PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN: 9781337619783
Author: BIEG
Publisher: CENGAGE L
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Question
Chapter 5, Problem 4QD
a.
To determine
State the benefits received on shared-work compensation program by the (1) Employer and (2) Employee.
b.
To determine
State the disadvantages noticed in the operations of a shared –work compensation, especially from the organized labor view point.
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In an effort to keep low-wage workers' salaries commensurate with the cost of living, a number of states have amended their constitutions to allow the minimum wage to be adjusted with inflation.
You are the accountant for a company that owns a chain of 12 fast food restaurants in a state which adjusts the minimum wage for inflation. Each restaurant employs 25 workers, each averaging 20 hours per week at the current federal minimum wage, $7.25 per hour.
(a)
How many hours at minimum wage are paid out each week by the company?
(b)
At the current rate of $7.25 per hour, what is the amount (in $) of the weekly "minimum wage" portion of the restaurant's payroll?
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If the inflation rate this year is 0.7%, calculate the "adjusted" minimum wage rate (in $ per hour) to be paid next year. (Round your answer to two decimal places.)
(d)
How much in "additional wages" will the company have to pay out next year at the adjusted rate (in $)? (Round your answer to the nearest dollar.)
Applebaum Security Company is located in State H, which enables employers to reduce their contribution rates underthe experience-rating system. From 2005 to 2014, inclusive, the company’s total contributions to state unemployment compensation amounted to $18,135. For the calendar years 2015 to 2018, inclusive, the contribution rate for Applebaum was 3.7%.
The contributions of each employer are credited to an account maintained by the State UnemploymentCompensation Commission. This account is credited with contributions paid into the account by the employer and ischarged with unemployment benefits that are paid from the account. Starting January 1, 2019, the contributions ratefor all employers in State H will be based on the following tax rate schedule:Reserve Ratio Contribution RateContributions falling below benefits paid....................... 7.0%0.0% to 7.9%................................................................ 5.5%8.0%…
Chapter 5 Solutions
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Ch. 5 - Prob. 1SSQCh. 5 - Prob. 2SSQCh. 5 - Prob. 3SSQCh. 5 - _____ 1. Reciprocal arrangements A. Extra state...Ch. 5 - What two alternative tests are applied to a...Ch. 5 - What condition would make a household employer a...Ch. 5 - Prob. 3QRCh. 5 - Prob. 4QRCh. 5 - Prob. 5QRCh. 5 - Prob. 6QR
Ch. 5 - Prob. 7QRCh. 5 - An employer, because of a favorable experience...Ch. 5 - Prob. 9QRCh. 5 - Prob. 10QRCh. 5 - Prob. 11QRCh. 5 - Prob. 12QRCh. 5 - Prob. 13QRCh. 5 - Prob. 14QRCh. 5 - Prob. 15QRCh. 5 - Prob. 16QRCh. 5 - Prob. 17QRCh. 5 - Prob. 18QRCh. 5 - Prob. 19QRCh. 5 - Prob. 20QRCh. 5 - Can the owner of a small business receive...Ch. 5 - Prob. 2QDCh. 5 - Prob. 4QDCh. 5 - Prob. 1PACh. 5 - Peyton Companys payroll for the year is 737,910....Ch. 5 - Prob. 3PACh. 5 - Prob. 4PACh. 5 - Prob. 5PACh. 5 - Prob. 6PACh. 5 - Prob. 7PACh. 5 - Prob. 8PACh. 5 - Prob. 9PACh. 5 - Prob. 10PACh. 5 - Prob. 11PACh. 5 - Prob. 12PACh. 5 - Prob. 13PACh. 5 - Prob. 14PACh. 5 - Prob. 15PACh. 5 - Prob. 16PACh. 5 - Prob. 17PACh. 5 - Prob. 1PBCh. 5 - Prob. 2PBCh. 5 - Prob. 3PBCh. 5 - Prob. 4PBCh. 5 - Prob. 5PBCh. 5 - Prob. 6PBCh. 5 - Prob. 7PBCh. 5 - During 2019, Jake Gore worked for two different...Ch. 5 - Prob. 9PBCh. 5 - Prob. 10PBCh. 5 - Prob. 11PBCh. 5 - Prob. 12PBCh. 5 - Prob. 13PBCh. 5 - Prob. 14PBCh. 5 - Prob. 15PBCh. 5 - Prob. 16PBCh. 5 - Prob. 17PBCh. 5 - Prob. 1CP
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