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| Teaching Since: | May 2017 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Hira Hardware has four employees who are paid on an hourly basis plus time-and-a half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15, 2012, are presented below.
Hana and Alina are married. They claim 0 and 4 withholding allowances, respectively. The following tax rates are applicable: FICA 8%, state income taxes 3%, state unemployment taxes 5.4%, and federal unemployment 0.8%.
Instructions
(a) Prepare a payroll register for the weekly payroll. (Use the wage-bracket withholding table in the text for federal income tax withholdings.)
(b) Journalize the payroll on March 15, 2012, and the accrual of employer payroll taxes.
(c) Journalize the payment of the payroll on March 16, 2012.
(d) Journalize the deposit in a Federal Reserve bank on March 31, 2012, of the FICA and federal income taxes payable to thegovernment.
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