Homework: Chapter 11 HW Score: 0 of 4 pts 3 of 6 (2 oomplete) Hw Score: 24%, 6 o

Question

Homework: Chapter 11 HW Score: 0 of 4 pts 3 of 6 (2 oomplete) Hw Score: 24%, 6 of 25 pts E11-18 (similar to) Question Help Holden Sully manages a Frosty 1(Click the loon to view payroll tax rate information.) World drive-in. His straightl-time pay is $15 per hour, with Sime-and-a-half for hours in excess of 40 per wook Sully's payroll deductions contribution to Unitod Wry Sully worked 51 hours during the week Requirement 1. Compute Sully's gross pay and net pay for the week Assume earmings to date are $11,000. (Round all amounts to the nearest cent Begin by oomputing Sully's gross pay for the week tme pay for 40 hours 600.00 Overtime pay for 11 houn Gross Pay Choose from any list or enter any number in the input fields and then click Check Answer Clear All Check Answer MacBook Air 3 5 8 9

Explanation / Answer

1)

Sully's gross pay and Net pay

2)

Journal entry for wages expense accrual

3)

Journal entry for payment of Wages

S. No particulars    Notes $    $    1 Straight time pay 40 x 15 600 2 Overtime pay 11x1.5x15 247.5 3 Gross pay 847.5 4 Withholding Deductions : 5 Employee income tax 847.5 x 20% 169.5 6 Employee OASDI 847.5 x 6.2% 52.5 7 Employee medicare 847.5 x 1.45% 12 8 charitable contribution to united way 6 9 Total Withholding deductions (169.5+52.5+12+6) 240 10 Net pay (847.5-240) 607.5

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