lan McCarthy works for Willow Tree Homes. His rate of pay is $16.00 per hour and he is paid 1 1/2 times the regular rate for all hours worked in excess of 40 per week During the last week of March of the current year he worked 45 hours. Ian is single and claims 2 withholding allowances on his W-4 form. His weekly wages are subject to the following deductions: Employee (Federal) income tax (use withholding table provided in text). Social Security tax at 6.2 % . Medicare tax at 1.45 %. Health insurance premium, $60. Credit union deposit, $140. United Way contribution, $15. a. b. C. d. e f Required: 1. Compute McCarthy's regular, overtime, gross, and net pay. If required, round your answers to the nearest cent Regular pay Overtime pay Gross pay Net pay 2. Journalize the payment of his wages for the week ended March 26, crediting Cash for the net amount. When required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Page: 1 POST DATE DESCRIPTION CREDIT DEBIT REF 1 Mar. 26 2 2 Previous Next 2. Journalize the payment of his wages for the week ended March 26, crediting Cash for the net amount. When required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Page: 1 POST REF DATE DESCRIPTION DEBIT CREDIT 1 Mar. 26 2 2 3 3 4 5 6 Next Previous lan McCarthy works for Willow Tree Homes. His rate of pay is $16.00 per hour and he is paid 1 1/2 times the regular rate for all hours worked in excess of 40 per week During the last week of March of the current year he worked 45 hours. Ian is single and claims 2 withholding allowances on his W-4 form. His weekly wages are subject to the following deductions: Employee (Federal) income tax (use withholding table provided in text). Social Security tax at 6.2 % . Medicare tax at 1.45 %. Health insurance premium, $60. Credit union deposit, $140. United Way contribution, $15. a. b. C. d. e f Required: 1. Compute McCarthy's regular, overtime, gross, and net pay. If required, round your answers to the nearest cent Regular pay Overtime pay Gross pay Net pay 2. Journalize the payment of his wages for the week ended March 26, crediting Cash for the net amount. When required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Page: 1 POST DATE DESCRIPTION CREDIT DEBIT REF 1 Mar. 26 2 2 Previous Next 2. Journalize the payment of his wages for the week ended March 26, crediting Cash for the net amount. When required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Page: 1 POST REF DATE DESCRIPTION DEBIT CREDIT 1 Mar. 26 2 2 3 3 4 5 6 Next Previous