Determine the gross pay for the week

Assignment Help Accounting Basics
Reference no: EM132709371

Problem - Compute payroll - An employee earns $28 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 46 hours during the week. Assume that the FICA tax rate is 7.5% and that federal income tax of $200 was withheld.

Required -

a. Determine the gross pay for the week.

b. Determine the net pay for the week.

Reference no: EM132709371

Questions Cloud

Illustrate the effects on accounts and financial statements : The estimated amount of the current year's vacation pay is $432,000. Illustrate the effects on the accounts and financial statements of the adjustment
What role does a lack of self-reflection have on ethical : What role does a lack of self-reflection have on ethical or unethical conduct? How would you relate to the comment that "absolute power corrupts absolutely"?
Calculate the employer payroll taxes : Calculate the employer's payroll taxes, using the following rates: state unemployment, 4.3%; federal unemployment, 0.8%
Discuss the scientific research validating the techniques : Turning back the years (this topic focuses on some of the ways that individuals develop strategies to battle the process of aging and, by definition.
Determine the gross pay for the week : An employee earns $28 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Determine the gross pay for the week
What salvage values to use for the various assets : How do businesses determine what salvage values to use for their various assets? Are there "hard and fast" rules for salvage values?
What are some of the public health implications : One of the milestones of the Early Childhood period is when a child begins to attend school. One of the requirements for a child to enter public school in the.
Prepare the current liabilities section of the balance sheet : Zahn Inc. had accounts payable of $21,500 and accrued wages payable of $6,100. Prepare the Current Liabilities section of the balance sheet
How are the financial statements affected : How are the financial statements affected if they are not estimated? There are two types of current liabilities that must be estimated.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the expected rate of return of the market index

If the expected rate of return of the U.S. government T-bill is 0.08, what is the expected rate of return of the market index

  Calculate to the nearest penny what tax rate

Calculate to the nearest penny what tax rate per $100 of assessed valuation is required to generate a tax levy that will produce

  Use the high-low method to estimate next months

the grind company has been having some difficulties estimating its manufacturing overhead costs. in the past

  Find the estimated sales revenue for the coming month

ABC Company, Find the estimated operating income for the coming month. Find the estimated sales revenue for the coming month.

  Make financial statements including classified balance sheet

Preparing financial statements including a classified balance sheet in report form, preparing and posting closing entries, and preparing a post-closing.

  Discuss the role of internal audit in fraud prevention

Discuss the role of Internal Audit in Fraud prevention and detection (You should refer to relevant IIA Standards in your answer)

  Determine the length of cable run in feet

A telephone switchboard 100-pair cable can be made up either enameled wire or tinned wire. Determine the length of cable run in feet

  Prepare a list of reasons for the variance

As a three-person team, choose an activity that is commonly performed every day, such as taking a shower/bath, preparing a meal, or doing homework.

  Palmer company leased equipment to woods corporation

Collectibility of lease payments is reasonably predictable, and no important uncertainties surround the amount of costs yet to be incurred by the lessor.(Both the lessor and the lessee's accounting period ends on December 31)

  Jakes annunal compensation is 150000 what is the maximun

jakes annunal compensation is 150000. what is the maximun amount that jakes employer may contribute to a defined

  Make an argument for the type of pmo should adopt

How Compare and contrast the organizational cultures at Amazon and Google. Imagine if you were in charge of a project team at both companies

  Write a professional memo to client

Your client has been informed that an S corporation is a popular business form and wants to know more about it. Please write a professional memo to your client responding to his inquiry. Be sure to at least discuss the following items:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd