Herbert Smith manages a Dairy King drive-in. His straight-time pay is $ 19 per hour, with time-and-a-half for hours in excess of 40 per week. Smith's payroll deductions include withheld income tax of 40%, FICA tax, and a weekly deduction of $ 7 for a charitable contribution to United Way. Smith worked 57 hours during the week.

Herbert Smith manages a Dairy King drive-in. His straight-time pay is 519 per hour, with time-and-a-half for hours in excess of 40 per week. Smith's payroll deductions include withheld income tax of 40%, FICA tax, and a weekly deduction of $7 for a charitable contribution to United Way. Smith worked 57 hours during the week. (Click the icon to view payroll tax rate information.) Read the recuirements Requirement 1. Compute Smith's gross pay and not pay for the week. Assume earnings to date are $8,000 Round all amounts to the nearest cant) Begin by computing Smith's gross pay for the week More Info Gross Pay Compute Smith's net pay for the week. (Round all amounts to the nearest cent. For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee OASDI: 6.2% on first $118.500 eamed, 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 eamings: FUTA: 0.5% on first $7,000 eamed: SUTA: 5.4% on first $7,000 earned Withholding deductions Print Done Net (take home) pay Requirement 2. Journalize Dairy King's wages expense accrual for Smith's work. An explanation is not required. (Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit Requirement 3. Joumalize the subsequent payment of wages to Smith. (Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit