Mann Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours
Question:
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%.
Instructions
(a) Prepare a payroll register for the weekly payroll. (Use the wage-bracket withholding table in the text for federal income tax withholdings.)
(b) Journalize the payroll on March 15, 2014, and the accrual of employer payroll taxes.
(c) Journalize the payment of the payroll on March 16, 2014.
(d) Journalize the deposit in a Federal Reserve bank on March 31, 2014, of the FICA and federal income taxes payable to thegovernment.
Federal Income Tax Withholdings Hourly Rate $15.00 16.00 13.00 13.00 United Fund Employee Ben Abcl Rita Hager Jack Never Sue Perez Hours Worked 40 42 %5.00 5.00 8.00 5.00 60 61 46
Step by Step Answer:
a MANN HARDWARE Payroll Register For the Week Ending March 15 2014 Earnings Deductions Employee Hour...View the full answer
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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