A paving company has 24 employees, 15 with gross earnings of $365 per week and nine with gross earnings of $395 per week. What is the total social security and Medicare tax (in $) the company must send to the Internal Revenue Service for the first quarter of the year? $ ______

Q: Calculate the weekly Net Pay for the first week in February 2021: Set up the employee in detail…

A: Payroll refers to the slip of payment to the employees. It also includes the calculation and…

Q: Ramirez Company has the following data for the weekly payroll ending January 31. Hours Employee M.…

A: Payroll accounting is done to record salaries and wages paid to the employees and what other…

Q: Toren Inc. employs one person to run its solar management company. The employee's gross income for…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: Universal Exporting has three warehouse employees: John Abner earns $422 per week, Anne Clark earns…

A: SUTA and FUTA are the payroll tax paid by the employers in the state and federal funds made for the…

Q: A worker is paid $10,000 per month and a dearness allowance of $2,000 p.m. Worker Contribution to…

A: Basic salary includes wages and dearness allowance. Contribution to provident fund is calculated on…

Q: Sky Co. employed Tom Mills in Year 1. Tom earned $5,300 per month and worked the entire yearAssume…

A: Tax refers to the financial charge which is compulsory in nature and it is imposed through the…

Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…

A: Date Account Titles and Explanation Debit Credit   Payroll Tax Expense $6850…

Q: Raymond Moss, vice president of Moss Auto Parts, gets an annual bonus of 15% of any income, before…

A: A bonus is monetary recompense that exceeds the recipient's usual payment expectations. Bonuses can…

Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…

A: Employee wages earned over a two-week period = $250,000 Medicare Tax  = 1.5% Medicare Tax ($250000 *…

Q: Nielson Corporation has three employees. Each employee is paid overtime at time and one-half…

A: Payroll Register A payroll register is a tool used to keep track of each employee's wage information…

Q: National Storage employs 88 workers with a gross monthly payroll of $139,000. Fringe benefits are…

A: Formula: Fringe benefits amount = Gross monthly payroll x Fringe benefits % of payroll Multiplying…

Q: A paving company has 24 employees, 15 with gross earnings of $355 per week and nine with gross…

A: Calculation of total social security and Medicare tax for the first quarter of the year: It was…

Q: The last weekly payroll of Availble Temp Services was $35,110.00 for 55 employees. The company pays…

A: The following computations are done for Available temp Services to calculate the total cost fringe…

Q: Required a. Prepare the journal entry to record the payment of payroll on December 31, Year 1. b.…

A: Payroll refers to the entire list of the employees of a company which includes the name of their…

Q: A paving company has 24 employees, 15 with gross earnings of $365 per week and nine with gross…

A: The number of employees of paving company = 24  The gross earnings of 15 employees per week = $365 *…

Q: An employee receives an hourly rate wage of $24, with time and a half for All hours worked in excess…

A: In this case, we have to deduct all the withheld income tax, Social Security tax & Medicare tax…

Q: JYD Accounting Firm pays its employees at a rate of $50/hr. The tax and other deductions amount to…

A: Net pay = Gross pay - taxes and other deductions

Q: An employee receives an hourly rate of $23.00, with time and a half for all hours worked in excess…

A: After withholdings have also been deducted from an employee's gross wage, net compensation is the…

Q: Toren Inc. employs one person to run its solar management company. The employee's gross income for…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: NEP Corp. has 15 employees each working 40 hours per week and earning $30 an hour. Federal income…

A: A payroll tax is a percentage levied by the state or federal government on the employee's salary,…

Q: Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to…

A: Payroll taxes is the amount that is held by the employer from the employees' earnings and pay it to…

Q: Westway Company pays Suzie Chan $3,060 per week. Assume Social Security is 6.2% on $128,400 and…

A: 1. Social Security Deduction = Payment per week ($3,060) x No of weeks in a year (52) x 6.2% =…

Q: BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its…

A: Answer : Date General Journal Debit Credit  Sep 30 Salaries expense 800.00     FICA—Social…

