Herbert Stanton manages a Dairy King drive-in. His straight-time pay is $15 per hour, with time-and-a-half for hours in excess of 40 per week. Stanton's payroll deductions include withheld income tax of 30%, FICA tax, and a weekly deduction of $7 for a charitable contribution to United Way. Stanton worked 57 hours during the week. (Click the icon to view payroll tax rate information.) Read the requirements. Requirement 1. Compute Stanton's gross pay and net pay for the week. Assume earnings to date are $9,000. (Round all amounts to the nearest cent.) Begin by computing Stanton's gross pay for the week. i More Info i Requirements For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Gross Pay Employee: Compute Stanton's net pay for the week. (Round all amounts to the nearest cent.) 1. Compute Stanton's gross pay and net pay for the week. Assume earnings to date are $9,000. 2. Journalize Dairy King's wages expense accrual for Stanton's work. An explanation is not required. 3. Journalize the subsequent payment of wages to Stanton. Employer: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% on all earnings; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Withholding deductions: Print Done Print Done Net (take-home) pay Requirement 2. Journalize Dairy King's wages expense accrual for Stanton's work. An explanation is not required. (Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit Requirement 3. Journalize the subsequent payment of wages to Stanton. (Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. Herbert Stanton manages a Dairy King drive-in. His straight-time pay is $15 per hour, with time-and-a-half for hours in excess of 40 per week. Stanton's payroll deductions include withheld income tax of 30%, FICA tax, and a weekly deduction of $7 for a charitable contribution to United Way. Stanton worked 57 hours during the week. (Click the icon to view payroll tax rate information.) Read the requirements. Requirement 1. Compute Stanton's gross pay and net pay for the week. Assume earnings to date are $9,000. (Round all amounts to the nearest cent.) Begin by computing Stanton's gross pay for the week. i More Info i Requirements For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Gross Pay Employee: Compute Stanton's net pay for the week. (Round all amounts to the nearest cent.) 1. Compute Stanton's gross pay and net pay for the week. Assume earnings to date are $9,000. 2. Journalize Dairy King's wages expense accrual for Stanton's work. An explanation is not required. 3. Journalize the subsequent payment of wages to Stanton. Employer: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% on all earnings; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Withholding deductions: Print Done Print Done Net (take-home) pay Requirement 2. Journalize Dairy King's wages expense accrual for Stanton's work. An explanation is not required. (Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit Requirement 3. Journalize the subsequent payment of wages to Stanton. (Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next
