Instructions Gross Pay, Deductions, and Net Pay Donald Chin works for Northwest Supplies. His rate of pay is $8.50 per hour, and he is paid 1 times the regular rate for all hours worked in excess of 40 per week. During the last week of January of the current year, he worked 48 hours. Chin is married and daims three withholding allowances on his W-4 form. His weekly wages are subject to the following deductions: a. Employee federal income tax (Tax Gross Pay, Deductions and Net Pay b. Social Security tax at 6.2% 1. Compute Chin's regular pay, overtime pay, gross pay, and net pay. If required, round your answers to the nearest c. Medicare tax at 1.45% d. Health Insurance premium, $85.00 Regular pay $385.001: e. Credit union, $125.00 f. United Way contribution, $10.00 Overtime pay $ 102.00 Required: Gross pay $ 442.00 1. Compute Chin's regular pay, overt Net pay $ 180.19 X General Journal Page: 1 DATE ACCOUNT TITLE 1 20. Jan. 31 Wages and salaries expense DOC. POST NO. REF. DEBIT CREDIT 442.00 Employee federal income tax payable Social Security tax payable Medicare tax payable Health insurance premiums payable 27.40 3 85.00 000 & an . w . Credit union payable 125.00 United Way contributions payable 10.00 Cash 180.15 Payroll for week ended January 31 Instructions Gross Pay, Deductions, and Net Pay Donald Chin works for Northwest Supplies. His rate of pay is $8.50 per hour, and he is paid 1 times the regular rate for all hours worked in excess of 40 per week. During the last week of January of the current year, he worked 48 hours. Chin is married and daims three withholding allowances on his W-4 form. His weekly wages are subject to the following deductions: a. Employee federal income tax (Tax Gross Pay, Deductions and Net Pay b. Social Security tax at 6.2% 1. Compute Chin's regular pay, overtime pay, gross pay, and net pay. If required, round your answers to the nearest c. Medicare tax at 1.45% d. Health Insurance premium, $85.00 Regular pay $385.001: e. Credit union, $125.00 f. United Way contribution, $10.00 Overtime pay $ 102.00 Required: Gross pay $ 442.00 1. Compute Chin's regular pay, overt Net pay $ 180.19 X General Journal Page: 1 DATE ACCOUNT TITLE 1 20. Jan. 31 Wages and salaries expense DOC. POST NO. REF. DEBIT CREDIT 442.00 Employee federal income tax payable Social Security tax payable Medicare tax payable Health insurance premiums payable 27.40 3 85.00 000 & an . w . Credit union payable 125.00 United Way contributions payable 10.00 Cash 180.15 Payroll for week ended January 31
