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I cant seem to get the calculations right 10 of 25 (15 complete) HW Score: 40.27%, 27.79 of 69 pts Score: 0 of 3 pts
I cant seem to get the calculations right
10 of 25 (15 complete) HW Score: 40.27%, 27.79 of 69 pts Score: 0 of 3 pts XT111-2 (similar to) Question Help 3. Jackson Hughes works for Henderson Company all year and eams a monthly salary of $3,000. There is no overtime pay. Based on Jackson's W-4, Henderson withholds income taxes at 20% of his gross pay. As of July 31, Jackson had $21,000 of cumulative earnings. i (Click the icon to view payroll tax rate information.) Journalize the accrual of salary expense for Henderson Company related to the employment of Jackson Hughes for the month of August. (Record debits first, then credits. Round all amounts to the nearest cent. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Salaries Expense Employee Income Taxes Payable FICA-OASDI Taxes Payable FICA-Medicare Taxes Payable Salaries Payable A More Info - X To record salaries expense and payroll withholdings For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $118,500 earned: 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%, FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All CheckStep by Step Solution
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