Question computing and journalizing an employees total pay, Ask an Expert

Finance

Question: Computing and journalizing an employee's total pay Lucy Barber works at College of Portland and is paid $30 per hour for a 40-hour workweek and time-and-a-half for hours above 40.

Requirements: 1. Compute Barber's gross pay for working 62 hours during the first week of February.

2. Barber is single, and her income tax withholding is 10% of total pay. Barber's only payroll deductions---------------are payroll taxes. Compute Barber's net (take-home) pay for the week. Assume Barber's earnings to date are less than the OASDI limit.

3. Journalize the accrual of salaries and wages expense and the payments related to the employment of Lucy Barber.

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92647999

Have any Question?Write your Review or question?

Related Questions in Basic Finance

A financial system comprises financial institutions

A financial system comprises financial institutions, financial instruments and financial markets. In the context of the Australian financial system explain the role of each of the major regulators (the RBA, APRA, ACCC, a ...

What is the price of a 1000 par value bond with an 8 coupon

What is the price of a $1,000 par value bond with an 8% coupon rate paid semiannually, if the bond is priced to yield 4% and it has 15 years to maturity?

Discuss two types of costs amp two types of

Discuss two types of costs & two types of benefits(excluding tax shield and EPS) that would potentially arise from the leveraged recapitalization (a firm proposed a leveraged recapitalization which could create immediate ...

Matt johnson delivers newspapers and is putting away 15 at

Matt Johnson delivers newspapers and is putting away ?$15 at the end of each month from his paper route collections. Matt is 10 years old and will use the money when he goes to college in 8 years. What will be the value ...

The tucker family has health insurance coverage that pays

The Tucker family has health insurance coverage that pays 75 percent of out-of-hospital expenses after a deductible of $520 per person. If one family member has doctor and prescription medication expenses of $1,700, what ...

Question - find and read 2 articles about a recent merger

Question - Find and read 2 articles about a recent merger or acquisition. Write a paper of approximately 900 words for each article that answers the following questions: • What alternatives to the merger or acquisition m ...

Question - analyze cash budgets inventory management and

Question - Analyze Cash Budgets, Inventory Management and Accounts Receivables Instructions - Assume the role of a manufacturing financial controller where you are making a presentation to the board of directors. Create ...

Question - gj industries has 10 million shares of common

Question - GJ Industries has 10 million shares of common stock outstanding with a market price of $15.00 per share. The company also has outstanding preferred stock with a market value of $20 million, and 200,000 bonds o ...

How do core competencies align with the firm level strategy

How do core competencies align with the firm level strategy being used by firms in business? Provide examples.

How much would you pay for a share of preferred stock that

How much would you pay for a share of preferred stock that pays a $3.25 dividend and your required return for an investment of this kind is 7%?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Basic Finance Expert