Linda Kopecky’s regular hourly wage rate is $16, and she receives a wage of 1½ t

Question

Linda Kopecky’s regular hourly wage rate is $16, and she receives a wage of 1½ times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period, Linda worked 42 hours. Her gross earnings prior to the current week were $8,000. Linda is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $15.00 per week.

Record Linda’s pay, assuming she is an office computer operator

Account Titles and Explanation

Debit

Credit

Explanation / Answer

Wages expenses                    $688

FICA Taxes Payable                                    55.04

Federal Income Taxes Payable                  55.00

State Income Taxes Payable                       13.76

Insurance Payable                                      15.00

Wages Payable                                       549.2

(40 x $16) + (2 x $24) = $688

$688 x 8% = $55.04

**** $688 x 2% = $13.76

Joyce is married and claims three withholding allowances. So Federal Income Taxes Payable 55.00

Wages Payable         549.2

    Cash                       549.2

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