Solution-Journalize the payment of the payroll on march

Journalize the payment of the payroll on march

Assignment Help Accounting Basics

Reference no: EM132116811

Question - Mann Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15, 2014, are presented below.

Employee	Hours Worked	Hourly Rate	Federal Income Tax Withholdings	United Fund
Ben Abel	40	$15	$?	$5.00
Rita Hager	42	16	?	5.00
Jack Never	44	13	60.00	8.00
Sue Perez	46	13	61.00	5.00

Abel and Hager are married. They claim 0 and 4 withholding allowances, respectively. The following tax rates are applicable: FICA 7.65%, state income taxes 3%, state unemployment taxes 5.4%, and federal unemployment 0.8%.

Prepare a payroll register for the weekly payroll. (Use the wage-bracket withholding table in the text for federal income tax withholdings.)

Journalize the payroll on March 15, 2014, and the accrual of employer payroll taxes.

Journalize the payment of the payroll on March 16, 2014.

Reference no: EM132116811

Questions Cloud

How can you modify your classroom to accommodate diverse : Write a 1-2 page Philosophy of Education- What is your set of beliefs about how children develop and learn;

What diversity do you experience there : First, describe the professional setting in which you work or are preparing to work. What is your role? What diversity do you experience there?

Determine the functions of a behavior : Analyze the importance of collecting and reviewing data before implementing specific interventions to address challenging behavior.

Examine the internal and external assets you are focused : Designing visual resources and handouts that illustrate your initiative and contribute to the presentation.

Journalize the payment of the payroll on march : The following tax rates are applicable: FICA 7.65%, Prepare a payroll register for the weekly payroll. Journalize the payment of the payroll on March 16, 2014

What inference test should she use : Based on what you now know about statistical inference and using a one-tail alpha (0.025), is Sara's conclusion a logical conclusion? Why or why not?

What are some of the primary budgeting and financial aspects : What are some of the primary budgeting and financial aspects to consider for the initial budgeting plan? Offer at least one example

Compute the standard error of the sample mean for hrc : Compute the standard error of the sample mean for HRC.? What is the chance HRC finds a sample mean between $477 and $527?

Why is it important to record returns in a separate account : Why is it important to record the returns in a separate account rather than just decreasing the Sales Revenue account

User Account

All Pages

Journalize the payment of the payroll on march

Reference no: EM132116811

Reference no: EM132116811

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT