PAYROLL ACCT.,2019 ED.(LL)-TEXT
PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN: 9781337619783
Author: BIEG
Publisher: CENGAGE L
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Chapter 4, Problem 4QD
To determine

State the effect of the idea and discuss the manner by which the information must be rendered to Person R.

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Can I do a general journal entry on this scenario, if so how do i do it? Master Flow’s first employee, Emma Stone starts at the Company. She will be responsible for Warehouse Management. She will be paid $20 / Hour. Emma works 30 Hours / Pay Period (every two weeks). The pay period ends on 12-31-20. Emma’s Federal Tax Withholding is $50, based on her W4, and all other standard payroll taxes apply at their appropriate rates. She does not receive benefits and does not have any contributions of any type withheld from her pay.
Lister Company currently gives its employees their pay at the end of each week. Lister’s weekly payroll totals $500,000. If Lister extends the pay period so as to pay its employees one week later throughout an entire year, the employees would in effect be "lending" the firm how much for the year?
Frances Newberry is the payroll accountant for Pack-It Services of Jackson, Arizona. The employees of Pack-It Services are paid semimonthly. An employee, Glen Riley, comes to her on November 6 and requests a pay advance of $1,650, which he will pay back in equal parts on the November 15 and December 15 paychecks. Glen is married with eight withholding allowances and is paid $58,640 per year. He contributes 3 percent of his pay to a 401(k) and has $25 per paycheck deducted for a Section 125 plan. Compute his net pay on his November 15 paycheck. The applicable state income tax rate is 2.88 percent. Use the Wage Bracket Method Tables for Income Tax Withholding in Appendix C. (Round your intermediate calculations and final answer to 2 decimal places.)
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