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

question 32

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% on maximum of $100,000;and Medicare tax rate,1.5% on all earnings;state unemployment compensation tax,3.4% on the first $7,000;federal unemployment compensation tax,.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:

Drugs

Drugs are substances used to prevent, treat, or diagnose a disease or to enhance physical or mental well-being.

Transporting

The action of carrying or moving people or goods from one place to another by means of a vehicle, aircraft, or vessel.

Dosing

Dosing refers to the controlled administration of a drug or medication in specified amounts and at specified intervals.

Bloodstream

The system of blood flowing throughout the body, delivering oxygen and nutrients while removing waste products.