Reference no: EM131083018
MARITAL STATUS NO. OF W/H ALLOW. REGULAR EARNINGS OVERTIME EARNINGS DEDUCTIONS
HOURS WORKED RATE PER HOUR HOURS WORKED RATE PER HOUR
TOTAL FICA GROUP HEALTH
EMPLOYEE AMOUNT AMOUNT EARNINGS OASDI HI FIT SIT SUTA CIT SIMPLE INSURANCE INSURANCE
11 Carson, Fran M. S 1 40 $7.50 300.00 300.00 18.60 4.35 9.21 9.00
12 Wilson, William A. S 0 40 $7.25 290.00 8 $10.88 87.04 377.04 23.38 5.47 11.58 11.31
13 Utley, Harry T. M 2 37.5 $8.10 303.75 303.75 18.83 4.40 - 9.33 9.11
21 Fife, Lawrence R. M 4 40 $7.90 316.00 6 $11.85 71.10 387.10 24.00 5.61 - 11.88 11.61
22 Smith, Lucy K. S 2 40 $9.75 390.00 390.00 24.18 5.66 11.97 11.70
31 Fay, Gretchen R. M 3 40 515.00 1.25 $19.33 24.15 539.15 33.43 7.82 16.55 16.17
32 Robey, Glenda B. M 6 40 392.31 392.31 24.32 5.69 - 12.04 11.77
33 Schork, Thomas K. S 1 40 542.31 542.31 33.62 7.86 16.65 16.27
51 Hardy, Barbara T. M 5 40 348.46 4 $13.07 52.28 400.74 24.85 5.81 - 12.30 12.02
99 Kipley, Carson C. M 7 40 1,000.00 1,000.00 62.00 14.50 30.70 30.00
Totals 4,397.83 234.57 4,632.40 287.21 67.17 142.21 138.96
You will now compute the employer's liability for unemployment taxes (FUTA and SUTA) for the pay of January 14. These computations will be used at the end of Chapter 6 in recording the payroll tax entries.
To compute the employer's liability for unemployment taxes, proceed as follows:
1. Enter each employee's gross earnings in the Taxable Earnings' FUTA and SUTA columns.
2. Total the Taxable Earnings' FUTA and SUTA columns.
3. At the bottom of your payroll register, compute the following
a. Net FUTA tax. Since this is the first pay period of the year, none of the employees are near the $7,000 ceiling; therefore, each employee's gross earnings is subject to the FUTA tax.
b. SUTA tax. Since Kipley Company is a new employer, Pennsylvania has assigned the company a contribution rate of 3.703% on the first $8,000 of each employee's.
|
Integrated marketing communications brief
: Please select a brand that has a brand problem. For example, recent player legal troubles have been a problem for the NFL brand. Another example is the Bonefish Grill, the country's second largest seafood chain after Red Lobster. Although their ch..
|
|
Lockbox system to reduce the firms collection times
: It takes Cookie Cutter Modular Homes, Inc., about six days to receive and deposit checks from customers. Cookie Cutter’s management is considering a lockbox system to reduce the firm’s collection times. What is the maximum monthly charge Cookie Cutte..
|
|
Prepare a schedule to compute expected cash collections
: Prepare a schedule to compute expected cash collections for the month of May and Prepare a schedule to compute expected cash payments for the month of May
|
|
Meeting of equity shareholders
: Equity Company and Faye enter into a contract for Faye to cater a meeting of Equity's shareholders. When Faye's schedule conflicts, she asks Gudren to serve Faye's coffee and pastries at the meeting. This transfer of duties is
|
|
Compute the employers liability for unemployment taxes
: You will now compute the employer's liability for unemployment taxes (FUTA and SUTA) for the pay of January 14. These computations will be used at the end of Chapter 6 in recording the payroll tax entries.
|
|
Average collection-what is effective cost of borrowing
: Your firm has an average collection period of 23 days. Current practice is to factor all receivables immediately at a discount of 1.3 percent. What is the effective cost of borrowing in this case?
|
|
Provide company information and type of projects
: 1) Please provide company information and type of projects you are part of. 2) Your role in the project?
|
|
How much does the glass of water weigh (n) now
: How much does the glass of water weigh (N) now?
|
|
Expectation to be consistent with the CAMP
: You are thinking of buying a stock priced at $100 per share. Assume that the risk-free rate is about 4% and the market risk premium is 6%. If you think the stock will rise to $115 per share by the end of the year, at which time it will pay $1 dividen..
|