Bookkeeping for Payroll Practice Quiz

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Compute the net pay for each employee and answer the additional requirements that follow: Deductions Employee Basic Pay SSS Philhealth Withholding Tax Ericka Bilango 40,300.00 581.30 550.00 100.00 P 3,933.84 Alani Ching 37,600.00 581.30 517.00 100.00 3,267.09 Audrey Tan 35,500.00 581.30 488.13 100.00 2,749.31 1. How much is the total Salaries Expense? 2. How much is the total payroll deductions? 3. How much is the total credit to Cash upon payment of salaries? Is this the same as the take-home pay? Pag-IBIG

Problem #3 Ernesto Enterprises uses the wage-bracket method to determine federal income tax withholding on its employees. Find the amount to withhold from the wages paid each employee. Employee Filing Status No. of Withholding Payroll Period Wage Amount to Be Allowances w = Weekly Withheld S = Semimonthly M= Monthly D= Daily Lily Troon MFJ N/A $1,250 Barry Ortega N/A 695 Pat Lopez N/A 915 Rex Kim MFJ N/A M 3,070 Ruth Horace MFJ N/A M 2,730 Tom Gleam MFJ N/A 1,200 Tom Abreu N/A 115 Holly Sanchez s Kathy Nee N/A N/A 2,040 MFJ M 3,500

Question 6: Match each pay-related term with its definition. Pay period Annual pay amount DROP HERE Wage Pay rate typically paid on an hourly basis DROP HERE Workweek Can be any given, consistent seven days DROP HERE Salary Schedule the employer follows for paying employees DROP HERE Question 9: What is NOT a portion of an employer's payroll tax expense? Answer: A. O Federal unemployment tax В. O Social Security tax C. O Medicare tax D. O Federal income tax Question 10: Match each act with the year it was passed into law. 1996 Personal Responsibility and Work Opportunity Reconciliation DROP HERE 1938 Immigration Reform and Control DROP HERE 1986 Fair Labor Standards DROP HERE

What is the gross salary of this person and what is the JE to record this payroll?

Obj. 2 PR 10-3A Wage and tax statement data on employer FICA tax Ehrlich Co. began business on January 2. Salaries were paid to employees on the last day of each month, and social security tax, Medicare tax, and federal income tax were withheld in the required amounts. An employee who is hired in the middle of the month receives half the monthly salary for that month. All required payroll tax reports were filed, and the cor- rect amount of payroll taxes was remitted by the company for the calendar year. Early in the following year, before the Wage and Tax Statements (Form W-2) could be prepared for dis- tribution to employees and for filing with the Social Security Administration, the employees' earnings records were inadvertently destroyed. None of the employees resigned or were discharged during the year, and there were no changes in salary rates. The social security tax was withheld at the rate of 6.0% and Medicare tax at the rate of 1.5% on salary. Data on dates of employment,…

Problem#2 Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. Employee Employee No. Name 2 3 4 Fox, A. Aiken, T. Larey, P. Wolf, M. Filing Status No. of Withholding Allowances N/A MFJ S MFJ MFJ N/A N/A N/A Gross Wage or Salary Amount to Be Withheld $1,575 weekly 1,200 biweekly 1,090 semimonthly 8,120 monthly

Assume an employee has a gross pay of $500 and vacation pay is paid out at 4%. How much extra gross pay does the employee receive on their paycheque? Select one: a. $500 O b. $0 c. $20 d. $480

How to get the gross taxable income

Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent.           Amount to BeWithheld Employee MaritalStatus No. of WithholdingAllowances Gross Wageor Salary PercentageMethod Wage-BracketMethod Corn, A. S 2    $675 weekly $fill in the blank 1  $fill in the blank 2  Fogge, P. S 1   1,960 weekly  fill in the blank 3   Felps, S. M 6   1,775 biweekly  fill in the blank 5  fill in the blank 6 Carson, W. M 4   2,480 semimonthly  fill in the blank 7  fill in the blank 8 Helm, M. M 9   5,380 monthly  fill in the blank 9

Wages Hours Gross Cumulative Social Employees Expense Regular Overtime Pay Earnings Unemployment Security Medicare B. Borke 40 480 0 480 12,192 0 480 480 E. Clarke 40 480 180 660 13,348 660 660 Totals $960 $180 $1,140 $25.540 $0 $1,140 $1,140 (a) What journal entry would be made to record the employer's payroll taxes on this hypothetical payroll? (Round answers to 2 decimal places, eg. 15.25. Credit account titles are automatically indented when amount is centered. Do not indent manually.) Account Titles and Explanation (To record employer's payroll taxes on the payroll) List of Accounts Debit Credit

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.

I already did part b and c and I am struggling to do part a. Help please !!

Take home pay or net pay means: a. gross pay less all deductions b. gross pay plus the amount paid for you by your employer for SSS premiums and Medicare Contributions c. amount earned per hour times number of hours worked d. gross pay less income tax withheld

not use ai please don't

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

Can someone please explain how I answer this question? It's question number 3

Wage and tax statement data on employer FICA tax Ehrlich Co. began business on January 2. Salaries were paid to employees on the last day of each month, and social security tax, Medicare tax, and federal income tax were withheld in the required amounts. An employee who is hired in the middle of the month receives half the monthly salary for that month. All required payroll tax reports were filed, and the correct amount of payroll taxes was remitted by the company for the calendar year. Early in the following year, before the Wage and Tax Statements (Form W-2) could be prepared for distribution to employees and for filing with the Social Security Administration, the employees' earnings records were inadvertently destroyed. None of the employees resigned or were discharged during the year, and there were no changes in salary rates. The social security tax was withheld at the rate of 6.0% and Medicare tax at the rate of 1.5% on salary. Data on dates of employment, salary rates, and…

Exercise 9-11 (Algo) Computing payroll taxes LO P2, P3 Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4 % of the first $7,000 paid to each employee. Cumulative pay for the current year for each of its employees follows. Employee Ken S Tim V Steve S Cumulative Pay $ 5,200 44,400 91,000 Employee Ken S Tim V Complete this question by entering your answers in the tabs below. Required A Compute the amounts in this table for each employee. Pay Subject to FICA Social Security Steve S Julie W Michael M Zach R Christina S Kitty O John W Totals a. Compute the amounts in this table for each employee. b. For the company, compute each total for FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, and SUTA taxes. Hint Remember to include in those totals any employee share of taxes that the company must collect. Required B Employee Julie W…

еBook Show Me How Compute Payroll An employee earns $36 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 50 hours during the week. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and federal income tax to be withheld was $455. a. Determine the gross pay for the week. b. Determine the net pay for the week. Round your answer to two decimal places. %24 %24

Q: If the Basic Salary of the employee is Rs.12000 Calculate the Total Gross Remuneration of that particular employee.