What is the Net Salary that Oscar Garza receives
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2.- What is the Net Salary that Oscar Garza receives if he earned $1950 in the week, there are no withholdings at the source; the amount to be deducted for the IMSS is $275?
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- On the last weekly pay of the first quarter, Lorenz is paid her current pay of $90 per day for four days workedand one day sick pay (total— $450). She is also paid her first-quarter commission of $1,200 in this pay. How muchwill be deducted for:(a) OASDI tax ($1,650 × 6.2%) = __________(b) HI tax ($1,650 × 1.45%) = _____________Hamish Carter is employed as a parking attendant at Crowne Metro Hotel. During the 2023 income year, Hamish received the following amounts: Net Wages from Crowne (PAYGW of $11,000) $59,000 Tips from customers $ 1,000 Allowance from Crowne for uniform $ 2,000 Calculate Hamish's assessable income for the 2023 income year. Question 8 Select one: $73,000 $62,000 $71,000 $60,000Redmont Company's gross salaries and wages are $50,000, and it withholds $7,500 for income taxes and $3,825 for FICA taxes, the journal entry to record the employees' pay should include a: Multiple Choice debit to Salaries and Wages Payable for $38,675. debit to Salaries and Wages Expense for $38,675. credit to Salaries and Wages Payable for $38,675. credit to Salaries and Wages Payable for $50,000.
- To determine how much to deduct from the gross pay of Jason Parker, an employee of Jensen Ltd., one would look at the earnings record. O Form TD1. O payroll register. O Form T4.In a recent pay period, Blue Company employees have gross salaries of $18,960. Total deductions are: CPP $886, EI $348, and income taxes $4,480. What is Blue Company’s total payroll expense for this pay period? Ignore vacation benefits and workers’ compensation premiums.An accountant needs to withhold 18% of income for taxes if the income is below $40,000, and 21% of income if the income is $40,000 or more. The income amount is in cell A1. Write a spreadsheet expression that would calculate the amount to withhold.
- The ABC Co. delivered $5,000 worth of window washing services in 2021 but only collected $4,300 in cash from customers this year. Its only expense is payroll, for which it paid $3,500 in 2021. At the end of the year, it had $550 in unpaid payroll. What would its net income be under accrual accounting? O A. $1,500 B. $950 O C. $800 D. $250Required information Skip to question [The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 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. Gross Pay throughAugust 31 Gross Pay forSeptember a. $ 6,400 $ 800 b. 2,000 2,100 c. 122,100 8,000 Assuming situation (a), prepare the employer’s September 30 journal entries to record salary expense and its related payroll liabilities for this employee. The employee’s federal income taxes withheld by the employer are $80 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to be Withheld From Gross Pay General Journal The employee’s federal income taxes withheld by the employer are $80 for…Can I do a general journal entry on this scenario, if so how do i do it? Master Flow’s first employee, Emma Stone starts at the Company. She will be responsible for Warehouse Management. She will be paid $20 / Hour. Emma works 30 Hours / Pay Period (every two weeks). The pay period ends on 12-31-20. Emma’s Federal Tax Withholding is $50, based on her W4, and all other standard payroll taxes apply at their appropriate rates. She does not receive benefits and does not have any contributions of any type withheld from her pay.
- PROBLEM. Journalize the following transactions using the Excel worksheet provided in the link., Convert your completed worksheet to a PDF and attach below. WORKSHEET LINK March 31, 20--: Paid total wages of $9,350.00. These are the wages for the last semimonthly pay of March. All of this amount is taxable under FICA (OASDI and HI). In addition, withhold $1,175 for federal income taxes and $102.03 for state income taxes. These are the only deductions made from the employees wages. March 31, 20-- Record the employer's payroll taxes for the last pay in March. All of the earnings are taxable under FICA (OASDI and HI), FUTA (0.6%), and SUTA (2.8%). April 15, 20--: Made a deposit to remove the liability for the FICA taxes and the employees federal income taxes withheld on the two March payrolls.Wildhorse's gross earnings for the week were $1,800, his federal income tax with-holding was $332, and his FICA total was $138. a.) What was Wildhorse’s net pay for the week? b.) Journalize the entry for the recording of his pay in the general journal. (Note: Use Salaries and Wages Payable: not Cash.) Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount c.) Record the issuing of the check for Wildhorse’s pay in the general journal. Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount
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