Don Beldon earns $7.50/hour, and worked 43 hours during the most recent week. He participates in a cafeteria plan, to which he pays $100 each period. Don Beldon is single, and claims three federal and two state withholding allowances. What is the Federal Withholding amount and What is the State Withholding amount?
Q: Lenny Florita, an unmarried employee, works 48 hours in the week ended January 12. His pay rate is…
A: Compute the net pay.
Q: 2. Jonathan Olsen earns $9.10/hour, and worked 47 hours during the most recent week. He participates…
A: A payroll register is maintained by the employee. In this register, the employee records the details…
Q: Suzanne works in a garment factory and is paid a basic rate of $19.26 for each hour worked between…
A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…
Q: Sam Wilder earns $19.35/hour, and worked 53 hours during the most recent week. She participates in a…
A: The wage tax bracket method is used for calculating the tax retention of employee's tax…
Q: When employees of County Bank are summoned toserve on jury duty, the firm pays its workers the…
A: Federal insurance contribution act (FICA) taxes are the payroll taxes that are withheld from…
Q: Miguel, a single teacher, earns $1,500 every two weeks (biweekly). He claims two allowances. What is…
A: Federal Income tax Withhold For calculating the Federal Income tax with by using Wage bracket method…
Q: Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00…
A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…
Q: Ian McCarthy works for Willow Tree Homes. His rate of pay is $16.00 per hour and he is paid one and…
A: 1) Calculation of Pay: Gross Pay = 40 hours ×$16= $640 Overtime Pay = 5 hours × $16 × 1.5= $120…
Q: maggie vitteta, single, works 40 hours per week at $12.00 an hour. how much is taken out for federal…
A: (1) Employee - Maggie Vitteta (2) Status - Single (3) Number of Hours Worked = 40 hours per week (4)…
Q: During a recent week, Charlie Scott works 37 regular hours. He earns $9/hour and contributes 3% of…
A: Taxable income is the portion of your gross income that the IRS deems subject to taxes. It consists…
Q: Abigail Trenkamp owns and operates the Trenkamp Collection Agency. Listed below are the name, number…
A: Given: Trenkamp uses a weekly federal income tax withholding table. Social Security tax is withheld…
Q: Justin Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned…
A:
Q: Prepare the journal entries to record (a) Oriole’s pay for the period and (b) the payment of…
A:
Q: ennifer Ross, an employee of Hampton Company, worked 44 hours during the week of February 9 through…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: Lenny Florita, an unmarried employee, works 46 hours in the week ended January 12. His pay rate is…
A:
Q: Elizabeth’s regular hourly wage rate is $22, and she receives an hourly rate of $33 for work in…
A: Gross earnings = (40 hours x $22 per hour) + (Hours in excess of 40 hours x $33 per hour) =(40 hours…
Q: Elize’s regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess…
A: Gross earnings for an employee or an individual is the total income earned by him or her in a period…
Q: Lenny Florita, an unmarried employee, works 50 hours in the week ended January 12. His pay rate is…
A:
Q: is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay…
A: Normal Pay $20×40 =$800 Over time pay $30×10…
Q: Vaughn Corbin's regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in…
A: Gross earnings = (40 hours x rate per hour) + (hours in excess of 40 hours x rate per hour ) = (40 x…
Q: Ian McCarthy works for Willow Tree Homes. His rate of pay is $16.00 per hour and he is paid one and…
A: Part 1:
Q: Jane Heinlein is the payroll accountant for Sia Lights of Carter, Nebraska. The employees of Sia…
A: Net pay:The amount of pay employee gets in hand after making various deductions is known as the net…
Q: Herman Swayne is a waiter at the Dixie Hotel. In his first weekly pay in March, he earned $360.00…
A: Net pay is the final pay after taking into consideration all the deductions. The calculation is…
Q: Justin Mathews is a waiter at the Delixe Lounge. In his first weekly pay in March, he earned…
A: Here discuss about the details of the net pay which are incurred after the whole statutory deduction…
Q: Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00…
A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…
Q: Coronado Corbin’s regular hourly wage rate is $16, and she receives an hourly rate of $24 for work…
A: Gross pay is the measure of cash of the worker get before the tax and allowances . Net pay is the…
Q: Maggie Vitteta, single, works 30 hours per week at $14.00 an hour. How much is taken out for federal…
A: Here asking about to calculate the Federal Income taxes using the withhold allowance for single tax…
Q: 9. Joe is married and claims three allowances. The gross earnings on his last biweekly check were…
A: The federal withholding tax rate is applicable based on the filing status of the taxpayer and the…
Q: Mike Mays is a waiter at the Dixie Motel. In his first weekly pay in March, he earned $360 for the…
A: Payroll accounting is one of accounting system which is used by business entities to record the…
Q: Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00…
A: In this question, federal income tax year didn't mentioned. I am assuming for the year 2019.Note:…
Q: If his gross pay is $1,306.88, determine his weekly net earnings
A: Given information is: Gross pay= $1306.88 Deductions are also given.
