Ian McCarthy works for Willow Tree Homes. His rate of pay is $16.00 per hour and he is paid one and one-half times the regular rate for all hours worked in excess of 40 per week. During the last week of March of the current year he worked 45 hours. Ian is single and claims 2 withholding allowances on his W-4 form. His weekly wages are subject to the following deductions: b. C. d. e. 1. Employee (Federal) income tax (use withholding table provided in text). Social Security tax at 6.2%. Medicare tax at 1.45%. Health insurance premium, $60. Credit union deposit, $140. United Way contribution, $15. Required: 1. 2. Compute McCarthy's regular, overtime, gross, and net pay Journalize the payment of his wages for the week ended March 26, crediting Cash for the net amount. For the toolbar, press ALT-F10 (PC) or ALT+FN+F10 (Mac). B V IU & Paragraph Arial V 10pt Y Ev AV LV I. + 3v ✓ XQ5 F x² x, & 1. 1" 22@N 田口 6388 田山奥园 BE >> * () O Q ***
Ian McCarthy works for Willow Tree Homes. His rate of pay is $16.00 per hour and he is paid one and one-half times the regular rate for all hours worked in excess of 40 per week. During the last week of March of the current year he worked 45 hours. Ian is single and claims 2 withholding allowances on his W-4 form. His weekly wages are subject to the following deductions: b. C. d. e. 1. Employee (Federal) income tax (use withholding table provided in text). Social Security tax at 6.2%. Medicare tax at 1.45%. Health insurance premium, $60. Credit union deposit, $140. United Way contribution, $15. Required: 1. 2. Compute McCarthy's regular, overtime, gross, and net pay Journalize the payment of his wages for the week ended March 26, crediting Cash for the net amount. For the toolbar, press ALT-F10 (PC) or ALT+FN+F10 (Mac). B V IU & Paragraph Arial V 10pt Y Ev AV LV I. + 3v ✓ XQ5 F x² x, & 1. 1" 22@N 田口 6388 田山奥园 BE >> * () O Q ***
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 1PB
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