the unemployment taxes (FUTA and SUTA) that would be paid by each company.

Q: B. F. Goodson employs Eduardo Gonzales at a salary of $48,000 a year. Goodson is subject to employer…

A: Total cost means the sum of all the expenditure. Total cost also means the sum of fixed cost and…

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: An appliance company has three installers. Larry earns $395 per week, Curly earns $440 per week, and…

A: (a) calculate SUTA and FUTA tax (in $) does the company owe for the first quarter of the year and…

Q: Damien Carranza is a non-exempt employee for Verent Enterprise where he is a salesperson, earning a…

A: Gross pay is the sum of: Regular pay Commission Overtime pay

Q: Catherine is employed in ABC Corporation. She received the basic wage for 2015 in the total amount…

A: Tax refers to the amount charged by the government from the individual or companies on the income…

Q: Sheffield Corbin's regular hourly wage rate is $16, and she receives an hourly rate of $24 for work…

A: FICA tax = Gross pay  x FICA tax  rate = 760*7.65% = $58.14

Q: An appliance company has three installers. Larry earns $325 per week, Curly earns $470 per week, and…

A: Given that, Larry earns $325 per week Curly earns $470 per week  Moe earns $575 per week The…

Q: Lisa Meilo works for Pacific Company, which pays its employees time-and-a-half for all hours worked…

A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: Betsy Strand's regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in…

A: Journal entries show the recording of transactions during the accounting year and every transaction…

Q: During the month of March, Preston Company's employees earned wages of $90,000. Withholdings related…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Mandy Feng employs Jay Johnson at a salary of $35,000 a year. Feng is subject to employer Social…

A: Total cost to employer: Total cost includes employee's gross salary and employer's payroll taxes…

Q: Breakin Away Company has three employees-a consultant, a computer programmer, and an administrator.…

A: Breakin Away company has asked to compute Gross pay and Net pay by considering various factors like…

Q: Justin Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned…

A:

Q: An appliance company has three installers. Larry earns $345 per week, Curly earns $470 per week, and…

A: Wages are the earnings earned by the factory workers of a corporation. Wages are treated as a direct…

Q: An appliance company has three installers. Larry earns $345 per week, Curly earns $420 per week, and…

A: SOLUTION-  IN THE GIVEN CASE , FIRST WE HAVE TO ASCERTAIN THE TOTAL WAGES OF THESE THREE INSTALLERS…

Q: Shakera earns £45,000 p.a. as a graphic designer for Commercial Ltd, which prepares accounts to…

A: Ans. Salary income for tax year 2020/21 = £ 45,000 Bonus received for tax year 2020/21 = £ 8,000 (1…

Q: Ted Carman worked for Rivertide Country Club and earned $28,500 during the year. He also worked part…

A: Compute FUTA and SUTA taxes on Carman’s earnings paid by River-tide country club on first $8,000 as…

Q: In September Manson Paint Corporation began operations in a state that requires new employers of one…

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: Patricia Strand’s regular hourly wage rate is $22, and she receives an hourly rate of $33 for work…

A: Gross earnings = (40 hours x $22 per hour) + (Hours in excess of 40 hours x $33 per hour) =(40 hours…

Q: Paula Ryan pays her two employees $410 and $650 per week. Assume a state unemployment rate of 5.4%…

A: Introduction:- A tax is a governmental organization's mandatory financial charge or other type of…

Q: Edward Dorsey is a part-time employee, and during the biweekly pay period he earned $395. In…

A: The total wages are:

Q: Jim Brewer, owner of Arrow Company, has three employees who earn $200, $800, and $950  a week.…

A: (1) The Standard State Unemployment Tax (SUTA) rate is 5.4% (2) Given SUTA rate = 5.1% (3) Since it…

Q: In September Manson Paint Corporation began operations in a state that requires new employers of one…

A: Solution:- Introduction:- FUTA and SUTA are two payroll taxes, which are also known as Federal…

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: Christine Erickson is the payroll accountant for Multi Winds Energy of Lincoln, Nebraska. The…

A: Here discuss about the details of the payment of net pay which are incurred to the employees after…

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: Bailey Plyler has three employees in his carpet cleaning business. The payroll is semimonthly and…

A: If the employee of the corporation is entitle for SUTA tax, then the liability for FUTA tax becomes…

Q: During 2019, Jake Gore worked for two different employers. Until May, he worked for Wonderman…

A: Taxes are the liabilities or dues or amounts that are to be paid by individuals to the government

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: Daniel company has 10 employees who were paid the following wages during 1984. Tom-35,000…

A: Daniel company has 10 employees Total wages of employees = $35000 + 175000 + 175000 + 80000 + 75000…

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: Deep Mouse Designs has 14 employees within Denver City and County. The employees earned $9.80 per…

A: Salary earned by each employee per month=Number of hours worked×Per hour earning=160×$9.80=$1,568

Q: Determine the gross pay and the net pay for each of the three employees for the current pay period.…

A: Gross Pay:   The total amount such as salary, wages, commissions, overtime, and bonus paid by an…

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: Breakin Away Company has three employees-a consultant, a computer programmer, and an administrator.…

A: Computation is represented as below:

Q: In 2020, Willow Corporation had three employees. Two of the employees worked full-time and earned…

A: Amount paid under State Unemployment Tax = [($7,000. x 2 employees) + $4,000] x state unemployment…

Q: An appliance company has three installers. Larry earns $375 per week, Curly earns $490 per week, and…

A: FUTA stands for “Federal Unemployment tax Act” and SUTA stands for “State Unemployment tax Act.”…

Q: Less Nessman, owner of Flying Turkeys Corporation, has three employees who earn $500, $600, and…

A: Statement showing calculation of amount of contribution to state and federal unemployment by Less…

Q: The company pays its workers the difference between their regular wages and the amount received for…

A: Jury duty pay: It is the difference between the employee's regular wages and the amount received for…

Q: Margaret's regular hourly wage rate is $20.and she receives  an hourly rate of $30 for work in…

A: Introduction: Salary: Salary is given to employees for rendering their services to the company.…

Q: Catherine is employed in ABC Corporation. She received the basic wage for 2015 in the total amount…

A: Tax is a charge which is charged on the taxable income of a taxpayer. The withholding tax is the tax…

Q: During 2019, Jeff Smallwood worked for two different employers. Until May, he worked for Rowland…

A: Taxes refers to the amount charged by the government from the individual and organizations on the…

Q: a. Net FUTA tax b. SUTA tax

A:

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: Can I do a general journal entry on this scenario, if so how do i do it? Master Flow’s first…

A: Payroll deductions can include federal withholding taxes dues, social security taxes, medicare…

Q: The Wash Your Paws Self-Service Dog Wash, a California business, had two employees during the year.…

A: FUTA unemployment tax rate is 6%, when the company pays state unemployment tax, then it is entitled…

Q: Then compute his FICA tax deduction (6.2% for the Social Security portion and 1.45% for the Medicare…

A:

Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.