Following are some transactions and events of Business Solutions. Feb. 26 The company paid cash to Lyn Addie for eight days' work at $140 per day. Mar. 25 The company sold merchandise with a $2,100 cost for $3,000 on credit to Wildcat Services, invoice dated March 25. Required: 1. Assume that Lyn Addie is an unmarried employee. Her $1,120 of wages have deductions for FICA Social Security taxes, FICA Medicare taxes, and federal income taxes. Her federal income taxes for this pay period total $112. Compute her net pay for the eight days' work paid on February 26. (Round your answer to 2 decimal places. Do not round intermediate calculations.) 2. Record the journal entry to reflect the payroll payment to Lyn Addie as computed in part 1. (Round your answers to 2 decimal places. Do not round intermediate calculations.) 3. Record the journal entry to reflect the employer) payroll tax expenses for the February 26 payroll payment. Assume Lyn Addie has not met earnings limits for FUTA and SUTA (the FUTA rate is 0.6% and the SUTA rate is 5.4% for the company. (Round your answers to 2 decimal places. Do not round intermediate calculations.) 4. Record the entries for the merchandise sold on March 25 if a 4% sales tax rate applies. (Round your answers to the nearest whole dollar) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Assume that Lyn Addie is an unmarried employee. Her $1,120 of wages have deductions for FICA Social Security taxes, FICA Medicare taxes, and federal income taxes. Her federal income taxes for this pay period total $112. Compute her net pay for the eight days' work paid on February 26. Net pay (Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required Record the journal entry to reflect the payroll payment to Lyn Addie as computed in part 1. Vww transaction to Journal entry worksheet Record the payroll expenses and abilities for the days' work paid on February 26. Nutenter debts before credits Date Feb 26 General Journal Det Credit Record entry View general jou Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required Record the journal entry to reflect the employer) payroll tax expenses for the February 26 payroll payment. Assume Lyn Addie has not met earnings limits for FUTA and SUTA (the FUTA rate is 0.8% and the SUTA rate is 5.4% for the company View transaction fil Journal entry worksheet Record the employer's payroll expenses and tables for the day work paid on February 26. Notenter debits before credits General Journal Det Credit Date Feb. 26 Record entry View general Journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required Record the entries for the merchandise sold on March 25 if a 4% sales tax rate applies. www transaction lit Journal entry worksheet 2 > Record the sales revenue of $3,000 on account to Wildcat Services together with 4% sales tax on every dollar of merchandise sold Notenter debts before credits Date Mar 25 General Journal Debit Credit Record entry Clear entry View general journal
