Compute Payroll 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. $

Q: Calculate Payroll An employee earns $20 per hour and 1.5 times that rate for all hours in excess of…

A: GIVEN DATA     An employee earns $20 per hour and 1.5 times that rate for a hours in excess of 40…

Q: An employee earns $24 per hour and 1.5 times that rate for all hours in excess of 40 hours per week.…

A: Formula: Net Pay = Gross pay - Total deductions Deductions are to be subtracted  from Gross pay to…

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following:…

A: Journal entry: It is the duty of the accountant to record business economic and non-economic…

Q: An employee earns $40 per hour and 1.75 times that rate for all hours in excess of 40 hours per…

A: a. Gross earnings = (40 hours x $40 per hour) + (Hours in excess of 40 hours x $40 per hour x 1.75…

Q: The payroll register for Gamble Company for the week ended April 29 indicated the following:…

A: Journal entry refers to the recording made by the business in the books of accounts, of all the…

Q: Compute payroll An employee earns $28 per hour and 1.5 times that rate for all hours in excess of…

A: Over time done is 6 hours  Wage rate will be  42$ in over time   (  28$× 1.5)

Q: Selected information from the payroll register of Joanie's Boutique for the week ended September 14,…

A: Given :  Social Security tax = 6.2% Medicare tax  = 1.45% FUTA tax  = 0.6%  SUTA tax =  5.4% on the…

Q: a. Journalize the entry to record the payroll for the week of July 15.* b. Journalize the entry to…

A: ournal: Recording of a business transactions in a chronological order.

Q: Compute Payroll An employee earns $20 per hour and 1.75 times that rate for all hours in excess of…

A:

Q: Employee Net Pay Lindsey Vater’s weekly gross earnings for the week ended March 9 were $800, and…

A: Gross pay is the total wages or salary earned by an employee during an accounting period. Net pay is…

Q: Payroll Accounting and Discussion of Labor Costs Blitzen Marketing Research paid its weekly and…

A: Introduction: A journal entry is an act of recording or keeping track of any financial or…

Q: Calculate Payroll An employee earns $32 per hour and 1.75 times that rate for all hours in excess…

A: Introduction: Payroll accounts are maintained separately to record the salaries paid to everyone in…

Q: An employee earns $36 per hour and 1.75 times that rate for all hours in excess of 40 hours per…

A: Since the employee works for an overtime of additional 15 hours   55 - 40 15 hrs His wage rate for…

Q: The payroll register for Gentry Company for the week ended December 17 indicated the following:…

A: If a business has employees, it has to record for payroll. Payroll is the aggregate expenditure on…

Q: Compute Payroll An employee earns $22 per hour and 2 times that rate for all hours in excess of 40…

A: The gross pay of an employee indicates the total earnings to an employee for the services provided.…

Q: Calculate Payroll An employee earns $24 per hour and 1.75 times that rate for all hours in excess…

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

Q: Portions of the payroll register for Barney's Bagels for the week ended July 15 are shown below. The…

A: Employer Payroll tax expense = Social Security tax + Medicare tax + FUTA tax + SUTA tax

Q: 1. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize…

A: 1. a. Reference: b. Reference:

Q: Calculation and Journal Entry for Employer Payroll Taxes Portions of the payroll register for La…

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

Q: Payroll registerThe following data for Throwback Industries Inc. relate to the payroll for the…

A: A payroll register is a register in which all the data related to the individual working in the…

Q: An employee earns $22 per hour and 2 times that rate for all hours in excess of 40 hours per week.…

A:

Q: Payroll Accounting and Discussion of Labor Costs Blitzen Marketing Research paid its weekly and…

A: Note: As per our guidelines, we will solve the first three sub-parts for you.   1. Date Account…

Q: CALCULATING PAYROLL TAXES EXPENSE AND PREPARING JOURNALENTRY Selected information from the payroll…

A: SUTA stands for "The State Unemployment Tax Act".  SUTA tax will be levied on the total unemployment…

Q: Urban Window Company had gross wages of $320,000 during the week ended July 15. The amount of wages…

