What amount will be paid to employees for this payroll.

On 1/31/2020, Deluxe Printing pays employee salaries of $14,000. Withholdings are $850 for the employee portion of FICA, $1,800 for federal income tax, $500 for state income tax, and $400 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs $150 for federal and state unemployment tax and $400 for the employer portion of health insurance.

$9,900.

$10,300.

$14,000.

$10,450.

Solutions

Expert Solution

Calculation of amount paid to employees:

Particulars	Amount
Salaries	$14,000
Less: Deductions
FICA tax	850
Federal income tax	1,800
State income tax	500
Health insurance	400
Amount paid to employees	$10,450

Amount paid to employees = $10,450 is the correct answer.

$10,450 is the correct answer.

DEEPIKA GOYAL answered 2 years ago

Next > < Previous

Related Solutions

Accrued Payroll and Payroll TaxesJoey Department Store’s employees are paid on the 6th and 22nd...

Accrued Payroll and Payroll TaxesJoey Department Store’s employees are paid on the 6th and 22nd of each month for the period ending the last day of the previous month and the 15th of the current month, respectively. An analysis of the payroll on Monday, October 6, 2015, revealed the following data.Gross PayFICAFederal Income TaxState Income TaxNet InsurancePayOffice staff salaries$15,450$ 810$ 2,400$ 450$ 410$11,380Officer salaries31,0002866,3001,00050022,914Sales salaries20,000 8344,200 690 48013,796Totals$66,450$1,930$12,900$2,140$1,390$48,090It is determined that for the September 30 pay period, no additional employees exceeded the wage...

Each time employees are paid, the company has a liability for Employer Payroll Taxes. (QBO)

Background: M & D Contractors has numerous employees who are paid on a weekly basis. Payroll...

Background: M & D Contractors has numerous employees who are paid on a weekly basis. Payroll information for the most recent week ending August 10, 2018 is given below: Total Employee compensation $136,000 FICA social security tax rate 6.2% FICA medicare tax rate 1.45% Federal unemployment tax rate 0.6% State unemployment tax rate 5.4% Federal income tax rate 15.0% Of the total employee compensation, $136,000 is subject to the FICA taxes and $48,500 is subject to the unemployment taxes. Other expenses include health insurance...

How can an organisation make sure payroll preparation allows sufficient time for employees to be paid...

How can an organisation make sure payroll preparation allows sufficient time for employees to be paid within designated timelines? 80–100 words (Please note: Australian)

3. Meadow Lake Groceries has two employees who are paid monthly. Complete the payroll register by...

3. Meadow Lake Groceries has two employees who are paid monthly. Complete the payroll register by calculating deductions like EI , CPP and Income Tax and Net pay for each employee. Consider tax rate as 20%. Employee # Gross Pay Bentley A. 2,010 Craig. T. 2,115

Total payroll of Oriole Co. was $1,870,000, of which $280,000 represented amounts paid in excess of $128,400 to certain employees.

Total payroll of Oriole Co. was $1,870,000, of which $280,000 represented amounts paid in excess of $128,400 to certain employees. The amount paid to employees in excess of $7,000 was $1,420,000. Income taxes withheld were $438,000. The state unemployment tax is 1.2%, the federal unemployment tax is .8%, and the F.I.C.A. tax is 7.65% on an employee's salaries and wages to $128,400 and 1.45% in excess of $128,400.Prepare the journal entry for the salaries and wages paid.Prepare the entry to...

In Cihan University, the payroll department is in-charge of hiring employees, timekeeping, preparing the payroll and...

In Cihan University, the payroll department is in-charge of hiring employees, timekeeping, preparing the payroll and paying the payroll. In not less than 500 words, write a report advising the University on the implication of allowing the payroll department to handle these four jobs and way forward.

1) The Payroll data set has data on the numbers of employees and the monthly payroll...

1) The Payroll data set has data on the numbers of employees and the monthly payroll in thousands of dollars for 50 firms in two different industries. If you divide ”payroll” by ”employees” you get the average monthly salary for each firm. The populations of interest are the firms in industry A and those in industry B. The population variable of interest is the average monthly salary in each of the firms of these populations. At a significance level of...

1. Martinez Company’s weekly payroll, paid on Fridays, totals $7,540. Employees work a 5-day week. Prepare...

1. Martinez Company’s weekly payroll, paid on Fridays, totals $7,540. Employees work a 5-day week. Prepare Martinez’s adjusting entry on Wednesday, December 31, and the journal entry to record the $7,540 cash payment on Friday, January 2. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) 2. On July 1, 2020, Indigo Co. pays $10,480 to Sweet...

The September 2020 payroll of Keefer, Inc. was $818,000 of which $105,000 represented amounts paid in excess of $137,700 to certain employees.

The September 2020 payroll of Keefer, Inc. was $818,000 of which $105,000 represented amounts paid in excess of $137,700 to certain employees. The amount paid to employees in excess of $7,000 was $620,000. Income taxes withheld were $192,000, and union dues withheld were $12,000. The state unemployment tax is 1.2%, the federal unemployment tax is .8%.The state unemployment tax and federal unemployment tax are both calculated on the first $7,000 of employee wages.A. Prepare the journal entry for the wages...

Subjects