College Accounting, Chapters 1-27
23rd Edition
ISBN: 9781337794756
Author: HEINTZ, James A.
Publisher: Cengage Learning,
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Chapter 8, Problem 2MC
To determine
Calculate the net pay of Person N.
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Jennifer Ross, an employee of Hampton Company, worked 44 hours during the week of February 9 through 15. Her rate of pay is $30 per hour, and she receives time-and-a-half for work in excess of 40 hours per week. She is married and claims two allowances on her W-4 form. Her wages are subject to the following deductions:
Federal income tax (use the table in Figure 3).
Social Security tax at 6.2 percent.
Medicare tax at 1.45 percent.
Union dues, $30.00.
Compute Ross's regular pay.
$fill in the blank 1
Compute Ross's overtime pay.
$fill in the blank 2
Compute Ross's gross pay.
$fill in the blank 3
Compute Ross's net pay. When necessary, round intermediate calculations and the final answer to the nearest cent.
$fill in the blank 4
Jennifer Ross, an employee of Hampton Company, worked 43 hours during the week of February 9 through 15. Her rate of pay is $22.00 per hour, and she receives time-and-a-half for work in excess of 40 hours per week. She is married and claims two allowances on her W-4 form. Her wages are subject to the following deductions:
Federal income tax (use the table in Figure 3).
Social Security tax at 6.2 percent.
Medicare tax at 1.45 percent.
Union dues, $33.00.
Compute Ross's regular pay.
$
Compute Ross's overtime pay. If required, round intermediate calculations to the nearest cent and use them in subsequent computations. Round final answer to the nearest cent.
$
Compute Ross's gross pay. If required, round intermediate calculations to the nearest cent and use them in subsequent computations. Round final answer to the nearest cent.
$
Compute Ross's net pay. If required, round intermediate calculations to the nearest cent and use them in subsequent computations. Round final answer to the…
Vince Lupino works for Best Supplies Company, which pays its employees time and a half for all hours worked in excess of 40 hours per week. Lupino's rate of pay is $12.00 per hour paid weekly. Federal income tax withheld was $54.00. His wages are subject to Social Security tax withheld at the rate of 6.2% and Medicare tax at the rate of 1.45%. He worked 8 hours of overtime last week (week ended July 16).
1. Compute the following: If required, round your answers to the nearest cent.
a. Regular pay for the week
b. Overtime pay for the week
c. Total gross wages
d. Federal Income Tax
e. Social Security withheld
f. Medicare tax withheld
g. Total withholding
h. Net pay
Journalize the payroll entry. When required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank.
Page: 1
DATE
DESCRIPTION
POST. REF.
DEBIT
CREDIT
1
Jul. 16
1
2
2
3
3
4
5…
Chapter 8 Solutions
College Accounting, Chapters 1-27
Ch. 8 - Prob. 1TFCh. 8 - Prob. 2TFCh. 8 - Prob. 3TFCh. 8 - Prob. 4TFCh. 8 - A payroll register is a multi-column form used to...Ch. 8 - Prob. 1MCCh. 8 - Prob. 2MCCh. 8 - Prob. 3MCCh. 8 - Prob. 4MCCh. 8 - Social Security Tax Payable and Medicare Tax...
Ch. 8 - Prob. 1CECh. 8 - Prob. 2CECh. 8 - Prob. 1RQCh. 8 - Prob. 2RQCh. 8 - Identify the four factors that determine the...Ch. 8 - Prob. 4RQCh. 8 - Prob. 5RQCh. 8 - Prob. 6RQCh. 8 - Prob. 7RQCh. 8 - Prob. 8RQCh. 8 - Prob. 9RQCh. 8 - Prob. 10RQCh. 8 - Prob. 1SEACh. 8 - COMPUTING OVERTI ME RATE OF PAY AND GROSS WEEKLY...Ch. 8 - Prob. 3SEACh. 8 - CALCUL ATING SOCIAL SECURITY AND MEDICARE TAXES...Ch. 8 - Prob. 5SEACh. 8 - JOURNALIZING PAYROLL TRANSACTIONS On December 31,...Ch. 8 - PAYROLL JOURNAL ENTRY Journalize the following...Ch. 8 - Prob. 8SPACh. 8 - PAYROLL REGISTER AND PAYROLL JOURNAL ENTRY Mary...Ch. 8 - EMPLOYEE EARNINGS RECORD Marys Luxury Travel in...Ch. 8 - COMPUTING WEEKLY GROSS PAY Manuel Sotos regular...Ch. 8 - Prob. 2SEBCh. 8 - Prob. 3SEBCh. 8 - CALCULATING SOCIAL SECURITY AND MEDICARE TAXES...Ch. 8 - Prob. 5SEBCh. 8 - JOURNALIZING PAYROLL TRANSACTIONS On November 30,...Ch. 8 - PAYROLL JOURN AL ENTRY Journalize the following...Ch. 8 - Prob. 8SPBCh. 8 - Prob. 9SPBCh. 8 - Prob. 10SPBCh. 8 - Prob. 1MYWCh. 8 - Prob. 1ECCh. 8 - Prob. 1MPCh. 8 - Prob. 1CP
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