Paid part-time receptionist for two weeks’ salary including the amount owed on April 30, $750
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- Required: Prepere the Joumal entries to: (a) distribute the weekly the bonus, vacation and holiday pay. rue R4 Monthly payroll register of Hanna Institule for January shows the following information:. The salary for administrative employees is P20,000; faculty, P300,000. Hanna shareo P2,500 will be deducted from both departments (admin and faculty) each. There are 5 faculty members with equal salaries; two of them are most senlor and entitler to avail 2 weeks pald leave every year. Mr. Johnson, one of two senior members, received bonus of P1,000 for his last year's awesome result. Required: Journal entries to record payroll on January 31st.Consr a. Business receives $3,200 on January 1 for 10-month service contract for the period January 1 through October 31. b. Total salaries for all employees is $3,600 per month. Employees are paid on the 1st and 15th of the month. c. Work performed but not yet billed to customers for the month is $1,600. d. The company pays interest on its $16,000, 4% note payable of $53 on the first day of each month.1. Calculate Income Tax @ 15% and CPP & El per pay period. Employees are paid biweekly. Their per pay period salary is given. Employee Gross Pay 1,200.00 530.00 675.00 2.405 El Premlum Income Тахes СРР Total Deductions Net Pay Johnson. S Waverley N. Zender B Total 2.The following information as to earnings and deductions for the weekly pay period ended March 9 was taken from a company's payroll records: Eamings to End Income Taxes of Previous week $ 12.510 10.320 15.500 29 500 Employees Names Weekly Gross Pay Health Insurance Deductions S 24.00 Hellen Craig Joseph Lim Dino Patel S 720 610 830 Sharleen McFee 1700 $3 860 $106.20 79 70 132.25 432.55 S750 70 24.00 36.00 24 00 S 108.00
- Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Deductions: Sales salaries $214,000 Income tax withheld $77,616 Warehouse salaries 118,000 Social security tax withheld 26,460 Office salaries 109,000 Medicare tax withheld 6,615 $441,000 Retirement savings 9,702 Group insurance 7,938 $128,331 Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.6% Required: If an amount box does not require an entry, leave it blank. 1a. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the entry on December 30 to record the payroll. Date Dec. 30 Account Debit Creditemployees' individual earnings records for the pay period ended September 21 is shown LO 1, 2, 3, 4, 5 PROBLEM 7-3B Williams Company pays its employees time-and-a-half for houre worked in excess of 40 per week. The information available from time records and in the following chart: Daily Time Earnings at End of Income Tax Pay Allowances or Previous W F S. Rate Amount Name Week 8. 8. 10 8. 0. 25.00 1 Bolt, D. 6,745.00 8 8. 8. 8 8. 8. 49.50 $252.30 Dore, C. 136,240.00 Gayle, A. 32,730.00 8 10 8 8 8. 0. 24.50 2 Hale, R. 117,560.00 8 8 8 8. 4. 40.00 $195.50 Jilly, B. 8. 8 8. 8. 8 49.50 $291.25 35,154.00 Karn, S. 29,938.00 8. 8 9. 8. 8 20.50 2 Ober, N. 6,795.00 8. 8 8. 9. 9. 4 21.00 1 Wong, J. 27,252.00 8. 8. 10 8. 8. 0. 20.00 Taxable earnings for Social Security are based on the first $118,500. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the first $7,000. Required 1. Complete the payroll register using the…FICA defines all of the following as wages except: Group of answer choices Total cash tips of $15 received by a tipped employee in the month of May Standby payments First six months of sick pay Year-end bonuses Employee's social security taxes paid for by the employer
- VACATION PAY The Tom Thumb Corporation follows this vacation policy for its factory workers: I to 3 years of service: 1 week paid vacation 4 to 12 years of service: 3 weeks paid vacation Over 12 years of service: 4 wecks paid vacation The payroll records show the following information pertaining to next year (all em- ployees work directly on the product): YEARS OF EMPLOYMENT SALARY (WEEKLY) NAME I. Gelati B. O'Hara R. Reilly F. Maestro R. Auerbach K. Sposare T. Fyumo $350 175 370 15 425 8. 400 125 390 Requlred: Determine the amount that should be accrued each week for each employee. b Show next year's journal entry needed to distribute the weekly payroll. The Tom Thumb Corporation uses the perpetual cost accumulation system. To prepare the entry, assume that no employee would be on vacation.Calculate Payroll Breakin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Consultant $2,010 per week Not applicable Gross pay Net pay Computer Programmer $34 per hour 1.5 times hourly rate 2 Regular earnings rate $46 per hour Overtime earnings rate 2 times hourly rate 3 1 Number of withholding allowances For the current pay period, the computer programmer worked 60 hours and the administrator worked 50 hours. The federal income tax withheld for all three employees, who are single, can be determined by adding $356.90 to 28% of the difference between the employee's amount subject to withholding and $1,796.00. Assume further that the social security tax rate was 6%, the Medicare tax rate was 1.5%, and one withholding allowance is $70. 2,010 ✔ Determine the gross pay and the net pay for each of the three employees for the current pay period. Assume the normal working hours in a…ll. 2
- OwefixGodoCalculate Payroll Breakin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Regular earnings rate Overtime earnings rate Gross pay Consultant $3,210 per week Not applicable $48 per hour 2 times hourly rate 1 3 Number of withholding allowances For the current pay period, the computer programmer worked 60 hours and the administrator worked 50 hours. The federal income tax withheld for all three employees, who are single, can be determined by adding $356.90 to 28% of the difference between the employee's amount subject to withholding and $1,796.00. Assume further that the social security tax rate was 6%, the Medicare tax rate was 1.5%, and one withholding allowance is $70. Net pay Computer Programmer $32 per hour 1.5 times hourly rate 2 Determine the gross pay and the net pay for each of the three employees for the current pay period. Assume the normal working hours in a week are 40…