The Germaine Corp has 18 employees who all make $9.59 per hour. They all worked 77 hours last payroll period. Calculate the Germaine's payroll tax liability for its employees for the period. Assume the following tax rates: Social Security 6.20%, Medicare 1.45%, Federal income tax 10%.

Q: Portia Grant is an employee who is paid monthly. For the month of January of the current year, she…

A: Federal income tax refers to the tax levied by the Internal Revenue Service (IRS) on the desired…

Q: During the first week of January, an employee works 48 hours. For this company, workers earn 150% of…

A:

Q: The chief executive officer earns $10,020 per month. As of May 31, her gross pay was $50,100. The…

A: please like the answer your response matters Answer: Gross Annual income = $ 10,020  x 12 = $…

Q: An employee earned $61,700 during the year working for an employer. The FICA tax rate for Social…

A: The employee has earned $ 61700 during the year

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: 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: An employee receives an hourly rate of $18, with time and a half for all hours worked in excess of…

A: Introduction:- The following basic information as follows under:- Federal income tax withheld, $144…

Q: For all payroll calculations, use the following tax rates and round amounts to the nearest cent…

A: 1.Prepare journal entry to record the employee bonus expense.

Q: An employee receives an hourly wage rate of $15, with time-and-a-half for all hours worked in excess…

A: Payroll accounting is a part of accounting which is made to record transaction made in the favor of…

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: According to a summary of the payroll of Mountain Streaming Co., $110,000 was subject to the 6.0%…

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

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: An employee earned $37,000 during the year working for an employer when the maximum limit for Social…

A: Formula to calculate  employee's annual FICA taxes amount:Employee's annual FICA taxes = Employee…

Q: Martin Jackson receives an hourly wage rate of $18, with time and a half for all hours worked in…

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

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: Assume that the MUST Co. pays a weekly payroll. Using the portion of the Wage Bracket Withholding…

A: The answer is $44.60.

Q: Old Town Entertainment has two employees in Year 1. Clay earns $4,800 per month, and Philip, the…

A: Net pay the pay which is left with the employee after paying all the taxes and contributions which…

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: The following date for Presco Inc. relate to the payroll for the week ended February 9: Employee…

A: A's overtime=Hours worked-Hours per week=52-40=12 hours

Q: An employee earned $44,800 during the year working for an employer when the maximum limit for Social…

A: Formula: FICA tax amount = Social security tax + Medicare tax amount

Q: Martin Jackson receives an hourly wage rate of $17, with time and a half for all hours worked in…

A: Compute gross pay of Martin Jackson as shown below:

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: An employee receives an hourly wage rate of $23, with time-and-a-half for all hours worked in excess…

A: Definition: The net amount payable to the employee is the amount paid net of taxes. It is calculated…

Q: Thomas Longbow is the only employee of Presido, Incorporated During the first week of January,…

A: Amount of Employee Payroll Check= Income Earned  - Federal and State withholding tax  - FICA…

Q: An employee earned $45,400 during the year working for an employer when the maximum limit for Social…

A: The FICA tax amount is the sum of 6.2% social security tax and 1.45% Medicare tax on the employee…

Q: An employee receives an hourly rate of $22, with time and a half for all hours worked in excess of…

A: The entire amount of fixed earnings earned during a specific time period is referred to as a…

Q: Thomas Martin receives an hourly wage rate of $17, with time-and-a-half pay for all hours worked in…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: In January, the payroll supervisor determines that gross earnings for Sandhill Company are $108,000.…

A: Social Security tax = Gross Earnings x Social Security tax rate = $108000*6.20% = $6,696  Medicare…

Q: Dixon Sales has six employees that receive weekly paychecks. Each employee earns $14.00 per hour and…

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

Q: Sunland Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all…

A: Journal is the recording of financial transactions which ahead help in preparing the ledgers, trial…

Q: The chief executive officer earns $10,120 per month. As of May 31, her gross pay was $50,600. The…

A: please like the answer your response matters Answer: Gross Annual income = $ 10,020  x 12 = $…

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: During the first week of January, an employee works 45 hours. For this company, workers earn 150% of…

A: Net Pay=Gross pay-Deductions

Q: An employee earns $5,500 per month working for an employer. The FICA tax rate for Social Security is…

A: Calculation of Net pay for the month of January is as follows:

Q: According to a summary of the payroll of Mountain Streaming Co., $110,000 was subject to the 6.0%…

A: Taxation refers to the imposition of compulsory financial obligations by the government on…

Q: Peyton Company's payroll for the year is $741,150. Of this amount, $472,770 is for wages paid in…

A: Federal income taxes are imposed in USA. The income tax is calculated by implementing tax rate which…

Q: Assume that the MUST Co. pays a weekly payroll. Using the portion of the Wage Bracket Withholding…

A:

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: Prepare the journal entry to record the January 31 payroll expense and salaries. The employer…

A:

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: During the first week of January, an employee works 50 hours. For this company, workers earn 150% of…

A: Pay rate is $20/hour. Standard number of hours to be worked in a week = 40 Standard pay = 40 x 20 =…

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: Thomas Martin receives an hourly wage rate of $24, with time-and-a-half pay for all hours worked in…

A: Financial Management: Financial management comprises of two words i.e. Finance and management.…

Q: An employee earned $60,700 during the year working for an employer. The Federal Insurance…

A: Given that, Earning of employee = $60,700  FICA tax rate for medicare = 1.45% SUTA tax rate = 5.4%…

Q: During the first week of January, an employee works 44 hours. For this company, workers earn 150% of…

A: Gross pay is the amount payable to employee based on their actual salary without any deduction of…

Q: An employee earns $5,750 per month working for an employer. The FICA tax rate for Social Security is…

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

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: Martin Jackson receives an hourly wage rate of $15, with time and a half for all hours worked in…

A: Gross pay = Regular pay + Overtime pay   Net pay = Gross pay - Federal income taxes withheld -…