Ramirez Company has the following data for the weekly payroll ending January 31. Employees are paid 1
Question:
Ramirez 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. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages.
Instructions
a. Prepare the payroll register for the weekly payroll.
b. Prepare the journal entry to record the payroll.
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Related Book For
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell
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