Question
Jordan Hubert works for ABC all year and earns a monlty salary of $12,800. Thre is no overtime pay. Jordans income tax withholding rate is
Jordan Hubert works for ABC all year and earns a monlty salary of $12,800. Thre is no overtime pay. Jordans income tax withholding rate is 10% of gross pay. In addition to payroll taxes, Jordan elects to contribute 1% monthly to united way. ABC also deducts $175 montly for co-payment of the health insurance premium. As of september 30 , Jordan had 115,200 of cumulative earnings
For all payroll calculations, use the following tax rates and round amounts to the nearest cent
Employee; OASDI 6.2% on first 118,500 ; medicare 1.45% up to $200,000 , 2.35% on earnings above $200,000
Employee; 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 all first 7,000 earned
requirment 1 . Compute jordans net pay for october
requirment 2 journalize the accrual of salaries expenese and the payment related to the employment of jordan hubert... begin with the entry to accure salaries expensive and payroll withholdings for jordan
now record the entry to record the payment wages to jordan hubert
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