Question: Part 1 After evaluating the information provided by the La Nueva Era bookstore employees: Determine what are the amounts that must be reported in the

Part 1

After evaluating the information provided by the La Nueva Era bookstore employees:

Determine what are the amounts that must be reported in the employees' W2. Calculate the Social Security and Medicare payment that the employer must make. Calculate the state unemployment that the employer must pay at the rate of 6% of the first $ 10,000 the employee earns. Make the entries to the wage related to the debts contracted with the different agencies in contributions by the employer.

Employee name Biweekly salary Retirement payment
Juan del Pueblo $1,250.00 $21.93
Ramonita Ramrez 950.00 37.12
Brenda Montalvo 1,100.00 88.00
Camilo Monge 590.00 23.02
Jorge Emmanueli 860.00 92.00
Mariel Estrada 1,020.00 48.00
Emanuel Reyes 750.00 25.60
Ernesto Ramrez 640.00 26.40
Daniela Morales 1,000.00 32.68
ngel Carrasquillo 860.00 68.80

Part 2

Supermercado Caridad offers its employees vacation benefits and contributes a 2% contribution to a 401K. The employees had a total salary of $ 125,000 and vacation benefits of $ 28,460.

Calculate how much the employer contributes for the 401k. Make the wage entries related to vacation pay. Make the wage entries related to the 401K contribution.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

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

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!