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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Q- if Russell's annual earnings are $47500, what is his semi-monthly pay, rounded to the nearest dollar? Q- Danya is in grade 12 and works weekends and after school as a cashier at the dollar store, earing $17.00/h. She works an average of 27 hours per week. Her average bi-weekly pay, rounded to the nearst dollar is?
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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
Determine the labor burden for an employee given the information in Table below. Assume the employee takes full advantage of the 401k benefit. Employer provides health insurance $100 a month, and employee doesn't pay for health insurance. Cost $85,000 None Item Wages Bonus Allowances Medicare Social Security FUTA None 1.45% of wages SUTA Workers' Comp. General Liability 401(k) Health Insurance 6.2% of wages to $128,700 0.6% of wages to $7,000 |2.0% of wages to $20,000 $0.85 per $100 of wages 0.65% of wages 50% match up to 6% of wages |$200/month
02.
Ari Friedman is an employee at Ruby Investments, with an annual salary of $92,500, paid biweekly. Ari has the following fringe and voluntary benefits. • Medical insurance: $400 per month . 401(k): 3 percent of gross pay • Flexible spending arrangement $2,550 annually . Charitable contributions: $65 per pay period Required: What is the total amount Ari contributes to fringe benefits and voluntary deductions annually? Medical insurance 401(k) Flexible spending arrangement Charitable contribution Total amount Ari contributes to fringe benefits and voluntary deductions
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.
11. During the month. the company paid for the monthly renta! of a dormitory. which is being occupied by the supervisor in the amount of P10,000. It also provided fringe benefit to a clerk amounting to P3,000. The deductible expense of the company is - P 15,692 12,692 а. C. 13,000 b. d. 7.200 CS Scanned with CamScanner

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