Question: Alvarez Company has the following data for the weekly payroll ending January 31. Employees are paid 1 times the regular hourly rate for all hours

Alvarez Company has the following data for the weekly payroll ending January 31.

Employees are paid 1½ times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 8% on the first $100,000 of gross earnings. Alvarez Company is subject to 5.4% state unemployment taxes and 0.8% federal unemployment taxes on the first $7,000 of gross earnings.Instructions(a) Prepare the payroll register for the weekly payroll.(b) Prepare the journal entries to record the payroll and Alvarez's payroll taxexpense.

Federal Income Tax Hours Hourly Health Insurance Rate Withholding Employee L. Donnon L. Gregoire D. Alcazar 8. 8. $12 $34 $10 25 10 8. 8. 8. 13 37 25 10 8. 15 58

Step by Step Solution

★★★★★

3.39 Rating (165 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

b Jan 31 Salaries and Wages Expense 183700 FICA Taxes Payable 14696 Federal Income Taxe... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

54-B-A-L (564).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Income Statement, Statement of Owner's Equity, and Balance Sheet Paulson's Pet Store completed the Adjusted Trial Balance for the year ended December 31, 20--. Owner's equity as of January 1, 20--,...

Awal Company is a large labor-intensive manufacturing company located in Arad Industrial Area, an industrial zone in Muharraq Governorate. Awal Company manufactures and sells disposable crockery,...

Alvamar Company has the following data for the weekly payroll ending January 31 Employees are paid 112 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes...

Piniella Company has the following data for the weekly payroll ending January 31. Employees are paid 112 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes...

Alvarez Company has the following data for the weekly payroll ending January 31. Employees are paid 1 1/2 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes...

Ramirez Company has the following data for the weekly payroll ending January 31. Employee M L. Helton R. Kenseth D. Tavaras 8 8 9 T 8 8 Hours W 9 8 T F 8 8 . 10 8 S 3 2 10 8 8 9 0 Hourly Rate $12 14...

Vaughn Company has the following data for the weekly payroll ending January 31. Employee M T W L. Helton R. Kenseth D. Tavaras 9 8 9 8 00 9 Hours 10 9 7 8 T 8 8 9 F S 10 8 8 2 4 0 Hourly Rate $12 14...

Oriole Company has the following data for the weekly payroll ending January 31. Employees are paid 1.50 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes...

Ivanhoe Company has the following data for the weekly payroll ending January 31. Employee M L. Helton R. Kenseth D. Tavaras 8 8 9 T 8 8 10 Hours W 10 8 100 8 T 8 8 8 F 10 8 9 S 3 3 0 Hourly Rate $12...

Crane Company has the following data for the weekly payroll ending January 31. Employee L. Helton R. Kenseth. D. Tavaras M 8 8 9 T 8 8 11 Hours W 10 8 8 T 8 8 8 F 10 8 9 S 3 4 0 Hourly Rate Federal...

Crane Company has the following data for the weekly payroll ending January 31. Employee L. Helton R. Kenseth D. Tavaras M 8 8 9 T 8 8 10 Hours W 12 8 T 8 8 8 8 LL 10 8 S 3 5 9 0 Hourly Rate Federal...

The two methods that consider the time value of money concept to analyze capital investment proposals are: a. the internal rate of return method and the average rate of return method. b. the net...

Problem 1 Auditing standards describe three overall categories of audit procedures: Procedures to gain an understanding of the client and its environment in order to assess the risks of material...

08.03-PR003 A mold for manufacturing medical supplies (MACRS-GDS 5- year property) is purchased at the beginning of the fiscal year for $30,000. The estimated salvage value after 10 years is $3,000....

Customer Relationship Management (CRM) In its implementation, CRM builds long-term relationships with customers to create value for the organization and its customers, helping companies to get new...

2. Experiment: Randomly select the heights of at least 15 of the students in your class. a. Develop a control chart and plot the heights on the chart. b. Which chart should you use? c. Is this...

Question 1 (10 Marks) Mr Alfred Johannes is a sales manager at Alfred Group of Companies Ltd (AGC) a Namibian incorporated company. During the year, he have been earning a salary of N$10 000 per...

Bushman Ltd enters into a contract with Lessor Ltd for the use of a ship for one year. The ship is to be used to transport wood from central Queensland to the port of Brisbane. Lessor does not have...

Prepare briefing notes in order to advise the main board of delta on the following matters: (a) The possible price that the shareholders of Fire might expect (per share and in total) using each of...

Explain how events in the world economy can affect Australia's current account balance.

The relevant range is indispensable in cost behavior analysis. Is this true? Why or why not?

Ryan Ricketts is confused. He does not understand why rent on his apartment is a fixed cost and rent on a Hertz rental truck is a mixed cost. Explain the difference to Ryan.

At the high and low levels of activity during the month, direct labor hours are 90,000 and 40,000, respectively. The related costs are $160,000 and $100,000. What are the fixed and variable costs at...

Suppose the spot and three-month forward rates for the yen are 79.05 and 78.52, respectively. b. What would you estimate is the difference between the annual inflation rates of the United States and...

6) Suppose you invest 35% of your portfolio in 3M and 65% in Comcast. The expected $ return on these stocks is 13% and 19% respectively. The Standard deviations of their returns are 17% & 23%,...

1. What was the hospital's original profit forecast (assume away any issues with depreciation, taxes, etc.)? Halfway through the fiscal year, what is the hospital's revised projection for FY11...