The following salaried employees of Mountain Stone Brewery in Fort Collins, Colorado, are paid semimonthly. Some employees have union dues or garnishments deducted from their pay. Required: Calculate their net pay using the percentage method for manual payroll systems with Forms W-4 from 2020 or later in Appendix C to determine federal income tax. Assume box 2 is not checked for any employee. Include Colorado income tax of 4.55 percent of taxable pay. No employee has exceeded the maximum FICA limit. (Round your intermediate calculations and final answers to 2 decimal places.) Employee S. Bergstrom Pay $ 1,860 Filing Status, Dependents MJ-0 Answer is complete but not entirely correct. Union Dues per Period Garnishment per Period Net Pay $ 50 $ 1,910.00 C. Pare MJ-2 (<17) $ 3,820 $ 120 $ 3,700.00 L. Van der S-1 (Other) $ 3,545 $ 240 $ 75 $ 3,230.00 Hooven S. Lightfoot MJ-0 $ 3,170 $ 100 $ 3,070.00 X

The following salaried employees of Mountain Stone Brewery in Fort Collins, Colorado, are paid semimonthly. Some employees have union dues or garnishments deducted from their pay. Required: Calculate their net pay using the percentage method for manual payroll systems with Forms W-4 from 2020 or later in Appendix C to determine federal income tax. Assume box 2 is not checked for any employee. Include Colorado income tax of 4.55 percent of taxable pay. No employee has exceeded the maximum FICA limit. (Round your intermediate calculations and final answers to 2 decimal places.) Employee S. Bergstrom Pay $ 1,860 Filing Status, Dependents MJ-0 Answer is complete but not entirely correct. Union Dues per Period Garnishment per Period Net Pay $ 50 $ 1,910.00 C. Pare MJ-2 (<17) $ 3,820 $ 120 $ 3,700.00 L. Van der S-1 (Other) $ 3,545 $ 240 $ 75 $ 3,230.00 Hooven S. Lightfoot MJ-0 $ 3,170 $ 100 $ 3,070.00 X

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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You have just received a garnishment order for your employee Derek Jones. The gamishment order requires you to deduct and remit 17% of gross eanings less statutory deductions, from Derek's pay for court ordered family support payments. You are preparing the January 15", 2018 semi-monthly payroll and have the following information related to Derek Employee Information Employee Name Birth Date Derek Jones May 17, 1992 Pay Details Annual salary Vacation pay Gamishment order Pay schedule Employer name $45,000 6% paid each pay 17% Semi-monthly St. Johns Company located in Brandon, Manitoba Miscellaneous deductions RRSP deduction $4150.00 per month Union dues $430.00 per pay Additional information Federal tax (already calculated) $134.02 Provincial tax (already calculated) 5128.24 CPP deduction (already calculated) $84.60 El deduction (already calculated)- $34.87 Required: Calculate Derek's January 15h Net Pay Show and label your calculations
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The following salaried employees of Mountain Stone Brewery in Fort Collins, Colorado, are paid semimonthly. Some employees have union dues or garnishments deducted from their pay. You do not need to complete the number of hours. Required: Calculate their net pay using the percentage method for manual payroll systems with Forms W-4 from 2020 or later in Appendix C to determine federal income tax. Assume box 2 is not checked for any employee. Include Colorado income tax of 4.55 percent of taxable pay. No employee has exceeded the maximum FICA limit. Note: Round your intermediate calculations and final answers to 2 decimal places. Employee S. Bergstrom C. Pare L. Van der Hooven S. Lightfoot Filing Status, Dependents MJ-0 MJ-2 (<17) S-1 (Other) MJ-0 Answer is complete but not entirely correct. Union Dues per Period Garnishment per Period S Pay $ 1,810 $ 3,720 $ 3,445 $ 3,070 $ S 120 240 $ $ 50 75 100 $ $ S $ Net Pay 1,489.02 2,906.45 x 2,575.44X 2.425.43
Lauprechta Incorporated has the following employees on payroll. Assume that all the employees has only one job or that step 2 of Form W-4 is not checked and all dependents are under the age of 17. Also, the employer uses the percentage method table for a manual payroll system. Use percentage method tables for a manual payroll systems. Naila Wilfred Byron Annie Employee Naila Wilfred Semimonthly Payroll $ 6,500 $5,140 $ 3,740 $4,340 Byron Anvie Number of Dependents from Form Federal Withholding Tax W.4 3 2 0 Required: Complete the table for taxes to be withheld for each pay period. (Round your intermediate computations and final answers to 2 decimal places.) 1 Marital Status Married Married Single Single Social Security Tax Medicare Tax Total Taxes Withheld
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can you please help me answer this problem... Great Dane Casinos has the following data available for its December 31, 2019, payroll: Gross pay $180,000 Federal income taxes withheld 43,200 Gross pay is subject to FICA. A federal unemployment tax is also applicable at 0.8% of gross pay. Prepare the 2019 journal entries to record the wages earned and payroll taxes: 1) journal entry to record the employee portion of payroll taxes; 2) journal entry to record the employer portion of payroll taxes; and 3) journal entry to record the payment of all payroll liabilities. A correct answer should include 3 separate journal entries.
The following salaried employees of Mountain Stone Brewery in Fort Collins, Colorado, are paid semimonthly. Some employees have union dues or garnishments deducted from their pay. Required: Calculate their net pay using the percentage method for manual payroll systems with Forms W-4 from 2020 or later in Appendix Cito determine federal income tax. Assume box 2 is not checked for any employee. Include Colorado income tax of 4.55 percent of taxable pay. No employee has exceeded the maximum FICA limit. (Round your intermediate calculations and final answers to 2 decimal places.) Employee S. Bergstrom C. Pare L. Van der Hooven S. Lightfoot Filing Status, Dependents MJ-0 MJ-2 (<17) S-1 (Other) MJ-0 Pay $ $ 1,715 3,880 $ 3,605 $ 3,230 Union Dues per Period $ $ GA Garnishment per Period $ 120 240 $ $ 50 75 100 $ $ $ $ Net Pay 1,398.35 3,117.86 2,541.37 2,760.04
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