Record the entry to record semimonthly payroll expenses for the period ending 10
ID: 2438129 • Letter: R
Question
Record the entry to record semimonthly payroll expenses for the period ending 10/15. Show all calcualtions. I've already got the other entries figured out. Stuck on only the FUTA/SUTA. Thx
SUTA is .026 of 1st 33,100 of wages.
FUTA is .006 of 1st 7k of wages.
Run Date 10/15/2017 Company Name: Wayland Custom Woodworking PIR Date 10/20/2017 Taxabl Taxable 0 Regular Overtime Holiday Commissions Hours 0 #of[ WIH Rate Gross Name Ms Hourly Wages for FICA Hours Hours Earnings 401(k) Insurance Wages for Anthony Chinson os 1,500.002,500.00 $75.0050.00 11.53846 36.05769 7 20.91346 20.19231 423.79808 17.30769 80.00 80.00 80.00 80.00 80.00 2,375.00 2,450.00 3,125.00 187.50 75.00 2,862.50 3,050.00 75.00 1,687.50 1,737.50 50.001,733.381,807.69 75.00 1,953.52 2,016.26 50.00 1,343.44 1,386.54 11.955 34 12447.99 ia 1,812.5050.00 1,857.69 74.31 2,091.26 62.74 1,436.54 43.10 Peppinico Stevon Leonard Student F Success Totals Taxable Taxable Federal SecurityWH Wages for Wages for WH Federal FICA WIH 12.82299 492.65 $375.00 Socia Medicare State W/H Net Pay Check No Gross Name Earning ?? 35.53 118.751.830.80 Chinson 2,450,00 $238.03 2,500.00 2,375.00 2,450.00 3,125.00 2,862.50 3,050.00209.88189.10 1,812.50 1,687.501,737.50 1,857.691,733.381,807.69116.47 112.08 2,091.26 1,953.52 2,016.26 157.95125.0 1,436.541,343.44 1,386.54 142.4085.97 1,830.80174556 ar 44.23 129.59 2,289.71 174557 45.56 1,494.43174558 73.45 1405.17174559 8.57 1,554.76174560 63.14 1,031.83174561 14.59 107.73 Peppinico Stevon Varden Leonard Hisso Student F Success 26.21 29.24 $879.32 180.50 517.069.60670 12,822.99 11,955.34 12,447.99Explanation / Answer
SUTA Gross Wages $12,822.99 Rate 2.60% SUTA $333.40 FUTA Gross wages $12,823 Rate 0.60% FUTA $76.94 FUTA and SUTA is on employees wages upto a limit of $7000 and $33,100 respectively It is assumed that none of the employee earned more than $7000 this year. FUTA and SUTA are paid by employer.
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