of the cost of group insurance. a. Find the percent paid by David. b. How much is deducted each month from his paycheck for medical insurance? All rights reserved.
1. The contribution limit for a Payroll Deduction IRA increases once an employee reaches _____ years of age. Answer: A. 40 B. 45 C. 50 D. 55 2. Carrie Rosenberg worked 44 hours the first week of the calendar year and earns regular wages of $18/hour. She is paid an overtime rate 1.5 times her regular wage rate, contributes 2% of her gross pay to a 401(k) plan, and contributes $40/week to a flexible spending account. Her Social Security tax for the week is $______ . 3. What types of wage garnishments are typically satisfied before others? Answer: A. Student loan payments and state/federal tax levies B. Alimony and child support payments C. Child support payments and federal tax levies D. State and federal tax levies
Doris MacNeil works for Modem Furniture in Alberta and receives the following remuneration on her pay: Bi-weekly salary $1,364.85 Overtime 342.96 4% vacation pay on overtime 13.72 Group term life insurance non-cash taxable benefit 15.75 Taxable car allowance 75.00 What is Doris’ gross pensionable/taxable income for this pay? Show your calculations

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