Abreu Company allows employees the option of carrying over unused vacation days or "cashing" them out. If they cash out, does the employer count the time or earnings when calculating overtime for these nonexempt employees?
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Abreu Company allows employees the option of carrying over unused vacation days or "cashing" them out. If they cash out, does the employer count the time or earnings when calculating overtime for these nonexempt employees?
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- The following form is used by Matsuto Manufacturing Co. to compute payroll taxes incurred during April: Required: 1. Using the above form, calculate the employers payroll taxes for April. Assume that none of the employees has achieved the maximums for FICA and unemployment taxes. 2. Assuming that the employer payroll taxes on factory wages are treated as factory overhead, the taxes covering administrative salaries are an administrative expense, and the taxes covering sales salaries are a selling expense, prepare a general journal entry to record the employer's liability for the April payroll taxes.Adams, Inc., pays its employees weekly wages in cash. A supplementary payroll sheet that lists the employees names and their earnings for a certain week is shown below. Complete the payroll sheet by calculating the total amount of payroll and indicating the least possible number of denominations that can be used in paying each employee. However, no employees are to be given bills in denominations greater than 20.Between the end of one month and the 15th day of the next month, the balance in the employers business bank account has been getting smaller and smaller. An employee prepares the next payroll and correctly computes the necessary withholding taxes. The employer is supposed to pay accumulated employment taxes on the 15th of the next month. Payday is the last day of the month. However, the employer has used the funds withheld from employees to pay some of the businesss bills. He hopes that enough of the customers who owe him money will pay their outstanding debts. If his assumption is true, the checking account will have enough in it to pay the federal deposit on the 15th of the month. Is the employer acting ethically? After all, he says he intends to have enough money in the account for the deposit. Explain your answer.
- Employees at Abreu Company have the option of carrying over or "cashing" in unused vacation days. Does the employer include the time or earnings when computing overtime for these nonexempt workers if they cash out?The employees are entitled to 10 days holiday leave per calendar year. Unused holiday leave may be carried forward until the employee leaves the employment of the entity, at which time the entity will pay the employee for all unused holiday leave. The holiday leave is. a termination benefit a postemployment benefit a short-term employee benefit other long-term employee benefitHow would I calculate holiday, regular and overtime for an exempt employee? EX: Chinson worked 88 hours, is exempt and is paid semi-monthly. He has 16 holiday hours. He earns 48,000 a year with commission (this commission is 2,325.00) For the pay period of 11/16 to 11/30 what would his regular and overtime hours be in the payroll register along with holiday pay? Gross earnings?
- GHI Company compensates its employees for certain absences for vacation and sickness. Employees are entitled to one day vacation plus one day sick leave for each month worked during the year. Unused vacation days may be carried forward, but unused sick leave does not accumulate. Employees are compensated according to their pay in effect at the time of the leave. The following data were taken from the records for the year 2021. Employee Date of initial employment Unused vacation 1/1/2021 Vacation taken in 2021 Sick leave taken in 2021 Rate per day Rj 1/10/2019 18 8 5 1,000 Pinky 7/28/2020 5 4 10 800 Janus 9/1/2021 0 2 6 600 Noli 8/1/2021 0 3 5 400 Required:1. Compute the balance of the account Liability for CompensatedAbsencesat December 31, 2020.2. Compute the amount of Employee benefit expense for sick leave and vacation leave forthe year 2021.3. Compute the balance of liability for compensatedabsences at December 31, 2021.4. Prepare the entry to recordthe 2021…GHI Company compensates its employees for certain absences for vacation and sickness. Employees are entitled to one day vacation plus one day sick leave for each month worked during the year. Unused vacation days may be carried forward, but unused sick leave does not accumulate. Employees are compensated according to their pay in effect at the time of the leave. The following data were taken from the records for the year 2021. Employee Date of initial employment Unused vacation 1/1/2021 Vacation taken in 2021 Sick leave taken in 2021 Rate per day Rj 1/10/2019 18 8 5 1,000 Pinky 7/28/2020 5 4 10 800 Janus 9/1/2021 0 2 6 600 Noli 8/1/2021 0 3 5 400 Compute the balance of liability for compensated absences at December 31, 2021.GHI Company compensates its employees for certain absences for vacation and sickness. Employees are entitled to one day vacation plus one day sick leave for each month worked during the year. Unused vacation days may be carried forward, but unused sick leave does not accumulate. Employees are compensated according to their pay in effect at the time of the leave. The following data were taken from the records for the year 2021. Employee Date of initial employment Unused vacation 1/1/2021 Vacation taken in 2021 Sick leave taken in 2021 Rate per day Rj 1/10/2019 18 8 5 1,000 Pinky 7/28/2020 5 4 10 800 Janus 9/1/2021 0 2 6 600 Noli 8/1/2021 0 3 5 400 Compute the amount of Employee benefit expense for sick leave and vacation leave forthe year 2021.
- GHI Company compensates its employees for certain absences for vacation and sickness. Employees are entitled to one day vacation plus one day sick leave for each month worked during the year. Unused vacation days may be carried forward, but unused sick leave does not accumulate. Employees are compensated according to their pay in effect at the time of the leave. The following data were taken from the records for the year 2021. Employee Date of initial employment Unused vacation 1/1/2021 Vacation taken in 2021 Sick leave taken in 2021 Rate per day Rj 1/10/2019 18 8 5 1,000 Pinky 7/28/2020 5 4 10 800 Janus 9/1/2021 0 2 6 600 Noli 8/1/2021 0 3 5 400 Prepare the entry to record the 2021 transactions.In the case where an employer is delinquent in paying contributions to the state for SUTA: a. experience ratings may be decreased. b. their employees may not be eligible to collect unemployment benefits. c. the employer may be required to contribute monthly rather than quarterly. d. a 100% penalty may be imposed.Margaret’s regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay period, Margaret works 49 hours. Margaret’s federal income tax withholding is $97, and she has no voluntary deductions.Prepare the employer’s journal entry to record payroll taxes for the period. Ignore unemployment taxes.
