Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answer 5-4A & 5-14A please I answered most of it I just need a little help with the rest. Excel Instructions using Excel 2010: 1.

Answer 5-4A & 5-14A please I answered most of it I just need a little help with the rest. image text in transcribed

Excel Instructions using Excel 2010: 1. Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appear to the right of an incorrect answer. 2. A formula begins with an equals sign (=) and can consist of any of the following elements: Operators such as + (for addition), (for subtraction), * (for multiplication), and / (for division). Cell references, including cell addresses such as B52, as well as named cells and ranges Values and text Worksheet functions (such as SUM) 3. You can enter a formula into a cell manually (typing it in) or by pointing to the cells. To enter a formula manually, follow these steps: Move the cell pointer to the cell that you want to hold the formula. Type an equals sign (=) to signal the fact that the cell contains a formula. Type the formula, then press Enter. 4. Rounding: These templates have been formatted to round numbers to either the nearest whole number or the nearest cent. For example, 17.65 x 1.5=26.475. The template will display and hold 26.48, not 26.475. There is no need to use Excel's rounding function. EXCEPTION: Continuing Payroll Problems A & B: CHAPTER 2 When calculating overtime rate for weekly salary, round regular rate to TWO decimals BEFORE calculating overtime rate. Rounding can be accomplished by using Number function (using arrows) on Excel Home menu or by entering the formula =(Round(Weekly/40,2))*1.5 (where "Weekly" entered as either the weekly pay or cell reference.) Failure to use the ROUND function will cause the OT rate to be incorrect. 5. Remember to save your work. When saving your workbook, Excel overwrites the previous copy of your file. You can save your work at any time. You can save the file to the current name, or you may want to keep multiple versions of your work by saving each successive version under a different name. To save to the current name, you can select File, Save from the menu bar or click on the disk icon in the standard toolbar. It is recommended that you save the file to a new name that identifies the file as yours, such as Excel_End_of_Chapter_Problems_2012_Your_Name.xlsx To save under a different name, follow these steps: Select File, Save As to display the Save As Type dropbox, chose Excel Workbook (*.xlsx) Select the folder in which to store the workbook. Enter the new filename in the File name box. Click Save. Name: Chelsea Nelson Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appear to the right of an incorrect answer. 5-2A Total payroll Less: Wages paid in excess of $7,000 Earnings subject to FUTA and SUTA Net FUTA tax Net SUTA tax Total unemployment taxes Taxable Earnings $265,790 265,790 Student Work Area $737,910 472,120 $265,790 x Tax Rate 0.008 0.029 = Tax $2,126.32 7,701.91 $9,834.23 Instructor Comment/Grade Area Name: Chelsea Nelson Enter the appropriate numbers/formulas in the shaded (gray) cells. An asterisk (*) will appear to the right of an incorrect answer. 5-4A Taxable Earnings (a) SUTA taxes paid to Vermont (b) SUTA taxes paid to New Hampshire (c) SUTA taxes paid to Maine (d) FUTA taxes paid x Tax Rate = Tax Name: Chelsea Nelson Enter the appropriate numbers/formulas in the shaded (gray) cells, or select from the drop-down list. An asterisk (*) will appear to the right of an incorrect answer. 5-14A (a) Taxable Earnings M. Grady P. Monroe V. Hoffman A. Drugan G. Beiter S. Egan B. Lin (b) OASDI (4.2%) 24.32 17.88 11.16 13.64 9.92 392.31 288.46 180.00 220.00 160.00 Employer's OASDI tax Taxable Earnings $1,240.77 Employer's HI tax $1,240.77 Taxable earnings: G. Beiter B. Lin Total Taxable Earnings $180.00 160.00 $340.00 Taxable earnings: B. Lin Taxable Earnings $160.00 (c) (d) (e) Total employer payroll taxes: FICA SUTA FUTA Total payroll taxes $94.92 10.54 1.28 $106.74 x HI (1.45%) 5.69 4.18 2.61 3.19 2.32 Tax Rate 0.0620 = 0.0145 x Tax Rate $17.99 = 0.0310 x Tax Rate 0.0080 Tax $76.93 SUTA Tax $10.54 = FUTA Tax $1.28

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Financial Accounting an introduction to concepts, methods and uses

Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis

13th Edition

978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003

Students also viewed these Accounting questions

Question

What does cross- referencing mean in the posting process?

Answered: 1 week ago

Question

How do sex and gender differ?

Answered: 1 week ago