A: The employer withholds the Employees Federal Income Tax payable from their Wages. The employer…

Q: The payroll registers for Schmidt Company for the week ended April 29 indicated the following:…

A:

Q: Calculation and Journal Entry for Employer Payroll Taxes Portions of the payroll register for…

A: Payroll accounting keeps track of your employees' wages and accounts for any extra expenses incurred…

Q: Calculate payroll An employee earns $30 per hour and 1.5 times that rate for all hours in excess of…

A: The calculation of gross pay has been made as follows: Gross pay =Regular pay + Overtime pay…

Q: CALCULATION AND JOURNAL ENTRY FOR EMPLOYER PAYROLL TAXES Portions of the payroll register for…

A: Payroll taxes are the amount of taxes that is being payable on salaries payable to employees.

Q: Payroll summary The following data for Throwback Industries Inc. relate to the payroll for the week…

A: A payroll register is a register in which all the data related to the individual working in the…

Q: The summary of the payroll for the monthly pay period ending July 15 indicated the following:…

A: State Unemployment Tax Payable = Salaries Expense x state unemployment tax rate = 30000*3.1% = $930…

Q: The payroll register for Heilman Mfg. for the week of August 20th indicates the following: salaries…

A: Prepare journal entry to record payroll for the week of August 20:

Q: The summary of the payroll for the monthly pay period ending July 15 indicated the following:…

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

Q: Additional Information: 1. Income tax at the rate of 20% is applicable to those employees whose…

A: Payroll Expenses It is important for the business entity to prepare the payroll expenses which are…

Q: XYZ Company is processing payroll for the week ending January 9th. Employee earnings total $5,000.…

A: An entry in a payroll diary is a record of the salary that an employer gives to its employees.…

Q: ) Journalize the payroll entry for the week. DATE   Debit Credit X/X…

A:

Q: The gross payroll total for all employees of Yanni's Gyros this month is $120,000. All employees'…

A: Introduction:- Federal Tax, State Tax and FICA tax are withheld from employee's wages.

Q: Wallace Corporation summarizes the following information from its weekly payroll records during…

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

Q: Based on the information below, Prepare the journal entry to record Regis’s (employer) payroll taxes…

A: 1). Journal Entry to record Regis's payroll taxes resulting from the Jan 8 payroll :- Date…

Q: Compute Payroll An employee earns $24 per hour and 1.75 times that rate for all hours in excess of…

A: Solution:- a)Calculation of the gross pay for the week as follows:- =Normal wages + Overtime wages

Q: Wage and tax statement data on employer FICA tax Ehrlich Co. began business on January 2, 20Y8.…

A: W-2 is the form that is filled by the employer stating the annual wage payments to the employees and…

Q: Calculating Payroll Taxes Expense and Preparing Journal Entry Selected information from the payroll…

A: Gross pay: It is the total amount of wages earned by employees without deducting any taxes or…

Q: Calculate Payroll An employee earns $44 per hour and 1.75 times that rate for all hours in excess of…

A: Solution:- a)Calculation of  gross pay for the week as follows:- Gross earnings = (40 hours x $44…

Q: Nov. 30: Journalized the monthly payroll for November, based on the following data: Salaries…

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

Q: The following data for Throwback Industries Inc. relate to the payroll for the week ended December…

A: Given information relating to Throwback Industries, From this we have calculated the Overtime Rate…

Q: An employee earns $32 per hour and 1.5 times that rate for all hours in excess of 40 hours per week.…

A: Regular earnings = (40 hours x $32 per hour) = $1,280 Overtime earnings = (60 hours - 40 hours) x…

Q: Wage and Tax Statement Data on Efipioyel FICA Ehrlich Co. began business on January 2, 20Y8.…

A: A tax is a governmental organization's mandatory financial obligation or other form of levy enforced…

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following:…

A: Payroll tax expenses are the expenses which is related to payroll of an employee deduct by the…

Q: Compute Payroll An employee earns $22 per hour and 2 times that rate for all hours in excess of 40…

A: Gross pay is an individual's total earnings for a certain time period first before reductions are…

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following:…

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

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.