Larry Walsh is general manager of Stoneybrook Salons. During 2024, Walsh worked for the company all year at a $10,600 monthly salary. He also earned a year-end bonus equal to 15% of his annual salary, Walsh's federal income tax withheld during 2024 was $1,272 per month, plus $4,198 on his bonus check. State income tax withheld came to $100 per month, plus $40 on the bonus. FICA tax was withheld on the annual earnings Walsh authorized the following payroll deductions: Charity Fund contribution of 1% of total earnings and life insurance of $25 per month. Requirement 1. Compute Walsh's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts to the Begin by computing Walsh's gross pay for the year. (Round all amounts to the nearest dollar.) Gross pay: Gross Pay Choose from any list or enter any number in the input fields and then click Check Answer Clear An parts 5 remaining Stoneybrook incurred payroll tax expense on Walsh for FICA tax. The company also paid state unemployment tax and me tax federal unemployment tax. 5100 (Click the icon to view payroll tax rate information.) payroll Read the requirements. nounts to the nearest dollar. - 0 Requirements 1. Compute Walsh's gross pay, payroll deductions, and not pay for the full year 2024. Round all amounts to the nearest dollar. 2. Compute Stoneybrook's total 2024 payroll tax expense for Walsh 3. Make the journal entry to record Stoneybrook's expense for Walsh's total earnings for the year, his payroll deductions, and net pay. Debit Salaries Expense and Bonus Expense as appropriate. Credit liability accounts for the payroll deductions and Cash for net pay. An explanation is not required. 4. Make the journal entry to record the accrual of Stoneybrook's payroll tax expense for Walsh's total earnings. 5. Make the journal entry for the payment of the payroll withholdings and taxes Print Done Larry Walsh is general manager of Stoneybrook Salons. During 2024, Walsh worked for the company all year at a $10,600 monthly salary. He also earned a year-end bonus equal to 15% of his annual salary. Walsh's federal income tax withheld during 2024 was $1,272 per month, plus $4,198 on his bonus check. State income tax withheld came to $100 per month, plus $40 on the bonus. FICA tax was withheld on the annual earnings. Walsh authorized the following payroll deductions: Charity Fund contribution of 1% of total earnings and life insurance of $25 per month Requirement 1. Compute Walsh's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts tot Begin by computing Walsh's gross pay for the year. (Round all amounts to the nearest dollar.) Gross pay Gross Pay
