About how frequently does Hope receive a paycheck? COMPANY NAME Some Corporation 123 Somewhere Drive, Durham, NC 12345 EMPLOYEE NAME Hope Marie Kingsley INCOME GROSS WAGES YTD GROSS 5,400.00 weekly RATE 15.00 O monthly YTD DEDUCTIONS 2,836.89 O daily O every two weeks SSN Xxxx-xx-6789 HOURS 40 EMPLOYEE ID 98856 CURRENT TOTAL 600.00 YTD NET PAY 2.563.11 CHECK NO. 98765 DEDUCTIONS FICA MED TAX FICA SS TAX FED TAX NC ST TAX HEALTH DENTAL RETIREMENT CURRENT TOTAL 600.00 EARNINGS STATEMENT PAY PERIOD 5/1/2020-5/15/2020 CURRENT DEDUCTIONS 315.21 CURRENT TOTAL 8.70 37.20 90.00 34.50 $76.58 $8.23 $60.00 PAY DATE 5/21/2020 YEAR-TO-DATE 78.30 334.80 810.00 310.50 $689.22 $74.07 $540.00 NET PAY 284.79 "Excluded from federal taxable wage

About how frequently does Hope receive a paycheck? COMPANY NAME Some Corporation 123 Somewhere Drive, Durham, NC 12345 EMPLOYEE NAME Hope Marie Kingsley INCOME GROSS WAGES YTD GROSS 5,400.00 weekly RATE 15.00 O monthly YTD DEDUCTIONS 2,836.89 O daily O every two weeks SSN Xxxx-xx-6789 HOURS 40 EMPLOYEE ID 98856 CURRENT TOTAL 600.00 YTD NET PAY 2.563.11 CHECK NO. 98765 DEDUCTIONS FICA MED TAX FICA SS TAX FED TAX NC ST TAX HEALTH DENTAL RETIREMENT CURRENT TOTAL 600.00 EARNINGS STATEMENT PAY PERIOD 5/1/2020-5/15/2020 CURRENT DEDUCTIONS 315.21 CURRENT TOTAL 8.70 37.20 90.00 34.50 $76.58 $8.23 $60.00 PAY DATE 5/21/2020 YEAR-TO-DATE 78.30 334.80 810.00 310.50 $689.22 $74.07 $540.00 NET PAY 284.79 "Excluded from federal taxable wage

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Now you try looking at a pay stub: XYZ Ine. XYZ Inc. 111 Centre Street, Toronto, ON X1X 1X1 Earnings Statement Period ending: 27/06/15 Pay date: 02/07/15 Social Insurance Number: 012 345 678 Other Benefits and Earnings Regular Stahol Information this perlod Y.T.D. 238.89 rate hours 38.76 this perlod 436.05 90.00 12.80 $538.85 Y.T.O. 795.40 90.00 31.82 11.25 Vacent 11.25 Vacpay Gross Pay 917.22 Deductions Statutory Federal Tax 80.83 119.31 14.96 39.38 EI 10.14 CPP 26.68 421.20 Net Pay TASK: Using the pay statement example, provide the missing information below: Pay period for this pay Total deductions this pay Employee ID information on this Amount that went into the stub employee's bank account this pay Is vacation being paid out or is it Amount paid this year towards the federal pension given as time off instead? What does STAHOL mean What is their hourly rate How many hours did they actually work this pay period, on the job? Statutory deductions this pay were: 2) 3) Calculate the…
Assume an employee has a gross pay of $500 and vacation pay is paid out at 4%. How much extra gross pay does the employee receive on their paycheque? Select one: a. $500 O b. $0 c. $20 d. $480
Calculate Little Pear Administration Pty Ltd’s superannuation expense for the month of September using the following information: (Show your workings for superannuation). For month of September Employee Salary Annual Leave Sick Leave Overtime Allowance Superannuation (Show your workings) David Reed $6,100 $469 $300 $600 $180 dry cleaning Carol Wright $3,732 - $144 $250 $50 first aid Debra Foy $2,180 - - $445 - Michael Green $4,920 $378 - - $250 car allowance John Mills $11,600 $892 $446 $125 $350 travel allowance Peter Black $400 - $15 - - Total
ABM- BUSINESS MATHEMATIO Grade/Section: 11 ABM toVislse v C. P28,000 vD. P26,000 esE en bns leeHlid1ot 02e A. P27,000 P25,000 В. To 6. Gina has a total monthly deduction of -ge10 P2,845. If her take-home pay is P18,945, how much is her gross earning for working this month? A. P16,100SE CENO B. P22,500 C. P18,945, D. P21,790 7. Mr. Buenaventurado's annual net income is P1,200,000. What is his annual gross income if his annual deduction is 20% of his gross?
