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Trina Carver works at College of Baltimore and is paid $45 per hour for a 40-hour workweek and time-and-a-half for hours above 40. i (Click
Trina Carver works at College of Baltimore and is paid $45 per hour for a 40-hour workweek and time-and-a-half for hours above 40. i (Click the icon to view payroll tax rate information.) Read the requirements Requirement 1. Compute Carver's gross pay for working 48 hours during the first week of February Straight-time pay for 40 hours $ 1,800.00 Overtime pay for 8 hours 540.00 $ 2,340.00 Gross Pay Requirement 2. Carver is single, and her income tax withholding is 10% of total pay. Carver's only payroll deductions are payroll taxes. Compute Carver's net (take-home) pay for the week. Assume Carver's earnings to date are less than the OASDI limit. (Round all amounts to the nearest cent.) $ 2,340.00 Gross pay Withholding deductions: Employee income tax Employee OASDI tax Employee Medicare tax Total withholdings 's 234.00 145.08 33.93 413.01 $ 1,926.99 Net (take-home) pay Requirement 3. Journalize the accrual of wages expense and the payments related to the employment of Trina Carver. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin with the entry to accrue wages expense and payroll withholdings for Trina Carver. (Round all amounts to the nearest cent.) Date Accounts and Explanation Debit Credit * Requirements A More Info Compute Carver's gross pay for working 48 hours during the first week of February 2. Carver is single, and her income tax withholding is 10% of total pay Carver's only payroll deductions are payroll taxes. Compute Carver's net (take-home) pay for the week. Assume Carver's earnings to date are less than the OASDI limit 3. Journalize the accrual of wages expense and the payments related to the employment of Trina Carver. For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% on all earnings, FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Print Done Print Done
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