Review your triend Johnny's weekly paystub/earning's statement and answer questions #1 -4 thatfollow it.121213EARNINGS STATEMENTPay Periodi 22018- 042018Pay Date: 0402018Employee 2214Abstract UnitedJamaica, NY. 11433, USAMarital Status SingleJohnny BraveJamaica. NY. 45641, USASocial Security s46Eemptions: 0EARNINGS RATESalaryOvertimeHolidayVacationBonusPloatDEDUCTIONSFica - MedicareFica - Social SecurityFederal TaxState TaHOURSYTD TOTALB1.20347.20631.40280.00TOTAL400.00YTD TOTAL5,600.00TOTAL5.8024.8045.1020.0010400.000.000.000.000.000.000.000.000.000.00DEDUCTION TOTAL95.70GROSS PAY400.00S00.00NET PAY30430420.201. For the one wngls pay period ending 04/03/2018, what is Johnny's gross pay? (Section 4.2)Page2. How much was deducted for federal income tax in this pay period? (Section 4.2)7:36 PM

Earnings statement: It is a record showing all the details relating to the payroll of an employee…

Review your friend Johnny's weekly paystub/earning's statement and answer questions #1-4 that follow it. S. 121213 EARNINGS STATEMENT Pay Pertodi Z2018- 04201 Pay Date 0018 Employee 2214 Abstract United Jamaica, NY. 11433, USA Marital Status Single Johnny Brave Eemptions 0 Jamaica NY. 44I, USA Secial Security.ss46 tEDUCTIONS YTD TOTAL 5.600.00 KARNINGS RATE Salary Overtime Holiday Vacatin Bons Ploat HOURS 40 0.00 TOTAL 400.00 0.00 0.00 0.00 0.00 0.00 TOTAL YTD TOTAL B1.20 347.20 631.40 20.00 Pca Medicare FeaSocial Secunty 10 240 45.10 20.00 0.00 0.00 00 00 Federal Ta State Tax DEDUCTION TOTAL 95.70 GROSS PAY 400.00 S00.00 NET PAY 30430 4.20.20 1. For the one weols pay period ending 04/03/2018, what is Johnny's gross pay? (Section 4.2) 2. How much was deducted for federal income tax in this pay period? (Section 4.2)

Review your friend Johnny's weekly paystub/earning's statement and answer questions #1-4 that follow it. S. 121213 EARNINGS STATEMENT Pay Pertodi Z2018- 04201 Pay Date 0018 Employee 2214 Abstract United Jamaica, NY. 11433, USA Marital Status Single Johnny Brave Eemptions 0 Jamaica NY. 44I, USA Secial Security.ss46 tEDUCTIONS YTD TOTAL 5.600.00 KARNINGS RATE Salary Overtime Holiday Vacatin Bons Ploat HOURS 40 0.00 TOTAL 400.00 0.00 0.00 0.00 0.00 0.00 TOTAL YTD TOTAL B1.20 347.20 631.40 20.00 Pca Medicare FeaSocial Secunty 10 240 45.10 20.00 0.00 0.00 00 00 Federal Ta State Tax DEDUCTION TOTAL 95.70 GROSS PAY 400.00 S00.00 NET PAY 30430 4.20.20 1. For the one weols pay period ending 04/03/2018, what is Johnny's gross pay? (Section 4.2) 2. How much was deducted for federal income tax in this pay period? (Section 4.2)

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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v2.cengagenow.com Employee Net Pay Stan Stately's weekly gross earnings for the week ended April 22 were $2,400, and his federal income tax withholding was $407.58. Assuming that the social security rate is 6% and Medicare is 1.5% of all earnings, what is Stately's net pay? Round your answer to two decimal places. LA O $ ♥
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Calculation of Taxable Earnings and Employer Payroll Taxes and Preparation of Journal Entry 1. Calculate the amount of taxable earnings for unemployment, Social Security, and Medicare taxes. 2. Prepare the journal entry to record the employer's payroll taxes as of September 14, 20--. Round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Selected information from the payroll register of Joanie's Boutique for the week ended September 14, 20--, is as follows. Social Security tax is 6.2% on the first $118,500 of earnings for each employee. Medicare tax is 1.45% of gross earnings. FUTA tax is 0.6% and SUTA tax is 5.4% on the first $7,000 of earnings. Taxable Earnings Employee Name Cumulative PayBefore CurrentEarnings CurrentGross Pay UnemploymentCompensation SocialSecurity Jordahl, Stephanie $6,600 $1,190 Keesling, Emily 6,150 1,070 Palmer, Stefan 55,200 2,410 Soltis, Robin…
S eBook Ask Print eferences Mc Graw Hill :: -WKCTC_....txt FI 2 W S KMH Industries is a monthly schedule depositor of payroll taxes. For the month of August 2021, the payroll taxes (employee and employer share combined) were as follows: X Social Security tax: $5,056.78 Medicare tax: $1,182.63 Employee Federal income tax: $3,960.00 Required: Create the General Journal entry for the remittance of the taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to 2 decimal places.) View transaction list A Journal entry worksheet 4² Record the remittance of August payroll taxes. Note: Enter debits before credits. # 3 1 E D Data C 8.0 F3 $ 4 JUL 22 R F a F4 V General Inurnal % 5 T F5 G 8 DII FB M 1 ( 9 K ران DD F9 O ) O A F10 L P Ⓡ command C F11 - 9 F12 option
DATE OF PAY PERIOD ENDING 20- 20 PAYMENT NET СК. EARNINGS DEDUCTIONS EMPLOYEE MAR. TOTAL NAME ALLOW RATE SOC. SEC. FED. INC. STATE INC. HOSP. INS OTHERS TOTAL PAY NO. NUMBER STATUS HOURS REGULAR OVERTIME TOTAL MED. TAX TAX TAX TAX 10 2 3 6. 9. 10 11 10 12 11 13 14 13 15 14 16 17 15 18 16 17 18 25 12 7.
DIRECTIONS 1 Journalize the entry to RECORD the payroll 2 Journalize the entry to RECORD the employer's payroll taxes (SUTA rate is 3.7%) 3 Journalize the entry to deposit the FICA and FIT taxes TOTAL EARNINGS FICA OASDI FICA HI FIT W/H STATE TAX UNION DUES NET PAY $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 1 JOURNAL DATE DESCRIPTION DEBIT CREDIT 2 JOURNAL DATE DESCRIPTION DEBIT CREDIT…
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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
Employee Details Employee Name: Miguel Cabrera Employee ID: 12345 Hire Date: 11 October 2021 Bank Account numben 12345678 Department Sales Tob Title: Sales Manager Payments Taxable Income Basic Salary Commission Over time pay Gross Taxable Income Deductions SSS Contribution Pag-ibig Contribution PL125 100 770 P1,995 PhilHealth deduction SSS Deduction P44,000 37,500 10,000 P91,500 PhalHealth Contribution Total Pag-ibig deduction Non-Taxable Income BIR Withholding Tax Computation Gross Taxable Income Less: Total Deductions Taxable Income Tax Due P91,500 1,995 P89,505 17,684.73 Rice Allowance Laundry Allowance Clothing Allowance Transportation Allowance Total Non-Taxable Income 2,000 250 50 2.000 P4,750 Net pay Tаx due NET PAY Taxable Income Miguel Cabrera's Particulars of Salary Non-Taxable Income Less: Tax Due P09,50S 4,750 17,684.73 SSS Deduction Pag-ibig deduction PhiHealth deduction Tax due Net pay Net pay P76,570.27
Just want to make sure I did the journal entries correctly