Q: Company has five employees. Employees paid by the hour earn $14 per hour for the reg nd the 40 hours…

A: a. Employee Cumulative Pay Current Period Gross Pay FIT Withholding FUTA FICA S.S. Employee FICA…

Q: An employee earned $62,500 during the year working for an employer. The FICA tax rate for Social…

A: Step 1 The unemployment taxes (FUTA) of $42 is obtained by multiplying the earnings of $7,000 with…

Q: to the employee. FICA Social Security and FICA Medicare match employee deductions. The employer is…

A: Journal entry: Journal entry is the book of original entry where first transactions are recorded in…

Q: nal Storage employs 88 workers with a s monthly payroll of $133,000. Fringe efits are 8.6% of…

A: As you posted multiple questions we are answering only one question. Kindly repost the unanswered…

Q: Nielson Corporation has three employees. Each employee is paid overtime at time and one-half…

A: Payroll is the salary register maintained by the HR department of the company which includes the…

Q: Record the journal entry to recognize employee payroll for the month of May, dated May 31, 2017.…

A: Journal entry: Journal entry is the book of original entry where first transactions are recorded in…

Q: A company has four employees who each work 40 hours per week and earn $38 per hour. Federal tax on…

A: Payroll tax expense of employer includes social security tax , medicare tax and unemployment taxes.…

Q: Urban Window Company had gross wages of $360,000 during the week ended July 15. The amount of wages…

A: Social Security tax = Social Security Taxable Earnings x Social Security tax rate = $360,000*6.20% =…

Q: se the following information for the Exercises below. [The following information applies to the…

A: Payroll taxes are defined as the taxes that are imposed on employees or employers and generally…

Q: JYD Accounting Firm pays its employees at a rate of $50/hr. The tax and other deductions amount to…

A: Gross pay is the total amount that is being payable to workers either on the basis of number of…

Q: National Storage employs 88 workers with a gross monthly payroll of $131,000. Fringe benefits are…

A: Total fringe benefit =(Payroll * fringe benefit %) + (rate of life insurance * no. of worker)

Q: Toren Inc. employs one person to run its solar management company. The employee’s gross income for…

A: FICA Social Security tax = gross income for the month x FICA Social Security tax rate = $4,708 x…

Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…

A: Accounts Debit Credit  Wages expense 250000     Social security tax payable (6% x $250000)…

Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…

A: Particular     Debit ($)       Credit ($)…

Q: [The following information applies to the questions displayed below.] BMX Company has one employee.…

A: The gross earnings is earning without any deduction. It is revenue less cost of goods sold. Tax…

Q: 1.A paving company has 24 employees, 15 with gross earnings of $365 per week and nine with gross…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: An appliance company has three installers. Larry earns $375 per week, Curly earns $440 per week, and…

A: (a) Larry earns $375 per week (b) Curly earns $440 per week (c) Moe earns $595 per week (d) It is…

Q: Simpson manages a Dairy King ​drive-in. His​ straight-time pay is $16 per​ hour, with​…

A: Gross total income: This income means that those incomes were collected from all income sources.…

Q: The chief executive officer earns $21,000 per month. As of May 31, her gross pay was $105,000. The…

A: Federal Insurance Contribution Act is a payroll tax that is deducted from the paycheck of the…

Q: A company’s first weekly pay period of the year ends on January 8. Sales employees earned $30,000…

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: An accountant must pay taxes and payroll bonuses to employees from the company’s profits of…

A: Company's Profit =$2000,000

Q: TopStone Inc. employs one person to run its solar management company. The employee's gross income…

A: Employees gross income includes the basic pay, allowances, fringes and benefits etc. for which he or…

Q: William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is…

A: Social Security Tax Payable = wages x  Social security tax rate = $250,000 x 6% = $15,000

Q: Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to…

A: FICA (Federal Insurance Contributions Act) taxes are social security and Medicare taxes that both…

Q: Family Flowers employs 17 people, of whom 14 earn gross pay of $660.00 each and 3 earn gross pay of…

A: Number of people employed are 17 Out of which 14 earn $660 each and 3 earn $740 each.