Logan White is general manager of Valuepoint Salons. During 2024, White worked for the company all year at a $13,600 monthly salary He also earned a year-end bonus equal to 20% of his annual salary White's federal income tax withheld during 2024 was $4,352 per month plus $3,264 on his bonus check. State income tax withheld came to $110 per month, plus $100 on the bonus FICA tax was withheld on the annual earnings White authorized the following payroll deductions Charity Fund contribution of 2% of total earnings and life insurance of $5 per month Valuepoint incurred payroll tax expense on White for FICA tax. The company also paid state unemployment tax and federal unemployment tax (Click the icon to view payroll tax rate information.) Read the requirements More info For all payroll calculations, use the following tax rates and round amounts to the nearest cent Employee OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000. 2.35% on earnings above $200,000 Employer OASDI: 6.2% on first $132,900 eamed; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned: SUTA: 5.4% on first $7,000 earned Print Done ) UI 270 OT PATOLE HII dion Requirements 1. Compute White's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts to the nearest dollar 2. Compute Valuepoint's total 2024 payroll tax expense for White. 3. Make the journal entry to record Valuepoint's expense for White'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 Valuepoint's payroll tax expense for White's total earnings. 5. Make the journal entry for the payment of the payroll withholdings and taxes nd Print Done Requirement 1. Compute White's gross pay, payroll deductions, and net pay for the full year 2024. Round all amounts to the nearest dollar Begin by computing White's gross pay for the year. (Round all amounts to the nearest dollar) Gross pay Gross Pay Now compute White's payroll deductions and net pay for the year. (Round all amounts to the nearest dollar) Net pay Withholding deductions Requirement 2. Compute Valuepoint's total 2024 payroll tax expense for White. (Round all amounts to the nearest dollar) Employer Payroll Taxes: Total Employer Payroll Tax Total Payroll Expense ) Vaa Caa Maari latest ) Gede Himent. Make the many record the world points de borg Recente del Ace Dubai C ents. Mothermally for the detected Mens Doba C De
