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There is a total of 4 questions in this attachment I need answered please. 1. Lori Waverly works for MRK all year and earns a

There is a total of 4 questions in this attachment I need answered please.

image text in transcribed 1. Lori Waverly works for MRK all year and earns a monthly salary of $11,700. There is no overtime pay. Lori's income tax withholding rate is 20% of gross pay. In addition to payroll taxes, Lori elects to contribute 4% monthly to United Way. MRK also deducts $125 monthly for co-payment of the health insurance premium. As of September 30, Lori had $114,900 of cumulative earnings. Requirements: 1. Compute Lori's net pay for October 2. Journalize the accrual of salaries expense and the payments related to the employment of Lori Waverly. 2. Orchard Company has monthly salaries of $10,000. Assume Orchard pays all the standard payroll taxes and no employees have reached the payroll tax limits. Journalize the accrual and payment of employer payroll taxes for Orchard Company 3. Arnold Electronics reported the following amounts on its 2016 income statement: Year Ended December 31, 2016 Net income $49,000 Income tax expense 7,350 Interest expense 5,000 What is Arnold's times-interest-earned ratio for 2016? (Round answer to nearest two decimals.)

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