Brovo Zulu is an employee of Alpha Company. Alpha Company pays employees the friday after wages are earned. Overtime in excess of 40 hours must be paid at 150% of the normal hourly rate
Brovo Zulu is an employee of Alpha Company. Alpha Company pays employees the friday after wages are earned.
Overtime in excess of 40 hours must be paid at 150% of the normal hourly rate. Social Security taxes for this problem are 6% and medicare taxes are 1.5%. The federal unemployment tax rate is 1.2% and the state unemployement tax rate is 4.5%. Bravo;s wages, including the current pay period, will not exceed the limits for social security, Medicare and unemployement taxes. Bravo earns $15 per hour and worked 51 hours for the week ended January 26, 2018. Alpha will withhold $210 federal income taxes. Prepare the general journal entries to accrue alphas:
a. payroll expense for Bravo Zulu
b. payroll tax liabilities for January 26, 2018 for Bravo Zulu
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"
