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

question 137

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, 6.0%; 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:

Bilingual

The ability to speak and understand two languages fluently.

Monolingual

A person or system capable of using or understanding only one language.

Symbolic Structure

Internal and external systems of symbols, signs, and meanings that guide and structure human communication and understanding.

Morpheme Structure

The arrangement and composition of morphemes, which are the smallest grammatical units in a language, contributing to semantic meaning.