Accounting:

Gloria Lindsay works at College of Seattle and is paid $40 per hour for a 40-hour workweek and time-and-a-half for hours above 40.

(A) Compute Lindsay's gross pay for working

56 hours during the first week of February.

(B) Lindsay is single, and her income tax withholding is

20% of total pay. Lindsay's only payroll deductions are payroll taxes. Compute Lindsay 's net (take-home) pay for the week. Assume Lindsay's earnings to date are less than the OASDI limit.

(C) Journalize the accrual of wages expense and the payments related to the employment of Gloria Lindsay.

X More info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee OASDI 6.2% on first $118.500 earned; Medicare: 1.45% up to $200,000 2.35% on earnings above $200 000 Employer OASDI: 6.2% on first $118.500 earned, Medicare: 1.45% on all earnings, FUTA: 0.6% on first $7,000 earned. SUTA: 5.49 on first $7,000 earned Print Done Gloria Lindsay works at College of Seattle and is paid $40 per hour for a 40-hour workweek and time-and-a-half for hours above (Click the icon to view payroll tax rate information) Read the requirements Requirement 1. Compute Lindsay's gross pay for working 56 hours during the first week of February Straight-time pay for 40 hours $1,600 Overtime pay for 16 hours S Gross Pay Requirement 2. Lindsay is single, and her income tax withholding is 20% of total pay Lindsay's only payroll deductions are payri Gross pay Withholding deductions: Employee income tax S Employee OASDI tax Employee Medicare tax Total Withholdings Net (take home) pay Requirement 3. Joumalize the accrual of wages expense and the payments related to the employment of Gloria Undsay Record Begin with the entry to accrue wages expense and payroll withholdings for Gloria Lindsay. (Round all amounts to the nearest cent Date Accounts and Explanation Debit Credit Wages Expense Employee Income Taxes Payable FICA-OASDI Taxes Payable FICA-Medicare Taxes Payable Wages Payable To record wages expense and payroll withholdings Now record the entry to record the payment of wages to Gloria Lindsay. (Round all amounts to the nearest cent) Date Accounts and Explanation Debit Credit Wages Payable Cash To record payment of wages