Lee Wernet is general manager of National Sons. During 2011, Wome worked for the company 512.900 monthly salary Healne same year end bonnet olsalary. We federal income tax wilheld during 2010 was 51.935 per month, plus 51 161 on his bon check income tax withheld came to $160 per month plus so on the bonus FICA tas was with one canings Werner whoed the following payroll educo Charly Fundation of warnings and trance of $10 per month Naranai WFICA The company who parte employment tax and federate Click the contacto Requirement 1. Compute Werner's yon pay periodoductions and not pay for the year 2018 Round al amount to the rest of Begin by cohting Www pay for the year and the deskt) Gross pay Gross Pay Now compute Wome's payroll deductions and not pay for the year Roundtaments to the needle Requirements During bony perm 80 on ductiot emer for FICA tax. The comp ent tax Information) 1. Compute Werner's gross pay, payroll deductions, and net pay for the full year 2018. Round all amounts to the nearest dollar 2. Compute National's total 2018 payroll tax expense for Werner. 3. Make the journal entry to record National's expense for Werner'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 National's payroll tax expense for Werner's total earnings 5. Make the journal entry for the payment of the payroll withholdings and taxes all dedil (Rour Print Done eme - - Xentt alons. During ear-end bony -1,935 per m plus 580 on Foll deductio More info Infor 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: 145% on all earnings FUTA 0.6% on first $7,000 earned SUTA 5.4% on first $7,000 earned payroll dedi year. (Roul Print Done earnings and life insurance of $10 per month hanty Fund contribution of 3% of total Read the requirements Gross Pay Now compute Werner's payroll deductions and net pay for the year. (Round all amounts to the nearest dollar) Net pay Withholding deductions per me (Click the icon to view payr Plus S1,1b1 on ns bonus check. State income tax withheld came to $160 per month, plus $80 on the bonus FICA tax was withheld on the annual earnings. Werner authorized the following payroll deductions Charity Fund contribution of 3% of total earnings and life insurance of $10 per month Read the requirements GEL zo PI Net (take-home) pay Requirement 2. Compute National's total 2018 payroll tax expense for Werner (Round all amounts to the nearest dollar) a $12,900 monthly salary He also earned a year-end bonus equal to 5% of his annual salary Womer's federal income tax withheld during 2018 was $1,935 per month, plus 51,161 on his bonus check State income tax withheld came to $160 per month, plus $80 on the bonus FICA tax was withheld on the annual eamings. Werner authorized the following payroll deductions Charity Fund contribution of 3% of total earnings and life insurance of $10 per month Nured payroll tax expense on W unemployment tax and federal unemployme (Click the icon to view payroll tax rater Read the requirements Requirement 2. Compute National's total 2018 payroll tax expense for Womer (Round all amounts to the nearest dollar) Employer Payroll Taxes: Total Employer Payroll Tax Totally wyroll to Requement. Maejuary to record Nationale pente for Welcaring for the year his pareductions, and ob Sponses apple Crude Bality accounts for the productions and Case for atay Ann is not required record thanh toplinom ml) Dale Acco Det Credit Requitement 4. Make the journal entry to record the accrual of National pay tax expensest Wester's total aming Record delas fiesta cred ca explanation from Joomla Date Accounts Credit MA Requirement 4. Make the journal entry to record the accruat et National partotec for Womer's total aming Record dies first, then trede. Exclude plantes son joume) Accounts Credit Date De Regulaments. Make the journal entry for the payment of the part withholdings and Records to me Requirement 5. Make the journal entry for the payment of the payroll withholdings and taxes (Record debit firstthen credits Exclude explanations from mal entries) Date Accounts Debit Credit Sdiary verners federal income tax withheld during 2018 was $1,935 per month plus $1,161 on his bonus check. State income tax withheld came to $160 per month, plus $80 on the bonus. FICA tax was withheld on the annual earnings. Werner authorized the following payroll deductions: Charity Fund contribution of 3% of total earnings and life insurance of $10 per month Co PI
