Payroll 3 | Human Resource Management homework help


          

                   Ken works at a dinner club.  On FEb 7th his bulk pay was $800  (3 days inaugurated 1 hired recreation day and 1 hired corrupt day).  He besides reputed employuer tips of $900 for the anterior month (conducive taxes to be deducted out of this pay).  Ken belongs to the company's 401K contrivanced has 5% of his bulk pay $800 deducted each week (hire diminution).  The Dinner Club besides provides matching contributions ($40) into the contrivance for Gorman.

      

 

$3–4A.

(a)    $800 + $900 =

 

(b)    $800 + $900 =

 

Audrey and Beth are accomplices in the Country Gift Shop, which employs the beings listed adown.  Paychecks are distributed every Friday to all employees. Based on the info ardent abuse the wholes listed adown for a weekly payroll continuance.

 

3–6A.



Name and Position



Salary

OASDI
Taxable
Earnings


OASDI
Tax

HI
Taxable
Earnings


HI
Tax

Zena Vertin, Office

$    535  per week

 

 

 

 

Nicole Norge, Sales

    2,980  per month

 

 

 

 

Bob Mert, Delivery

       485  per week

 

 

 

 

Audrey Martin, Partner

       950  per week*

 

 

 

 

Beth James, Partner

       950  per week*

 

 

 

 

 

                   Totals

 

 

 

 

 

Employer’s OASDI Tax             

Employer’s HI Tax                    

 

*The $950 that each accomplice assent-tos each week is considered a intention or withholding, not a hire reimbursement.


Ralph was hired hire of $64,600 during 2014 by Odesto Company.  In observation, during the year Ralph established his own calling as a generally-known accountant and reputed a net bsuiness proceeds of $60,000 on his proceeds tax allowance for 2014.  Abuse the forthcoming: 

3–8A.

(a)   The whole of FICA taxes that was withheld from          OASDI  __                       

        his hues during 2014 by Odesto Company.              HI   ___    

 

(b)   Henwood’s self-employment taxes (conciliate assent-to a merit on his

        federal proceeds tax come-back for these hired taxes) on the proceeds

        derived from the generally-known accounting calling for 2014.

        [$XX,XXX taxable ($113,700 – $64,600) × 0.124]             OASDI   __                    ($XX,XXX taxable × 0.029)                                                         HI   ____                      

 

The monthly and hourly wage register for the employees of Quirk Inc. follows.  No employees are due overspell pay.  Abuse the forthcoming for the conclusive monthly pay of the year :

a) The completion allowance of each sever spell employee for December 2014;

b) The OASDI and HI taxable allowance for each employee;

c) The FICA taxes withheld from each employee's allowance for December;

d)  Totals of columns;

e)  The employer's FICA taxes for the month.

 

3–10A.



Employees

Total
Monthly
Payroll

OASDI
Taxable
Wages

HI
Taxable
Wages


OASDI
Tax


HI
Tax

Full-Time Office:

 

 

 

 

 

Adaiar, Gene.........................................................................

  $   1,400.00

 

 

 

 

Crup, Jason..........................................................................

       1,300.00

 

 

 

 

Essex, Joan..........................................................................

       1,975.00

 

 

 

 

Garza, Irma...........................................................................

       1,985.00

 

 

 

 

Leason, Mel..........................................................................

       1,900.00

 

 

 

 

Pruit, Marne..........................................................................

       7,000.00

 

 

 

 

Rubble, Deanne....................................................................

       2,400.00

 

 

 

 

Simpson, Dick......................................................................

       3,985.00

 

 

 

 

Truap, Ann............................................................................

       5,000.00

 

 

 

 

Wilson, Trudy........................................................................

       1,500.00

 

 

 

 



Part-Time Office:


Hours
Worked


Hourly
Rate


Total
Monthly

 

 

 

 

Kyle, Judy............................

170

    $  8.25

 

 

 

 

 

Laird, Sharon........................

170

        8.35

 

 

 

 

 

Maxwell, Sara........................

140

      10.10

 

 

 

 

 

Nelson, Donna......................

145

        8.20

 

 

 

 

 

Scott, Kim............................

162

        9.65

 

 

 

 

 

         Totals..........................

 

 

 

 

 

 

 

 

Employer’s FICA taxes              OASDI                                                  HI                                   

 

 

 
 

 Volcan Co. is a monthly guaranteeor whose tax amenability for March 2014 is $2505. (Use the IRS 941 Form) robust.

 

 

 

 

 

 

 

3–16A.

 

 

 

1.    Due Date to be filed:

 

 

 

2.    (a)   Penalty for need to create spellly guarantee (17 days deceased):

 

               $X,XXX × 10%....................................................................................                        

 

        (b)   Penalty for need to largely pay tax: $X,XXX × 1/2%......................                              

 

(c)   Interest on taxes due and unpaid:……………………………………

 

        (d)   Total pain imposed.......................................................................