Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please answer all three questions. YanYu Zheng is employed by JackJoe, Inc.. During the month of January, Yanyu earned her monthly salary of $100,000 ($1,200,000
Please answer all three questions.
YanYu Zheng is employed by JackJoe, Inc.. During the month of January, Yanyu earned her monthly salary of $100,000 ($1,200,000 for the year) Yanyu is single, and had $22,000 of federal income tax withheld from her pay for the month. YanYu works in a state without an income tax. YanYu's pay is subject to Social Security taxes at a 6.2% rate and Medicare at a 1.45% rate. The annual base for social security taxes is $140,000, JackJoe's payroll is subject to federal and state unemployment taxes at a rate of 6% on each employee's gross pay, up to $7.000 per year. Complete YanYu's paycheck and the remittance advice (i.e., "paycheck stub"). (5 points) Prepare journal entries for YanYu's pay and the related payroll expenses. (2 b) journal entries) (5 points) What is JackJoe's (employer cost) total expense of payroll taxes FUTA/SUTA and FICA for employing YanYu for the year? (5 points) test 2: Question 6 Payroll Criteria (a) Complete YanYu's paycheck and the remittance advice (i... "paycheck stub). b) Prepare journal entries for YanYu's pay and the related payroll expenses. (2 journal entries) c) What is JackJoe's (employer cost) total expense of payroll taxes FUTA/SUTA and FICA for employing YanYu for the year? Ratings Pts 5 pts 5 pts 5 pts Total Points: 15 Please follow the instructions in the pic above otherwise I won't get any points. Thank youStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started