Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Amy's regular hourly wage rate is $ 8 , and she receives an hourly rate of $ 1 2 for work in excess of 4

Amy's regular hourly wage rate is $8, and she receives an hourly rate of $12 for work in excess of 40 hours. During a January pay
period, Amy works 45 hours. Amy's federal income tax withholding is $94, and she has no voluntary deductions. Use January 15 for the
end of the pay period and the payment date.
Prepare the employer's journal entries to record (a) Amy's pay for the period and (b) the payment of Amy's wages. Assume that the
FICA tax rate is 7.65%.(Round your answers to 2 decimal places, e-g.15.25. Credit account titles are automatically indented
when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter
0 for the amounts.)
No. Date Account Titles and Explanation
(a) Jan. 15
(b) Jan. 15Amy's regular hourly wage rate is $8, and she receives an hourly rate of $12 for work in excess of 40 hours. During a January pay period, Amy works 45 hours. Amy's federal income tax withholding is $94, and she has no voluntary deductions. Use January 15 for the end of the pay period and the payment date.
Prepare the employer's journal entries to record (a) Amy's pay for the period and (b) the payment of Amy's wages. Assume that the FICA tax rate is 7.65%.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A Compilation Of University Level Assignments Marketing Audit Approach

Authors: Emeka Anyaduba

1st Edition

1475098057, 978-1475098051

More Books

Students also viewed these Accounting questions

Question

1. Discuss the four components of language.

Answered: 1 week ago

Question

a. How many different groups were represented?

Answered: 1 week ago