Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Record/journalize the employees payroll entry by function. Book the taxes you withhold as one entry for all three employees 3. John has three employees: Brandon,
Record/journalize the employees payroll entry by function. Book the taxes you withhold as one entry for all three employees
3. John has three employees: Brandon, the Manager, who earns a salary of $52,000 per year or $1,000 per week, Clarissa, the Sales Coordinator, who is paid $20 per hour, and David, the Shipper, who is paid $.20 per package shipped. John pays his employees every week and, this past week, Brandon worked all five scheduled days, Clarissa worked fifty (50) hours, and David shipped 4,500 packages. Record/journalize the employees' payroll entry (pay attention to what is asked for) by function (Management Salary Expense, Sales Wage Expense, & Shipping Wage Expense) For the paychecks that will be issued this coming Friday, which will be the first time the employees are paid this calendar year. All the employees want 20% of their earnings withheld for Federal Income Tax purposes. The tax rates are FICA Social Security 6.2% State Unemployment 5.4% Medicare 1.45% Federal Unemployment 0.6% Book the taxes you withhold as one entry for all three employees, not separate entries for each employee 3. John has three employees: Brandon, the Manager, who earns a salary of $52,000 per year or $1,000 per week, Clarissa, the Sales Coordinator, who is paid $20 per hour, and David, the Shipper, who is paid $.20 per package shipped. John pays his employees every week and, this past week, Brandon worked all five scheduled days, Clarissa worked fifty (50) hours, and David shipped 4,500 packages. Record/journalize the employees' payroll entry (pay attention to what is asked for) by function (Management Salary Expense, Sales Wage Expense, & Shipping Wage Expense) For the paychecks that will be issued this coming Friday, which will be the first time the employees are paid this calendar year. All the employees want 20% of their earnings withheld for Federal Income Tax purposes. The tax rates are FICA Social Security 6.2% State Unemployment 5.4% Medicare 1.45% Federal Unemployment 0.6% Book the taxes you withhold as one entry for all three employees, not separate entries for each employeeStep 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