Bonita Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all...

Bonita 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, 2020, are presented below.

Employee Hours Worked Hourly Rate Federal Income Tax Withholdings United Fund

Ben Abel 40 $15 $? $5

Rita Hager 42 16 ? 5

Jack Never 44 13 60 8

Sue Perez 46 13 61 5

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%.

Solutions

Expert Solution

Solution:

BONITA HARDWARE
PAYROLL REGISTER
For the week ending march 15,2020
	Earnings					Deductions
Employee	Hours	Regular	Overtime	Gross pay	FICA	Federal Income tax	State Income tax	United Fund	Total	Net Pay	Salaries & Wages Expense
Ben Abel(40*15)	40	600	0.00	600	45.9	49	18	5	117.9	482.1	600
Rita Hager (4016) (116*1.5)	40	640	24	664	50.8	20	19.92	5	95.72	568.28	664
Jack Never (4013) (413*1.5)	40	520	78	598	45.75	60	17.94	8	131.69	466.31	598
Sue perez (4013) (613*1.5)	46	520	117	637	48.73	61	19.11	5	133.84	503.16	637
Total		2280	219	2499	191.18	190	74.97	23	479.15	2019.85	2499

Journal Entries:

Date	Particulars	Debit ($)	Credit ($)
March 15	Salaries & Wages	2499
	FICA Taxes payable		191.18
	Federal income Tax Payable		190
	State Tax Payable		74.97
	United Fund payable		23
	Salaries & Wages Payable		2019.85
	(To record payroll)
March 15	Payroll Tax Expenses	34618
	FICA Tax Expense		191.18
	State unemployment taxes Payable		135
	Federal unemployment taxes Payable		20
March 16	Salaries and Wages Payable	201985
	Cash		2019.85
March 31	FICA Taxes Payable	191.18
	federal Income Taxes payable	190
	Cash		381.18

ekkarill92 answered 2 years ago

Next > < Previous

Related Solutions

An employee receives an hourly rate of $15, with time and a half for all hours...

An employee receives an hourly rate of $15, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the first week of the calendar year are as follows: hours worked, 46; federal income tax withheld, $110, Social security tax rate,6%; and Medicare tax rate, 1.5%; state unemployment tax, 5.4% on the fast $7,000; federal unemployment tax, 0.81% on the first $7,000. What is the net amount to be paid to the...

1. An employee receives an hourly rate of $45, with time and a half for all...

An employee receives an hourly rate of $45, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $950; social security tax rate, 6.0%; Medicare tax rate, 1.5%; state unemployment compensation tax, 3.4% on the first $7,000; federal unemployment compensation tax, 0.8% on the first $7,000. Calculate the employer's payroll tax expense if: (a) This is the first payroll of...

An employee receives an hourly rate of $15, with time and a half for all hours...

An employee receives an hourly rate of $15, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $120; all earnings are subject to social security tax; Social security tax rate, 6%; and Medicare tax rate, 1.5%; state unemployment compensation tax, 3.4% on the first $7,000; federal unemployment compensation tax, 0.8% on the first $7,000. Prepare the journal...

6. An employee receives an hourly rate of $17.00, with time and a half for all...

6. An employee receives an hourly rate of $17.00, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the first week of the calendar year are as follows: hours worked, 46.00 federal income tax withheld, $132.00; Social security tax rate, 6% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings; state unemployment compensation tax, 3.4% on the first $7,000; federal unemployment compensation tax, .8% on the first...

Thomas Martin receives an hourly wage rate of $40, with time and a half for all...

Thomas Martin receives an hourly wage rate of $40, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows hours worked, 48; federal income tax withheld, $350; social security tax rate, 6.0% and Medicare tax rate, 1.5%. What is the gross pay for Martin? $1, 730 $2, 080 $1, 531 $449

Sadie White receives an hourly rate of $30, with time and a half for all hours...

Sadie White receives an hourly rate of $30, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $300; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the net amount to be paid to White? $1,143.00 $1,260.00 $1,443.00 $1,000.00

Vargas Company has 35 employees who work 8-hour days and are paid hourly. On January 1,...

Vargas Company has 35 employees who work 8-hour days and are paid hourly. On January 1, 2019, the company began a program of granting its employees 10 days of paid vacation each year. Vacation days earned in 2019 may first be taken on January 1, 2020. Any days not taken in one year can be carried forward for up to two years. Information relative to these employees is as follows: (5 points) Hourly Vacation Days Earned Vacation Days Used Year Wages by Each...

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...

A company pays its employees as managers (who receive a fixed weekly salary), hourly workers (who receive a fixed hourly wage for up to the first 40 hours they work and “time- and -a-half “—1.5 times their hourly wage — for overtime hours worked )

USING C++A company pays its employees as managers (who receive a fixed weekly salary), hourly workers (who receive a fixed hourly wage for up to the first 40 hours they work and “time- and -a-half “—1.5 times their hourly wage — for overtime hours worked ), commission workers (who receive $250 plus 5.7 percent of their gross weekly sales), or pieceworkers (who receive a fixed amount of money per item for each of the items they produce). Write a program...

1. An employee receives an hourly wage rate of $24, with time-and-a-half for all hours worked...

1. An employee receives an hourly wage rate of $24, with time-and-a-half for all hours worked in excess of 40 during the week. Payroll data for the current week are as follows: hours worked, 44; federal income tax withheld, $145; social security tax rate, 6.0%; Medicare tax rate, 1.5%; state unemployment compensation tax, 3.4% on the first $7,000; and federal unemployment compensation tax, 0.8% on the first $7,000. What is the net amount to be paid to the employee? Round...

Subjects