Mann Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours
Question:
Abel and Hager are married. They claim 0 and 4 withholding allowances, respectively. The following tax rates are applicable: FICA 7.65%, state income taxes 3%, state unemployment taxes 5.4%, and federal unemployment 0.8%.
Instructions
(a) Prepare a payroll register for the weekly payroll. (Use the wage-bracket withholding table in the text for federal income tax withholdings.)
(b) Journalize the payroll on March 15, 2014, and the accrual of employer payroll taxes.
(c) Journalize the payment of the payroll on March 16, 2014.
(d) Journalize the deposit in a Federal Reserve bank on March 31, 2014, of the FICA and federal income taxes payable to thegovernment.
Federal Income Tax Withholdings Hourly Rate $15.00 16.00 13.00 13.00 United Fund Employee Ben Abcl Rita Hager Jack Never Sue Perez Hours Worked 40 42 %5.00 5.00 8.00 5.00 60 61 46
Step by Step Answer:
a MANN HARDWARE Payroll Register For the Week Ending March 15 2014 Earnings Deductions Employee Hour...View the full answer
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
Students also viewed these Accounting questions
-
A Del Hardware has four employees who are paid on an hourly basis plus time-and-a half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15, 2010, are presentd below....
-
Sure Value Hardware has four employees who are paid on an hourly basis, plus time and a half for hours worked in excess of 40 hours a week. Payroll data for the week ended March 14, 2014, follow:...
-
Scoot Scooters has four employees who are paid on an hourly basis, plus time and a half for hours in excess of 40 hours a week. Payroll data for the week ended February 17, 2012, follow: Instructions...
-
1) A survey of 200 public universities indicated that the 25th percentile of the yearly tuition cost of the universities was $4600 and the 75th percentile was $7100. The minimum value was $2000, the...
-
When measured with a F - ion-selective electrode with a Nernstian response at 25C, the potential due to F - in unfluoridated groundwater in Foxboro, Massachusetts, was 40.0 mV more positive than the...
-
Why is an employees intentional tort usually outside the scope of employment? a. It is done to further the employees own interests. b. It is done to further the employers interests. c. It is often...
-
What is the purpose of the owners' equity statement?
-
Recall the TJ Inc.'s problem (Chapter 2, Problem 28). Letting W = jars of Western Foods Salsa M = jars of Mexico City Salsa Leads to the formulation: Max 1W + 1.25M s.t. 5W + 7M ¤ 4480 Whole...
-
An oil-drilling company must choose between two mutually exclusive extraction projects, and each requires an initial outlay at t = 0 of $11 million. Under Plan A, all the oil would be extracted in 1...
-
A total of 7000 stampings must be produced in the press department during the next three days. Manually operated presses will be used to complete the job and the cycle time is 27 sec. Each press must...
-
The following are selected transactions of Blanco Company. Blanco prepares financial statements quarterly. Jan. 2 Purchased merchandise on account from Nunez Company, $30,000, terms 2/10, n/30....
-
The following payroll liability accounts are included in the ledger of Harmon Company on January 1, 2014. FICA Taxes Payable ............... $ 760.00 Federal Income Taxes Payable ........... 1,204.60...
-
Open the VB2015\Chap10\Sales Solution\Sales Solution (Sales Solution.sln) file. The frmMain_Load procedure should read the five sales amounts contained in the sales.txt file, storing the amounts in a...
-
Prior to beginning work on this discussion, please read about the Economic Value Added (EVA) and the Balanced Scorecard management systems on the websites of theCorporate Finance Institute (CFI) and...
-
1/ True, False or Uncertain? Justify your response to the following statements. a) Consider the new residential development in north Toronto. A 1300 sq. ft. house was recently sold for $600,000. The...
-
The total sales of a company is $ 1 , 0 0 0 K . The company aims to increase its profit by 2 5 % . There are two ways to increase profit by 2 5 % , either by purchasing the raw materials at a lower...
-
do in python. def kNN_quick (k, X_train, Y_train,x_test) return y_pred. Problem 2: Fast k-NN in 1D. In Problem 1, even if we use quickselect, we need to do a whole pass over the training dataset for...
-
What is the effect on the three statements when a company issues 1 0 0 shares for $ 5 0 each?
-
Prepare a sales ledger control account from the following information: 2012 March 1 Debit balances Totals for March: Sales day book Cash and cheques received from debtors Discounts allowed Debit...
-
Ann hires a nanny to watch her two children while she works at a local hospital. She pays the 19 year-old nanny $125 per week for 48 weeks during the current year. a. What is the employers portion of...
-
EHV lines often have more than one conductor per phase; these conductors are called a
-
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (8 pounds at $2.50 per pound) ........ $20 Direct labor (3...
-
During March 2017, Toby Tool & Die Company worked on four jobs. A review of direct labor costs reveals the following summary data. Analysis reveals that Job A257 was a repeat job. Job A258 was a rush...
-
Ceelo Company purchased (at a cost of $10,200) and used 2,400 pounds of materials during May. Ceelos standard cost of materials per unit produced is based on 2 pounds per unit at a cost $5 per pound....
-
Investors are evaluating two 6-year bonds at time t in an emerging financial crisis setting where there is a strong likelihood of default. Assume the following values for the expected probability of...
-
Look at a company that is failing or experiencing challenges in the area of financial performance. Select and research a company that is having financial difficulties or is on the brink of...
-
Real estate companies transfer a large portion of the landlord's risk to the tenant in exchange for a reduced rental rate or operations cost rate. Describe how (what form of contract) a landlord...
Study smarter with the SolutionInn App