An Employee Receives an Hourly Rate of $15,with Time and a Half

question 54

Essay

An employee receives an hourly rate of $15,with time and a half for all hours worked in excess of 40 during the week.Payroll data for the current week are as follows: hours worked,46; federal income tax withheld,$120; cumulative earnings for the year prior to this week,$5,500; Social security tax rate,6%; and Medicare tax rate,1.5%; state unemployment compensation tax,3.4% on the first $7,000; federal unemployment compensation tax,0.8% on the first $7,000.Prepare the journal entries to record the salaries expense and the employer payroll tax expense.

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Definitions:

Light-activated Kinases

Enzymes that become active in response to light exposure and play important roles in various biological signaling pathways.

Gravitropism

A biological phenomenon where plants orient their growth in response to gravity.

Gravity

A fundamental force of attraction that pulls objects toward each other, with its strength depending on the masses of the objects and the distance between them.

Cognitive Development

Refers to the process by which individuals learn and grow in terms of their thinking, reasoning, and understanding as they age.