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- N2. Question Content Area Baker Green's weekly gross earnings for the week ending December 7 were $2,200, and her federal income tax withholding was $264. Assuming the social security rate is 6% and Medicare is 1.5%, and all earnings are subject to FICA taxes, what is Green's net pay? Round your answer to the nearest whole dollar.$fill in the blank 1ajt.4 An employee earns $22 per hour and 2 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 $177.10. a. Determine the gross pay for the week. b. Determine the net pay for the week. Round to two decimal places.H9.C2 Paloma Company has four 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. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0,6% and SUTA taxes are 5.4%. The company Is preparing its payroll calculations for the week ended August 25. Payroll records show the following Information for the company's four employees. Name Dali Trey Kiesha Chee Gross Pay through August 18 Dali: $ 136,600 Trey: 136,800 Kiesha: 6,900 Chee: 1,250 gross Pav Dali: $ 2,000 Trey: 900 Kiesha: 450 Chee: 400 Current Week Income Tax Withholding Dali: $284 Trey: 145 Kiesha: 39 Chee: 30 In addition to gross pay, the company must pay two-thirds of the $60 per employee weekly health insurance; each employee pays the remalning one-third. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: places.) Compute the following for the…
- Knowledge Check 01Equinox is a local boutique that sells gift cards especially before holidays. At November 30, the company’s Deferred gift card revenue account had a balance of $400. During December, the company sold additional gift cards in the amount of $5,000, customers redeemed $1,000 of gift cards, and unused gift cards in the amount of $300 expired. What is the balance of Deferred gift card revenue that will be reported at December 31?Problem # 7 What payment should be made on an invoice in the amount of $9,400 dated January 11 if the terms of sale are 2/15, 1/30, n/45 and the bill is paid on a. January 23? b. February 20?Exercise 10-07 Steven Noll’s gross earnings for the week were $2,700, his federal income tax withholding was $486, and his FICA total was $207. There were no state income taxes. What was Noll’s net pay for the week? Net pay $ SHOW LIST OF ACCOUNTS LINK TO TEXT Journalize the entry for the recording of his pay in the general journal. (Note: Use Salaries and Wages Payable, not Cash.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT Record the issuing of the check for Noll’s pay in the general journal. (Credit account titles are automatically…
- Accounting A company’s employee earns a monthly salary of 1.400€. Income taxes withheld are 280 €. Social security contributions made by employee are 5% while the ones done by the employer, represent 12%. Payment always takes place on the 28th of each month. What is the total amount of the monthly liabilities recorded by the company for this employee if the accounting entry is being recorded on the last day of the month? Select one: a. 1,400 b. 518 c. 350 d. I want to leave the question blank e. 238 If answered within 30mins, it would be greatA super saver savings Account pays interest of 2.15%. Interest is calculated on the daily closing balance and paid at the close of business on the last day of the month. How much interest will be lost for the month of may if $6000 is withdrawn from the account on May 3 and the opening balance on May 1 is $ 14,032?The interest loss $_________Accounting Allie deposits money into her savings account each month. The table shows the balance in the account for the corresponding month. Time (months ) 8 10 12 14 Money (dollars ) 350 410 470 530 How much money was in Allie's account before she started making monthly depositsdeposits?
- Question A You received invoices from Wengo Industries dated Jan 20 for $2800, Jan 25 for $4200, and Feb 1 (non-leap-year) for $1500. You have also made a payment of $4800 on Jan 27th. The invoices all have terms of 3/10, n/30. What is the outstanding balance on the January 25th invoice after the January 27th payment? Full explain this question and text typing work only We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this lineSTUDENT ID (last 6 digits only) 145399 {A} 3.99 % {B} monthly {C} $ 145,399.00 {D} $ 163,954.00 {E} $ 156,510.00 {F} 14 months {G} quarterly {H} 5.49 % {I} semi-annually Mini-Case Jagmeet is hoping to start a non-profit organization to help families with critically-ill children pay for the travel and accommodation costs associated with seeking medical care outside of the Greater Sudbury Area. As a graduate of of the General Business program at Cambrian College, he applied for and received a large grant. During the planning phase of his venture, he invested all of this grant money at {A} compounded {B}. After two years of compound interest, the invested grant money accumulated to {C}. Conveniently, this was the exact amount needed to fund his non-profit, and to begin helping the community.. PART A What was the original grant amount…32)April 30, a three-year insurance policy was purchased for $18,000 with coverage to begin immediately. What is the amount of insurance expense that would appear on the company's income statement for the year ended December 31? (Hint: The first year insurance policy is from 5/1 to 12/31.) Group of answer choices $4,000. $500. $14,000. $6,000.
