Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help me solve this. tak of 30 , FCA tax, and a weeky deduction of 511 for a chartable contribution to Unded Way Smpton
please help me solve this.
tak of 30 , FCA tax, and a weeky deduction of 511 for a chartable contribution to Unded Way Smpton worled 57 hours during the week (3) (Cidx the icen to vew poyroill tax rale inlomiakion) Renad the teovirements Begin by computing simpacolk gross pay for the wook Comoute Simbenon net bav for the week (Found all ariounts te the nescest cest.) 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 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Requirements 1. Compute Simpson's gross pay and net pay for the week. Assume earnings to date are $13,000. 2. Journalize Dairy King's wages expense accrual for Simpson's work. An explanation is not required. 3. Journalize the subsequent payment of wages to Simpson Step 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