Computing Net PayTom Hallinan works for a company that pays its employees 1½ times the regular rate for all hours worked in excess of 40 per week. Hallinan's pay rate is $15 per hour. His wagesare subject to deductions for federal income tax, Social Security tax, and Medicare tax. He is married and claims five withholding allowances. Hallinan has a 12-hour lunch breakduring an 8-hour day. His time card is shown.NameTom HallinanWeek EndingMarch 30, 20-Hours WorkedDayInOutInOutRegularOvertimeM7:5512:0212:325:3381T7:5912:0412:34 6:0581½W7:5912:05 12:35 4:30T8:0012:01 12:30 5:011/2F7:5812:02 12:31 5:3381S7:599:3311/2Complete the following for the week:regular hours x $15 per hourovertime hours x $22.50 per houra.b.C.Total gross wages000

Total gross wages:The amount that an employee earns before any taxes and deductions is known as…

Answered: Name Week Ending Tom Hallinan March 30,…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 2E

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Computing Net Pay Mary Sue Guild works for a company that pays its employees 1½ times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $8.00 per hour. Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a ½-hour lunch break during an 8½-hour day. Her time card is shown below. Name Mary Sue Guild Week Ending March 30, 20-- Hours Worked Day In Out In Out Regular Overtime M 7:57 12:05 12:35 4:33 8 T 7:52 12:09 12:39 5:05 8 1/2 W 7:59 12:15 12:45 5:30 8 1 T 8:00 12:01 12:30 6:31 8 2 F 7:56 12:05 12:34 4:30 8 S 8:00 10:31 2 1/2 Complete the following for the week: If required, round your answers to two decimal places. If an amount is zero, enter "0". a. fill in the blank 1 regular hours X $8.00 per hour $fill in the blank 2 b. fill in the blank 3 overtime hours X $12.00 per hour…
Computing Net Pay Mary Sue Guild works for a company that pays its employees 1½ times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $8.00 per hour. Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a ½-hour lunch break during an 8½-hour day. Her time card is shown below. Name Mary Sue Guild Week Ending March 30, 20-- Hours Worked Day In Out In Out Regular Overtime M 7:57 12:05 12:35 4:33 8 T 7:52 12:09 12:39 5:05 8 1/2 W 7:59 12:15 12:45 5:30 8 1 T 8:00 12:01 12:30 6:31 8 2 F 7:56 12:05 12:34 4:30 8 S 8:00 10:31 2 1/2 Complete the following for the week: If required, round your answers to two decimal places. If an amount is zero, enter "0". a. fill in the blank 1 regular hours X $8.00 per hour $fill in the blank 2 b. fill in the blank 3 overtime hours X $12.00 per hour…
Computing Net Pay Tom Hallinan works for a company that pays its employees 1½ times the regular rate for all hours worked in excess of 40 per week. Hallinan's pay rate is $11.50 per hour. His wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. He is married and claims five withholding allowances. Hallinan has a ½-hour lunch break during an 8½-hour day. His time card is shown. Name Tom Hallinan Week Ending March 30, 20-- Hours Worked Day In Out In Out Regular Overtime M 7:55 12:02 12:32 5:33 8 1 T 7:59 12:04 12:34 5:35 8 1 W 7:59 12:05 12:35 4:30 8 T 8:00 12:01 12:30 5:01 8 ½ F 7:58 12:02 12:31 5:33 8 1 S 7:59 9:33 1½ Complete the following for the week: a. fill in the blank 1 regular hours × $11.50 per hour $fill in the blank 2 b. fill in the blank 3 overtime hours × $17.25 per hour $fill in the blank 4 c. Total gross wages $fill in the blank 5 d. Federal income tax…
Computing Net Pay Mary Sue Guild works for a company that pays its employees 1½ times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $13.00 per hour. Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a ½-hour lunch break during an 8½-hour day. Her time card is shown. Name Mary Sue Guild Week Ending March 30, 20-- Hours Worked Day In Out In Out Regular Overtime M 7:57 12:05 12:35 4:33 8 T 7:52 12:09 12:39 5:05 8 ½ W 7:59 12:15 12:45 5:30 8 1 T 8:00 12:01 12:30 6:31 8 2 F 7:56 12:05 12:34 4:30 8 S 8:00 10:31 2½ Complete the following for the week: a. fill in the blank 1 regular hours × $13.00 per hour $fill in the blank 2 b. fill in the blank 3 overtime hours × $19.50 per hour $fill in the blank 4 c. Total gross wages $fill in the blank 5 d. Federal income tax…
(? Journalizing Payroll Transactions On December 31, the payroll register of Hamstreet Associates indicated the following information: Wages and Salaries Expense $8,700.00 Employee Federal Income Tax Payable 940.00 United Way Contributions Payable 220.00 Earnings subject to Social Security tax 7,600.00 Use Social Security 6.2% and Medicare 1.45% as specified in the text. 1. Determine the amount of Social Security and Medicare taxes to be withheld. If required, round your answers to the nearest cent. Social Security Tax Medicare Tax 2. Record the journal entry for the payroll, crediting Cash for the net pay. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- Dec. 31 2 3 4. 5 5 6 6. Payroll for week ended December 31
