Question: Multiple part question: please answer all. A) Karen Johnson's weekly gross earnings for the present week were $2,835.00. Johnson has two exemptions. Using the wage
Multiple part question: please answer all.
A) Karen Johnson's weekly gross earnings for the present week were $2,835.00. Johnson has two exemptions. Using the wage bracket withholding table with a $75 standard withholding allowance for each exemption, what is Johnson's federal income tax withholding? Please show work.
B) David Smith's weekly gross earnings for the week ending October 14 were $1,850.00 and her federal income tax withholding was $238.00. Assuming the social security rate is 6% and Medicare is 1.5%, what is Smiths net pay? Please show work.
C) The payroll register of Classic Designs indicates $1,320 of social security withheld and $330 of Medicare tax withheld on total salaries of $22,000 for the period. Federal withholding for the period totaled $1,875. Provide the journal entry for the periods payroll. Indicate debits and credits.
D) The payroll register of North Country Store Services indicates $1080 of social security withheld and $270 of Medicare tax withheld on total salaries of $18,000 for the period. Earnings of $6250 are subject to state and federal unemployment compensation taxes at the federal rate of 0.7% and the state rate of 3.8%. Provide the journal entry to record the payroll tax expense for the period.
E) Mansfield Services Company provides its employees vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $44,000 for the period. The pension plan requires a contribution to the plan administrator equal to 8% of employee salaries. Salaries were $450,000 during the period.
Provide the journal entry for the:
- vacation pay and
- pension benefit.
Thank you!
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