Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Module 5 Assignment Part 3 Smee and CO (EIN 35-4444444) has 3 employees during the 4th quarter. Everyone is paid weekly. Katia earns $24/hour and

Module 5 Assignment Part 3 Smee and CO (EIN 35-4444444) has 3 employees during the 4th quarter. Everyone is paid weekly. Katia earns $24/hour and David earns $31/hour. They work 40 hours per week for 13 weeks in the quarter (assume Dec. has the 5th week). Jeremy is salaried and will have a gross pay of $3,410 this pay period. Each employee has worked the entire year with no changes in pay or payroll deductions. The following federal withholdings are deducted each pay. Assume no state or county withholdings for this part of the problem. Katia $ 70 David $ 105 Jeremey $ 310 The following additional withholdings are deducted each pay 401K Medical Prem. Flexible Sp. United Way donation Child Support Katia 0 75 55 35 0 David 95 105 75 0 0 Jermey 340 120 80 100 360

THRU 45th pay 46th pay YTD Gross Pay YTD Fed taxable YTD SS taxable YTD Med taxable Gross pay Fed taxable SS taxable Medicare taxable SS w/h med. w/h Fed. w/h 401 K Medical Prem Flexible SpendingUnited Way Child SupportNet Pay Katia F. 43200 37350 37350 37350 960 830 830 830 51.46 12.04 70 0 75 55 35 0 661.51 David M. 55800 43425 47700 47700 1240 965 1060 1060 65.72 15.37 105 95 105 75 0 0 778.91 Jeremy W. 153450 129150 144450 144450 3410 2870 2550 3210 158.10 46.55 310 340 120 80 100 360 1895.36 Totals 252450 209925 229500 229500 5610 4665 4440 5100 275.28 73.95 485.00 435.00 300.00 210.00 135.00 360.00 3335.77 SS cap 147000

What is the Wage Expense debit amount for the 46th pay?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Security Audit And Control Features SAP ERP

Authors: Deloitte Touche Tohmatsu Research Team And Isaca

3rd Edition

1604201150, 978-1604201154

More Books

Students also viewed these Accounting questions

Question

4. explain the theory of self-efficacy,

Answered: 1 week ago

Question

1. Explain how business strategy affects HR strategy.

Answered: 1 week ago