Computing Net Pay Mary Sue Guild works for a company that pays its employees 1½ times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $14.00 per hour. Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a 12- hour lunch break during an 82-hour day. Her time card is shown. Name Week Ending Mary Sue Guild March 30, 20-- Hours Worked Day In Out In Out Regular Overtime M 7:57 12:05 12:35 4:33 8 T 7:52 12:09 12:39 5:05 8 WTFS 7:59 12:15 12:45 5:30 8 8:00 12:01 12:30 6:31 8 212 7:56 12:05 12:34 4:30 8 8:00 10:31 2½ Complete the following for the week: a. regular hours x $14.00 per hour overtime hours x $21.00 per hour b. C. Total gross wages d. Federal income tax withholding (Tax Tables: Refer to Figure 8-4 in the text.). e. Social Security withholding at 6.2% f. Medicare withholding at 1.45% g. Total withholding h. Net pay 00000 000
Computing Net Pay Mary Sue Guild works for a company that pays its employees 12 times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $15.00 per hour. Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a 2- hour lunch break during an 82-hour day. Her time card is shown. Name Mary Sue Guild Week Ending March 30, 20-- Hours Worked Day In Out In Out Regular Overtime M 7:57 12:05 12:35 4:33 8 T 7:52 12:09 12:39 5:05 8 1/2 W 7:59 12:15 12:45 5:30 8 1 8:00 12:01 12:30 6:31 8 F 7:56 12:05 12:34 4:30 8 S 8:00 10:31 22 Complete the following for the week: 600 40 V regular hours x $15.00 per hour a. 135 b. V overtime hours x $22.50 per hour $ 735 C. Total gross wages d. Federal income tax withholding 10.00 $1 (Tax Tables: Refer to Figure 8-4 in the text.) е. Social Security withholding at 6.2% 10 X f. Medicare withholding at 1.45% $4 71 g. Total…
Calculation of Take-Home Wages (Accounting for Liabilities). Lina Lu is an hourly worker who earns $50 per hour. During the prior week, Lina worked 40 hours. The FICA rate is 6.2% and Medicare Rate is 1.45%. Lina's total wages for this payroll are subject to the aforementioned taxes. In addition, she had deductions of $280 for federal income tax and $80 for insurance contribution. What is her net pay? Can you please show how you came to this answer? Thank you!
Carrie Rosenburg worked 45 hours the first week of the calendar year and earns regular wages of $16/hour. She is paid an overtime rate 1.5 times her regular wage rate, contributes 4% of her gross pay to a 401(k) plan, and contributes $30/week to a flexible spending account. Her Social Security tax for the week is $____?
Employee Rick Smith Employee Address 456 1st Ave Yuma, AZ 85364 Number of Hours Worked and Hourly Rate SSN 123-45-6789 Pay Type- Gross Pay Rick's Paycheck Deductions Federal Withholding State Withholding Fed Social Security/EE Fed Medicare/EE Medical 401K Totals Pay Period Check # 108 Current Check Amount(Net Pay) Year-to-Date $168.00 $76.00 $119.04 $27.84 $50.00 $80.00 $
Subject : accounting' Lacy Crawford has a regular hourly rate of $21.60. In a week when she worked 40 hours and had deductions of $110.60 for federal income tax, $53.60 for social security tax, and $12.50 for Medicare tax, her net pay was
Abigail Trenkamp owns and operates the Trenkamp Collection Agency. Listed below are the name, number of allowances claimed, marital status, information from time cards on hours worked each day, and the hourly rate of each employee. All hours worked in excess of 40 hours for Monday through Friday are paid at 1½ times the regular rate. All weekend hours are paid at double the regular rate. Trenkamp uses a weekly federal income tax withholding table. Social Security tax is withheld at the rate of 6.2% for the first $128,400 earned. Medicare tax is withheld at 1.45% and state income tax at 3.5%. Each employee has $12 withheld for health insurance. All employees use payroll deduction to the credit union for varying amounts as listed. Trenkamp Collection Agency Payroll Information for the Week Ended November 18, 20-- Employee No of Marital Hours Worked Hourly Credit Union Total Earnings Name No. Allow. Status S S M T W T F Rate Deposit 1/1–11/11 Berling, James 1 3 M 2 2 9 8 8 9…

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Name Week Ending Tom Hallinan March 30, 20- Hours Worked Day In Out In Out Regular Overtime M 7:55 12:02 12:32 5:33 8 1 T 7:59 12:04 12:34 6:05 8 1½⁄2 WTFS 7:59 12:05 12:35 4:30 8 8:00 12:01 12:30 5:01 8 7:58 12:02 12:31 5:33 8 1 7:59 9:33 1½