Exam 6: Analyzing and Journalizing Payroll

Carmen Gaetano worked 46 hours during this payweek.He is paid time-and-a-half for hours over 40 and his pay rate is $17.90/hour.What was his overtime premium pay for this workweek?

The garnishment that takes priority over all others is :​

Tips received by employees are not included as disposable earnings subject to garnishment

FICA Taxes Payable-OASDI is a liability account debited for the employer's portion of the FICA tax.

If employees must contribute to the state unemployment fund,this deduction should be shown in the payroll tax entry.

Exhibit 6-1 The totals from the first payroll of the year are shown below. -Refer to Exhibit 6-1.Journalize the entry to record the employer's payroll taxes (assume a SUTA rate of 3.7%).

An employee's marital status and number of withholding allowances never appear on the payroll register.

A debit to the employees FIT payable account removes the liability for the amount of federal income taxes withheld from employees' wages.

FIT Payable is a liability account used to record employees' withheld federal income tax and also the employer's match of that tax.

An employer will use the payroll register to keep track of an employee's accumulated wages.

The FICA taxes on the employer represent both business expenses and liabilities of the employer.

FUTA Taxes Payable is an expense account in which are recorded the employer's federal unemployment taxes.

Union Dues Payable is a liability account credited with the deductions made from union members' wages for their union dues.

Each payday,the total of net pays that the employer incurs is the wage expense that must be debited.