Calculate Betsy Strand gross earnings

Reference no: EM131830671

Question: Data for Betsy Strand are presented in problem. Prepare the employer's journal entries to record

(a) Betsy's pay for the period and

(b) the payment of Betsy's wages. Use January 15 for the end of the pay period and the payment date.

Problem: Betsy Strand's regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Betsy works 47 hours. Betsy's federal income tax withholding is $95, and she has no voluntary deductions. Compute Betsy Strand's gross earnings and net pay for the pay period. Assume that the FICA tax rate is 7.65%.

Reference no: EM131830671

Questions Cloud

Make the entry to record sales taxes payable and sales : Greenspan Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $10,388.

Would this regulation tend to strengthen cartels : Suppose there was a government regulation that set minimum prices. Would this regulation tend to strengthen cartels, weaken them, or have no effect?

Does cheating increase consumer surplus : Who gets the benefit when a cartel collapses through cheating: consumers or producers? Does this benefit usually show up in a lower price, a higher quantity?

Compute Betsy net pay for the pay period : Betsy's federal income tax withholding is $95, and she has no voluntary deductions. Compute Betsy Strand's gross earnings and net pay for the pay period.

Calculate Betsy Strand gross earnings : Betsy Strand's regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess of 40 hours.

What are two different explanations for similarity of price : Suppose you have a suit that needs altering, and you take it to three different tailors in the same mall to get an estimate of the cost of the alterations.

How management functions contributed to improve the business : BUMGT1501 Management Principles Assignment - Case Study Report. Identify and describe how the four management functions contributed to improve the business

Prepare the journal entry to record the sale of the bonds : Clooney Corporation issued 3,000 7%, 5-year, $1,000 bonds dated January 1, 2017, at face value. Interest is paid each January 1.

Write a program that reads a number and displays the square : Write a program that reads a number and displays the square, cube, and fourth power. Use the Math.pow method only for the fourth power.

User Account

All Pages