ngageNOWv2 |Online teachir x b d21 mnsu - Bing E.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSes. o A company whose fiscal year ends December 31, has a weekly payroll of $100,000. Employees work 5 days per week, Monday through Friday and payday is every Friday. How much wages expense will be recorded on the Friday, January 3 payday? Oa. $60,000 Ob. $100,000 Oc. $40,000 Od. $0
Review your friend Johnny's weekly paystub/earning's statement and answer questions #1 -4 that follow it. 121213 EARNINGS STATEMENT Pay Perlod: 2018 - 042018 Abstract United Jamaica, NY. 11433, USA Pay Date 0O2018 Employee 2214 Johnny Brave Marital Status Single Exemptions: 0 Jamaica NY. 4564I, USA Secial Security ss6 bEDUCTIONS YTD TOTAL B1.20 347 20 631.40 2.00 EARNINGS RATE 10 HOURS TOTAL 400.00 0.00 0.00 0.00 0.00 0.00 YTD TOTAL TOTAL 5.600.00 Salary Overtime Holiday Vacatin Bonus Ploat Fica- Medicare Fica- Social Secunty Federal Tax State Ta 0.00 240 45.10 2000 0.00 0.00 00 0.00 DEDUCTION TOTAL 95.70 GROSS PAY 400.00 S00.00 NET PAY 30430 420.20 1. For the one week pay period ending 04/03/2018, what is Johnny's gross pay? (Section 4.2) Page 9 2. How much was deducted for federal income tax in this pay period? (Section 4.2) 736 DM
Employees’ earnings and taxesA weekly payroll summary made from labor time records showsthe following data for Pima Company:HourlyRateHoursEmployee Classification Regular OvertimeTu, H. Direct $12 40 2Dante, J. Direct 12 40 3Jamal, M. Direct 15 40 4Marcus, L. Indirect 9 40Alexander, T. Indirect 18 40Overtime is payable at one-and-a-half times the regular rate of payand is distributed to all jobs worked on during the period.a. Determine the net pay of each employee. The income taxes withheldfor each employee amount to 15% of the gross wages.b. Prepare journal entries for the following:1. Recording the payroll.2. Paying the payroll.3. Distributing the payroll. (Assume that the overtime premiumwill be charged to all jobs worked on during the period.)4. The employer’s payroll taxes. (Assume that none of theemployees has achieved the maximum wage bases for FICAand unemployment taxes.)
v2.cengagenow.com Employee Net Pay Stan Stately's weekly gross earnings for the week ended April 22 were $2,400, and his federal income tax withholding was $407.58. Assuming that the social security rate is 6% and Medicare is 1.5% of all earnings, what is Stately's net pay? Round your answer to two decimal places. LA O $ ♥
Problem 2. A weekly payroll summary made from time tickets shows the following data: A weekiy payroii su mai y mauv uv . Exemption Status S Number of Hours Rate/Hour Regular Overtime 40 40 + Employe Austria, B. Bautista, D. De Santos, M. Motus, R. Reyes, A. Classification Direct Direct Direct Indirect 36 36 МЕ 45 40 4 МЕ-2 30 40 4. Indirect HF 30 40 HF Overtime is payable at one-and-a-half times the regular rate of pay for an employee. Required • a) Determine the net pay for each employee. b) Prepare journal entries for: • recording the payroll. payment of the payroll. • distribution of the payroll. • the employer's payroll taxes.
Review your triend Johnny's weekly paystub/earning's statement and answer questions #1 -4 that follow it. 121213 EARNINGS STATEMENT Pay Periodi 22018- 042018 Pay Date: 0402018 Employee 2214 Abstract United Jamaica, NY. 11433, USA Marital Status Single Johnny Brave Jamaica. NY. 45641, USA Social Security s46 Eemptions: 0 EARNINGS RATE Salary Overtime Holiday Vacation Bonus Ploat DEDUCTIONS Fica - Medicare Fica - Social Security Federal Tax State Ta HOURS YTD TOTAL B1.20 347.20 631.40 280.00 TOTAL 400.00 YTD TOTAL 5,600.00 TOTAL 5.80 24.80 45.10 20.00 10 40 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 DEDUCTION TOTAL 95.70 GROSS PAY 400.00 S00.00 NET PAY 30430 420.20 1. For the one wngls pay period ending 04/03/2018, what is Johnny's gross pay? (Section 4.2) Page 2. How much was deducted for federal income tax in this pay period? (Section 4.2) 7:36 PM
Problem 2. A weekly payroll summary made from time tickets shows the following data: A weekiy payroii su mai y mauv uv .- Exemption Status S Number of Hours Classification Direct Direct Rate/Hour Regular Overtime Employee Austria, B. Bautista, D. De Santos, M. Motus, R. Reyes, A. P. 36 40 36 40 3 ME МЕ-2 HF - 4 45 40 Direct Indirect Indirect 30 40 30 40 HF Overtime is payable at one-and-a-half times the regular rate of pay for an employee. Required a) Prepare journal entries for: • recording the payroll. > payment of the payroll. • distribution of the payroll. • the employer's payroll taxes.
Problem 2. A weekly payroll summary made from time tickets shows the following data: A weekiy payroii sumimai y mauv - Exemption Status 學了實TT Number of Hours Rate/Hour Regular Overtime 36 Employee Austria, B. Bautista, D. De Santos, M. Motus, R. Reyes, A. Classification Direct Direct Direct Indirect 40 P. 36 45 40 40 3 МЕ МЕ-2 HF 4 30 40 4 Indirect 30 40 HF Overtime is payable at one-and-a-half times the regular rate of pay for an employee. Required a) Determine the net pay for each employee.