College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN: 9781305666160
Author: James A. Heintz, Robert W. Parry
Publisher: Cengage Learning
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Chapter 8, Problem 2MC
To determine
Calculate the net pay of Person N.
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6. Sadie White receives an hourly rate of $30, with time and a half for all hours worked in excess of 40 during a
week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $300;
social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the net amount to be paid to White?|
9
Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $8,988. The Federal Insurance
Contributions Act (FICA) tax for social security is 6.2% of the first $137,700 of employee earnings each calendar year and the Federal Insurance
Contributions Act (FICA) tax rate for Medicare is 1.45% of all earnings. The Federal Unemployment Taxes (FUTA) tax rate of 0.6% and the State
Unemployment Taxes (SUTA) tax rate of 5.4 % are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her
earnings was $1.491.37. Her net pay for the month is: (Round your intermediate calculations to two decimal places.)
ts
01.34.34
Book
Multiple Choice
$7,700.21
$6.939.37
$6,809.04
$6.375.04
Assume that Johnson earns $24 per hour and he worked 40 hours this week. The Social Security rate is 6.2% and the Medicare rate is 1.45%, and his entire earnings are subject
to both FICA taxes. Also, $120 in income taxes and $40 of union dues are withheld.
Johnson's net take-home pay should be:
Select one:
O
O
O
O
A. $726.56
B. $800.00
C. $640.00
D. $738.80
Chapter 8 Solutions
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
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 - Irina Company pays its employees weekly. The last...
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