Joshua Vermier of Sacramento, California, received a ralse after his first year on the job to $44,200 from his initial salary of $40.000. what was Joshua's ralse stated as a percentage? Inflation averaged 2.4 percant for the year. Round your answer to one dedmal place. What was his real income after the ralse? Round your answer to nearest cent. What was his real raise stated as a percentage? Round your anser to one decimal place.

Joshua Vermier of Sacramento, California, received a ralse after his first year on the job to $44,200 from his initial salary of $40.000. what was Joshua's ralse stated as a percentage? Inflation averaged 2.4 percant for the year. Round your answer to one dedmal place. What was his real income after the ralse? Round your answer to nearest cent. What was his real raise stated as a percentage? Round your anser to one decimal place.

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 7E

See similar textbooks

Similar questions

Hobby Hut has three employees. Find the amount subject FUTA and the amount of the FUTA for this pay period for each employee. If the YTD is already more than $7000, then $0 is subject to FUTA and the FUTA TAX is $0. And the FUTA rate is at 6.0% or 0.006. Do not put dollars signs in your answers. Employee Year to Date Gross this Pay period Suject to FUTA FUTA Paul Braun 5999 1234 Jackie Prince 9856 2543 Flora Jones 3456 1009
Joshua Vermier of Sacramento, California, received a raise after his first year on the job to $45,400 from his initial salary of $42,200. What was Joshua’s raise stated as a percentage? Inflation averaged 3 percent for the year. Round your answer to one decimal place. % What was his real income after the raise? Round your answer to nearest dollar. $ What was his real raise stated as a percentage? Round your answer to one decimal place. %
Carol Blane’s cumulative yearly earnings for the year are $29,000, counting her current payperiod salary amount of $4,500. Assume the FICA tax rate is 6.2 percent for Social Security, witha limit of $106,800, and 1.45 percent for Medicare, applied to all earnings. The FUTA tax is 0.6percent, with a limit of $7,000, and the SUTA tax is 5.4 percent, with a limit of $7,000. Theemployer's payroll tax expense entry will include a credit to: a. FICA Tax Payable for $279.00.b. FICA Tax Payable for $344.25.c. Federal Unemployment Tax Payable for $27.00.d. State Unemployment Tax Payable for $243.00.e. Federal Unemployment Tax Payable for $270.00.
Mary Gonzalez had total cumulative gross earnings of $5,800 as of 1/31/20X1. Her gross earnings for the pay period ending 2/15/20X1 were $3,000. If federal unemployment taxes are 0.6% on a maximum earnings of $7,000 per year, how much federal unemployment tax will be paid by Mary and how much will be paid by her employer for her earnings of 2/15/20X1? Multiple Choice Mary will pay $0 and her employer will pay $10.80. Mary will pay $0 and her employer will pay $7.20. Mary will pay $7.20 and her employer will also pay $7.20. Mary will pay $0 and her employer will pay $0.
Dave Brown's cumulative earnings are $127,200 , and his gross pay for the week is $5,300 . If the FICA rates are: Social Security 6.2% and Medicare is 1.45% , what are his FICA-OASDI and FICA-Medicare taxes for the week? Assume the Social Security threshhold is $128,400. it is multilple choices question. the choices are: A)$74.40;$17.40 B)$0;$76.85 C)74.40;76.85 D)$328.60;76.85
An employee has year-to- date earnings of $41,050. The employee's gross pay for the next pay period is $4,561. Assuming a FICA--OASDI rate of 6.2% and FICA-Medicare rate of 1.45%, how much FICA tax will be withheld from the employee's pay? Round to the nearest whole dollar
Practice, Practice, Practice For the current pay period, compute the following for the employees of Rodeo. Note: Round each to the nearest cent and if an amount is zero, enter "0". Robert has cumulative earnings of $58,200. His current earnings are $3,201.00. Robert's 2018 OASDI withholding is: $And his 2018 HI withholding is: $ Joan's current earnings total a gross amount of $6,721.00. Year to date she has earnings of $122,200. Joan's 2018 OASDI withholding is: $And her 2018 HI withholding is: $ Ellen's current earnings total a gross amount of $19,030. Year to date earnings are $346,000. Ellen's 2018 OASDI withholding is: $And her 2018 total HI withholding is: $Regarding Ellen's supplemental withholding for the current period, select the correct response. Compute the total annual tax for the following individuals. Note: Round each to the nearest cent. Joaquin has self-employment earnings of $60,000. Joaquin's 2018 total self-employment withholding is: $…
Sky Company employed Tom Mills in Year 1. Tom earned $5,100 per month and worked the entire year. Assume the Social Security tax rate is 6 percent for the first $130,000 of earnings, and the Medicare tax rate is 1.5 percent. Tom's federal income tax withholding amount is $890 per month. Use 5.4 percent for the state unemployment tax rate and 0.6 percent for the federal unemployment tax rate on the first $7,000 of earnings per employee A: Total Employer Payroll Tax January - $ February- $ March- $ December - $ Assume that instead of $5, 100 per month Tom earned $11,500 per month. Based on this new level of income Tom's new federal income tax withholding is $2,200. What is Tom's net pay? B: Net Pay January to November - $ December - $ C: FICA Payroll Tax January to November - $ December - $ Assume that instead of $5,100 per month Tom earned $11,500 per month. Based on this new level of income Tom's new federal income tax withholding is $2,200. Total Employer Payroll Tax January - $…
Kenneth McFarland's weekly gross earnings for the week ending March 9 were $2,170, and her federal income tax withholding was $390.60. Assuming the social security tax rate is 6% and Mcdicarc tax is 1.5% of all carnings, what is McFarland's net pay? If required, round your answer to two decimal places.
Sky Company employed Tom Mills in Year 1. Tom earned $5,300 per month and worked the entire year. Assume the Social Security tax rate is 6 percent for the first $110,000 of earnings, and the Medicare tax rate is 1.5 percent. Tom's federal income tax withholding amount is $940 per month. Use 5.4 percent for the state unemployment tax rate and 0.6 percent for the federal unemployment tax rate on the first $7,000 of earnings per employee. b. Assume that instead of $5,300 per month Tom earned $9,700 per month. Answer the following questions. What is Tom's net pay per month? What amount does Tom pay monthly in FICA payroll taxes? What is the total payroll tax expense for Sky Company for January Year 1? February Year 1? March Year 1? December Year 1?
Sky Company employed Tom Mills in Year 1. Tom earned $5,800 per month and worked the entire year. Assume the Social Security tax rate is 6 percent for the first $130,000 of earnings, and the Medicare tax rate is 1.5 percent. Tom's federal income tax withholding amount is $920 per month. Use 5.4 percent for the state unemployment tax rate and 0.6 percent for the federal unemployment tax rate on the first $7,000 of earnings per employee. Required a. Answer the following questions: 1. What is Tom's net pay per month? 2. What amount does Tom pay monthly in FICA taxes? 3. What is the total payroll tax expense for Sky Company for January, Year 1? February, Year 1? March, Year 1? December, Year 1? b. Assume that instead of $5,800 per month Tom earned $11,300 per month. Based on this new level of income Tom's new federal income tax withholding is $2,200. Answer the following questions. 1. What is Tom's net pay per month? 2. What amount does Tom pay monthly in FICA payroll taxes? 3. What is the…
Baker Green's weekly gross earnings for the week ending December 7 were $1,800, and her federal income tax withholding was $216. Prior to this week Green had earned $98,000 for the year. Assuming the social security rate is 6.0% and Medicare is 1.5%, what is Green's net pay? Round your answer to the nearest whole dollar.$___________