College Accounting (Book Only): A Career Approach
12th Edition
ISBN: 9781305084087
Author: Cathy J. Scott
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 7, Problem 2E
To determine
Complete and fill the banks with payroll calculations for the week.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Lisa Meilo works for Pacific Company, which pays its employees time-and-a-half for all hours worked in excess of 40 per week. Meilo's pay rate is $40.00 per hour. Her wages are subject to federal income tax, a Social Security tax deduction at the rate of 6.2 percent, and a Medicare tax deduction at the rate of 1.45 percent. She is married and claims three allowances. Meilo has an unpaid half-hour lunch break during an 8½-hour day. In the most recent pay period, she worked 48 hours. Meilo's beginning cumulative earnings are $75,200.
Questions: ( in attached image).
Thanks
Suzanne works in a garment factory and is paid a basic rate of $19.26 for each hour worked between 7am and 4:30 pm, excluding lunch hour, Monday to Friday. However, she paid at time and a half for overtime worked from Monday to Friday and at double time for overtime worked during the weekends. She is taxed at the rate of 10 cent in each dollar and pays 7.5% of her weekly pay for NPF contribution plus superannuation at 3.25% of her basic weekly wage. Use the information given in her time sheet to answer the following questions.
Days: Monday, 7am clock in
6pm clock out
Tuesday, 7am clock in
6:30pm clock
out.
Wednesday,7am clock in
5:30pm clock
out.
Thursday,7am clock in
7pm clock out
Friday, 7am clock in…
Maile is a full-time exempt employee in Boca Raton, Florida, who earns $1,559.15 per biweekly payday. She is married with seven withholding allowances, so her federal income tax is $0. She contributes 4% of her gross pay to her 401(k) and has her health insurance premium of $64 deducted on a pre-tax basis. She has $22 deducted per pay period for a Salvation Army contribution and has union dues of $30 per pay period. What is her net pay? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Chapter 7 Solutions
College Accounting (Book Only): A Career Approach
Ch. 7 - Prob. 1QYCh. 7 - Which of the following taxes are not withheld from...Ch. 7 - Calculate an employees total earnings if the...Ch. 7 - Prob. 4QYCh. 7 - Prob. 5QYCh. 7 - Prob. 6QYCh. 7 - When is the payroll register updated? a. Annually...Ch. 7 - Prob. 1DQCh. 7 - Prob. 2DQCh. 7 - Prob. 3DQ
Ch. 7 - Explain the difference between gross earnings and...Ch. 7 - Prob. 5DQCh. 7 - Prob. 6DQCh. 7 - Prob. 7DQCh. 7 - Prob. 8DQCh. 7 - Prob. 1ECh. 7 - Prob. 2ECh. 7 - Prob. 3ECh. 7 - Prob. 4ECh. 7 - Prob. 5ECh. 7 - On January 21, the column totals of the payroll...Ch. 7 - Precision Labs has two employees. The following...Ch. 7 - Prob. 8ECh. 7 - Prob. 1PACh. 7 - Prob. 2PACh. 7 - Prob. 3PACh. 7 - Prob. 4PACh. 7 - Prob. 5PACh. 7 - Prob. 1PBCh. 7 - Prob. 2PBCh. 7 - Prob. 3PBCh. 7 - Prob. 4PBCh. 7 - Prob. 5PBCh. 7 - Attracting and retaining the best employees is...Ch. 7 - Southern Company pays its employees weekly by...Ch. 7 - Prob. 3A
Knowledge Booster
Similar questions
- Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.arrow_forwardJulie Whiteweiler made $930 this week. Only social security (fully taxable) and federal income taxes attach to her pay. Whiteweiler contributes $100 each week to her company's 401(k) plan and has $25 put into her health savings account (nonqualified) each week. Her employer matches this $25 each week. Determine Whiteweiler's take-home pay if she is single and claims 2 allowances (use the wage-bracket method). Enter deductions beginning with a minus sign (-). Round your calculations and final answers to the nearest cent. use the wage bracket 2019arrow_forwardKaren’s Moore is married, claims five withholding allowances, and earns $3,500 per month. In addition to social security, Medicare, and FIT, Karen pays 2.1% state income tax, 1/2 for state disability insurance (both based on gross income), $43.11 for life insurance, and $72.30 to the creditunion. As payroll manager for Karen’s company, calculate her net take-home pay per month.arrow_forward