Q: Mary Stine's regular hourly wage rate is $12, and she receives an hourly rate of $18 for work in…
A: Given the following information: Regular hourly wage rate: $12 Hourly rate for work in excess of 40…
Q: Paquito, a university instructor, earns a gross monthly salary of ₱46,200.00. Paquito is married and…
A: Net income per month = 46200 - 590 - 397.50 - 100 - 4300 = 40812.50 Net income per year = 40812.50 *…
Q: Connor has an annual salary of $43,000, and his company pays him twice a month. How much is withheld…
A: FICA includes three kind of withheld:- 1) Social Security Tax - 6.2% from the first $137,700 an…
Q: Prior to the current period, Omar Phipps had earnings subject to Social Security tax of $115,800.…
A: The maximum income subject to social security tax for the year 2021 is = 142800 2022 is = 147000
Q: Sophie Gowna, 47 years old, works for an Ontario company with a Bi-weekly pay cycle. She earns $18.5…
A: Introduction Insurable earning is maximum amount of earnings reported in earning statement or wage…
Q: Justin Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned…
A: Net take home pay means gross pay after deducting all the payroll taxes like federal income tax,…
Q: Thomas earns $52,000 per year in salary. You pay 15% for federal income tax, no state taxes, no…
A:
Q: Anderson Brown worked 39 hours during the first week of the calendar year and earns regular wages of…
A: Social Security Tax:- Social Security tax is imposed on both the employee and employer of the firm…
Q: Sophie Gowna, 47 years old, works for an Ontario company with a Bi-weekly pay cycle. She earns $18.5…
A: Pensionable earnings refer to those earnings which are useful to evaluate the pension contributions…
Q: 5. Sam Wilder earns $19.35/hour, and worked 53 hours during the most recent week. She participates…
A: The tax withholding means the retention of tax that is payable by the taxpayer, the tax is…
Q: Ian McCarthy works for Willow Tree Homes. His rate of pay is $16.00 per hour and he is paid one and…
A: Regular Pay (40*16) $640.00 Overtime pay (5*16*1.5) $120.00 Gross pay $760.00 Net pay…
Q: Nathan Upton earns $11.80/hour, and worked 42 hours during the most recent week. He does not make…
A: Social security tax refers to the benefit that is received each year by the person who is retired,…
Q: nter deductions beginning with a minus sign (-). Round interim amounts to two decimal places. Use…
A: Calculation of Net pay using the wage bracket Particulars Amount Gross Pay $300 Federal…
Q: Jennifer Ross, an employee of Hampton Company, worked 43 hours during the week of February 9 through…
A: Compute regular pay, overtime pay, and gross pay.
