Question

Exercise 11-09 a-b Juli Garza's regular hourly wage rate is $14.50, and she receives a wage...

Exercise 11-09 a-b

Juli Garza's regular hourly wage rate is $14.50, 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, Juli worked 44 hours. Her gross earnings prior to the current week were $7,300. Juli is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $20 per week.

MARRIED Persons ― WEEKLY Payroll Period
(For Wages Paid through December 2017)

If the wages are ―

And the number of withholding allowances claimed is ―

At least

But less
than

0 1 2 3 4 5 6 7 8 9 10
The amount of income tax to be withheld is ―
500

510

34 27 19 11 4 0 0 0 0 0

0

510

520

35 28 20 12 5 0 0 0 0 0

0

520

530

37 29 21 13 6 0 0 0 0 0

0

530

540

38 30 22 14 7 0 0 0 0 0

0

540

550

40 31 23 15 8 0 0 0 0 0

0

550

560

41 32 24 16 9 1 0 0 0 0

0

560

570

43 33 25 17 10 2 0 0 0 0

0

570

580

44 34 26 18 11 3 0 0 0 0

0

580

590

46 35 27 19 12 4 0 0 0 0

0

590

600

47 36 28 20 13 5 0 0 0 0

0

600

610

49 38 29 21 14 6 0 0 0 0

0

610

620

50 39 30 22 15 7 0 0 0 0

0

620

630

52 41 31 23 16 8 1 0 0 0

0

630

640

53 42 32 24 17 9 2 0 0 0

0

640

650

55 44 33 25 18 10 3 0 0 0

0

650

660

56 45 34 26 19 11 4 0 0 0

0

660

670

58 47 35 27 20 12 5 0 0 0

0

670

680

59 48 37 28 21 13 6 0 0 0

0

680

690

61 50 38 29 22 14 7 0 0 0

0

690

700

62 51 40 30 23 15 8 0 0 0

0

Compute the following amounts for Juli’s wages for the current week. (Round FICA taxes, State income taxes and Net pay answers to 2 decimal places, e.g. 52.55.)
(1) Gross earnings. $enter a dollar amount
(2) FICA taxes. (Assume a 7.65% rate on maximum of $127,200.) $enter a dollar amount rounded to 2 decimal places
(3) Federal income taxes withheld. $enter a dollar amount
(4) State income taxes withheld. (Assume a 2.0% rate.) $enter a dollar amount rounded to 2 decimal places
(5) Net pay. $enter a dollar amount rounded to 2 decimal places

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Your answer is partially correct. Try again.
Record Juli’s pay. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.)

Account Titles and Explanation

Debit

Credit

enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount

Homework Answers

Answer #1

Ans:

1. gross earnings= Normal Wages+ overtime Wages

Normal Wages=40*14.50 =580

Overtime wages= (44-40)*1.5*14.50 = 4*1.5*14.50

=> 87

Gross Earnings= 580+87 = 667

2. FICA taxes= $667*7.65%

=> $51.02

3. Federal Income Tax Withheld= According to above table

=> 27

4. State income taxes= Gross Earnings* tax rate

=> $667*2.0%

=> $13.34

5. Net pay= Gross Earnings- FICA -federal Income Tax withheld-State income taxes

=> 667-51.02-27-13.34

=> $ 575.64

Journal Entry

Date Account title and explanation Debit($) Credit($)
Wages 667
FICA 51.02
Federal income tax withheld 27
State income taxes 13.34
Wages payable 575.64
( to record juli's pay)
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