- Manny's weekly wage as a welder are $520.75. He is single and claims 3 allowances. What amount is deducted for federal taxes?arrow_forwardFrannie, a bartender paid on a weekly basis, earns $11.50 per hour, is paid 1.5 times the regular rate for all hours worked in excess of 40, and reports her tips to her employer each week but keeps her tips. This week Frannie worked 44 hours and earned $754 in tips. The employer does not take a tip credit. What is Frannie's social security tax withholding this week? Assume her wages have not met the social security wage limit.arrow_forwardJen Miller made $1,090 this week. Only social security (fully taxable) and federal income taxes attach to her pay. Miller contributes $125 each week to her company's 401(k) plan and has $40 put into her health savings account (nonqualified) each week. Her employer matches this $40 each week. Determine Miller's take-home pay if she is married and claims 2 allowances (use the wage-bracket method). What is her OASDI Tax? Her HI Tax?arrow_forward
- Merly Garza's regular hourly wage rate is $16, and she receives a wage of 1½ times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period, Merly worked 42 hours. Her gross earnings prior to the current week were $3,900. Merly is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $27 per week. All earnings are subject to Social Security tax.arrow_forwardR.D. Kagen employs Audrey Lopez at a salary of $32,900 a year. Kagen is subject to employer Social Security taxes at a rate of 6.2% and Medicare taxes at a rate of 1.45% on Lopez's salary. In addition, Kagen must pay SUTA tax at a rate of 5.4% and FUTA tax at a rate of 0.6% on the first $7,000 of Lopez's salary. Compute the total cost to Kagen of employing Lopez for the year.arrow_forwardAnne is a non-exempt payroll clerk who makes $50,000 per year and is paid bi-weekly. She works a 37.5-hour workweek. Last pay period she worked 37.5 hours in week 1 and 42 hours in week 2. Anne contributes 5% to her 403b retirement account and has $25 per pay period deducted for health insurance premiums. She also contributes $10 per pay to her organization’s charity. Anne’s most recent W-4 on file is from 2018 and she claims single with 1 allowance. She lives in a state with no state income tax. What is Anne’s federal taxable wage? A $2,064.02 B $2,039.02 C $1,960.82 D $1,935.82arrow_forward
- Sally earns gross wages of $1200 per week. She has standard deductions for social security and medicare. She is single with 1 allowance. She also has 6% of her gross wages put into a retirement account. Find the retirement account deduction.arrow_forwardJohn Doe is married and claims 3 withholding allowances. He collects overtime pay when he works over 40 hours a week. If his gross pay is $1,306.88, determine his weekly net earnings. Use the following deductions: FWT (Percentage Method), FICA 6.2%, Medicare 1.45%, SDI 1%, Health Insurance ($80/week), Union Dues ($4.50/week), and Trust Fund ($95/week). a.$819.32 B.$786.67 C.$768.31 D.$891.28arrow_forwardJulie Whiteweiler made $930 this week. Only social security (fully taxable) and federal income taxes attach to her pay. Whiteweiler contributes $100 each week to her company's 401(k) plan and has $25 put into her health savings account (nonqualified) each week. Her employer matches this $25 each week. Determine Whiteweiler's take-home pay if she is single. Enter deductions beginning with a minus sign (-). Round your calculations and final answers to the nearest cent. As we go to press, the federal income tax rates for 2022 are being determined by budget talks in Washington and not available for publication. For this edition, the 2021 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2021 FICA rates have been used. Click here to access the Wage-Bracket Method Tablesarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
College Accounting (Book Only): A Career ApproachAccountingISBN:9781305084087Author:Cathy J. ScottPublisher:Cengage Learning
College Accounting (Book Only): A Career ApproachAccountingISBN:9781337280570Author:Scott, Cathy J.Publisher:South-Western College Pub
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:South-Western College Pub