Question: View Policies -75 Current Attempt in Progress Oriole Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked

 View Policies -75 Current Attempt in Progress Oriole Hardware has four

employees who are paid on an hourly basis plus time-and-a-half for all

hours worked in excess of 40 a week Payroll data for the

View Policies -75 Current Attempt in Progress Oriole Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week Payroll data for the week ended March 15 are presented below. Employee Hours Worked Hourly Rate Federal Income Tax Withholdings United Fund Ben Abel 40 $17.00 $48.00 $5.00 Rita Hager 42 22.00 21.00 5.00 Jack Never 44 14.00 60.00 8.00 Sue Perez 46 14.00 61.00 5.00 The following tax rates are applicable: FICA 7.65% (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), state income taxes 3%, state unemployment taxes 5.4%, and federal unemployment 0.6%. Journalize employer payroll taxes. No employee has reached the Social Security limit of $128,400 or the FUTA/SUTA limit of $7,000. (Round answers to 2 decimal places, ey. 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.) o BI E re to search -15 III The following tax rates are applicable: FICA 7.65% (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), state income taxes 3%, state unemployment taxes 5.4%, and federal unemployment 0.6%. Journalize employer payroll taxes. No employee has reached the Social Security limit of $128,400 or the FUTA/SUTA limit of $7,000. (Round answers to 2 decimal places, eg. 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 15 e Textbook and Media List of Accounts i e O arch -/5 Journalize the payment on March 31pf the FICA taxes and federal income taxes payable only. (Round answers to 2 decimal places, eg. 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 31 e Textbook and Media List of Accounts Attempts: 0 of 2 used Submit Answer Save for Later i e e e to search

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!