Question
bravo zulu is an employee of alpha company. alpha company pays employees the Friday after the wages are earned. Overtime in excess of 40 hours
bravo zulu is an employee of alpha company. alpha company pays employees the Friday after the wages are earned. Overtime in excess of 40 hours must be paid at %150 of the normal hourly rate. Social security taxes for this problem are 6% and medicare taxes are 1.5%. THE FEDERAL UNEMPLOYMENT TAX RATE IS 1.2% and the state unemployment tax rate is 4.5%. Bravo's wages, including the current pay period, will not exceed the limits for social security, medicare and unemployment taxes. Bravo earns $15 per hour and worked 51 hours for the week ended January 26, 2018. Alpha will withhold $210 federal income taxes. Use this information to prepare the general journal entries (compound entries where needed and without explanation) to accrue Alphas:
a. payroll expense for bravo zule
b. payroll tax liabilities for January 26,2018 for bravo zulu
round all calculated values to the nearest penny and prepare journal entries with penny values recorded.
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