Q: Bramble Corbin's regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in…
A: Gross salary = (40 hours x $20) + (45 hours - 40 hours) x $30 = $950 FICA taxes…
Q: Karen’s Moore is married, claims five withholding allowances, and earns $3,500 per month. In…
A: State tax = gross pay * tax rate = 3500 * 2.1% = $73.5 State disability insurance = gross pay * 1/2…
Q: Thuy worked as the assistant manager at Burger Crown through August 2021 and received wages of…
A: The social security taxes are the payroll taxes required to be paid by the employers and employees.…
Q: Don Beldon earns $7.50/hour, and worked 43 hours during the most recent week. He participates in a…
A: The wage tax bracket method is used for calculating the tax retention of employee's tax…
Q: Then compute his FICA tax deduction (6.2% for the Social Security portion and 1.45% for the Medicare…
A:
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- Payroll Accounting Jet Enterprises has the following data available for its April 30, 2019, payroll: *All subject to Social Security and Medicare matching and withholding of 6.2% and 1.45%, respectively. Federal unemployment taxes of 0.70% and state unemployment taxes of 0.90% are payable on $405,700 of the wages earned. Required: 1. Compute the amounts of taxes payable and the amount of wages that will be paid to employees. Then prepare the journal entries to record the wages earned and the payroll taxes. ( Note: Round to the nearest penny.) 2. CONCEPTUAL CONNECTION Jet would like to hire a new employee at a salary of $65,000. Assuming payroll taxes are as described above (with unemployment taxes paid on the first $9,000) and fringe benefits (e.g., health insurance, retirement, etc.) are 25% of gross pay, what will be the total cost of this employee for Jet?Reference Figure 12.15 and use the following information to complete the requirements. A. Determine the federal income tax withholdings amount per monthly pay period for each employee. B. Record the employee payroll entry (all employees) for the month of January assuming FICA Social Security is 6.2%, FICA Medicare is 1.45%, and state income tax is equal to 3% of gross income. (Round to the nearest cent if necessary.)Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "0". Round your calculations and final answers to the nearest cent. Table of Allowance Values for 2019 Weekly 80.80 Biweekly 161.50 Semimonthly 175.00 Monthly 350.00 Quarterly 1,050.00 Semiannual 2,100.00 Annual 4,200.00 Daily/Misc. 16.20 Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "0". Round your calculations and final answers to the nearest cent. EmployeeNo. Employee Name MaritalStatus No. of WithholdingAllowances Gross Wageor Salary Amount to BeWithheld 1 Amoroso, A. M 0 $1,610 weekly $ 2 Finley, R. S 0 825 biweekly 3 Gluck, E. S 2 9,630 quarterly 4 Quinn, S. M 8 925 semimonthly 5 Treave, Y. S 2 2,875 monthly
- As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Payroll Systems with Forms W-4 from 2019 or earlier and 2020 FICA rates have been used. Example 4-12 To compute the tax using the percentage method for Manual Payroll Systems with Forms W-4 or Earlier, follow the steps illustrated below. Step 1Determine the amount of gross wages earned, marital status, number of allowances, and frequency of pay. Note: If the wage ends in a fractional dollar amount, the wage may be rounded to the nearest dollar. However, in this text, exact wages are used. → Wilson Goodman, single, claims two allowances and earns $915.60 semimonthly. Step 2Multiply the number of allowances claimed by the amount of one allowance for the appropriate payroll period, as shown in the Table of Allowance Values in Figure 4.19. → Table of Allowance Values for…Mastering Payroll 2020 - Section 6-How Employers Withhold and Deposit Federal Taxes 4. Determine when each of the following must deposit its Form 941 tax liabilities.a. Slowque, a monthly depositor, pays employees on Friday. Its total 941 depositobligation for wages paid on September 4, 2020, is $2,000.b. Lopez & Sons, a monthly depositor, pays employees on the 15th and last day of themonth. Its 941 deposit obligation for wages paid on June 26, 2020, is $112,400.Using the percentage method for manual payroll with W-4s from 2020 or later in Appendix C calculate the federal withholding amounts for the following employees. No information was included in Step 4 of the W-4, and no box was checked in Step 2. (Round your intermediate calculations and final answers to 2 decimal places.)
- Assume that the company is subject to a two percent state unemployment tax (due to a favorable experience rating) and a 0.6 percent federal unemployment tax.RequiredRecord the following in general journal form on May 31:a. Accrual of the monthly payroll.b. Payment of the net payroll.c. Accrual of employer's payroll taxes. (Assume that the FICA matches the amount withheld.)d. Payment of these payroll-related liabilities. (Assume that all are settled at the same time.) Round your answers to the nearest dollar.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. As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used. Click here to access the Percentage Method Tables. Click here to access the Wage-Bracket Method Tables. Amount to BeWithheld Employee FilingStatus No. of WithholdingAllowances Gross Wageor Salary PercentageMethod Wage-BracketMethod Lennon, A. S N/A $675 weekly $fill in the blank 1 $fill in the blank 2 Starr, P. S N/A 1,365 weekly fill in the blank 3 fill in the blank 4 McNeil, S. MFJ N/A 1,775 biweekly…Since the SUTA rates changes are made at the end of each year, the available 2019 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the net FUTA tax rate for employers. Example 5-10 The following unemployment tax rate schedule is in effect for the calendar year 2020 in State A, which uses the reserve-ratio formula in determining employer contributions: Reserve Ratio Contribution Rate 0.0% or more, but less than 1.0% 6.7% 1.0% or more, but less than 1.2% 6.4% 1.2% or more, but less than 1.4% 6.1% 1.4% or more, but less than 1.6% 5.8% 1.6% or more, but less than 1.8% 5.5% 1.8% or more, but less than 2.0% 5.2% 2.0% or more, but less than 2.2% 4.9% 2.2% or more, but less than 2.4% 4.6% 2.4% or more, but less than 2.6% 4.3% 2.6% or more, but less than 2.8% 4.0% 2.8% or more, but less than 3.0% 3.7% 3.0% or more, but less than 3.2% 3.4% 3.2% or more 3.1% Hyram Company, which is located in State A, had an average…
- Since the SUTA rates changes are made at the end of each year, the available 2019 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the net FUTA tax rate for employers. Example 5-10 The following unemployment tax rate schedule is in effect for the calendar year 2020 in State A, which uses the reserve-ratio formula in determining employer contributions: Reserve Ratio Contribution Rate 0.0% or more, but less than 1.0% 6.7% 1.0% or more, but less than 1.2% 6.4% 1.2% or more, but less than 1.4% 6.1% 1.4% or more, but less than 1.6% 5.8% 1.6% or more, but less than 1.8% 5.5% 1.8% or more, but less than 2.0% 5.2% 2.0% or more, but less than 2.2% 4.9% 2.2% or more, but less than 2.4% 4.6% 2.4% or more, but less than 2.6% 4.3% 2.6% or more, but less than 2.8% 4.0% 2.8% or more, but less than 3.0% 3.7% 3.0% or more, but less than 3.2% 3.4% 3.2% or more 3.1% Conrad Company, which is located in State A, had an average…Since the SUTA rates changes are made at the end of each year, the available 2019 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the net FUTA tax rate for employers. Example 5-10 The following unemployment tax rate schedule is in effect for the calendar year 2020 in State A, which uses the reserve-ratio formula in determining employer contributions: Reserve Ratio Contribution Rate 0.0% or more, but less than 1.0% 6.7% 1.0% or more, but less than 1.2% 6.4% 1.2% or more, but less than 1.4% 6.1% 1.4% or more, but less than 1.6% 5.8% 1.6% or more, but less than 1.8% 5.5% 1.8% or more, but less than 2.0% 5.2% 2.0% or more, but less than 2.2% 4.9% 2.2% or more, but less than 2.4% 4.6% 2.4% or more, but less than 2.6% 4.3% 2.6% or more, but less than 2.8% 4.0% 2.8% or more, but less than 3.0% 3.7% 3.0% or more, but less than 3.2% 3.4% 3.2% or more 3.1% Hyram Company, which is located in State A, had an average…Prepare the general journal entry to record the employer's payroll taxes. Assume rates of 0.6 percent for federal unemployment tax and 5.4 percent for state unemployment tax based on the first $7,000 for each employee. Also assume that no employee has earned more than $7,000. If an amount box does not require an entry, leave it blank. If required, round your intermediate calculations and final answers to the nearest cent and use the rounded answers in subsequent computations.