Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. o 3. theodore simpson works for blair company all

O 3. Theodore Simpson works for Blair Company all year and earns a monthly salary...

90.2K

Verified Solution

Question

Accounting

image
image
O 3. Theodore Simpson works for Blair Company all year and earns a monthly salary of $4,000. There is no overtime pay. Based on Theodore's W-4, Blair withholde income taxes at 18% of his gross pay. As of July 31, Theodore had $28,000 of cumulative earnings Click the icon to view payroll tax rate information.) Journalize the accrual of salary expense for Blair Company related to the employment of Theodore Simpson for the month of August. (Record debits first, then credits. Round al amounts to the nearest cont. Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

1. What significant research in psychophysics was done during the 19th century that resulted in a...

Psychology
1.2K views

Q.1 Which of the following performance appraisal approaches would have dimensions such as \"Arrest procedures\" and...

Accounting
1.2K views

Plug Products owns 80 percent of the stock of Spark Filter Company, which it acquired at...

Biology
1.2K views

Which of the following structures serves as the site for protein synthesis O plasma membrane...

Physics
1.2K views

The velocity of the car is expressed as V x 4x 3 3 and its...

Statistics
1.2K views

For the month of October in a certain city 39 of the days are cloudy...

Algebra
1.2K views

The total cost in dollars to produce bins of cat food is given by C...

Algebra
1.2K views

Simplify the following expression All variables are nonzero 2 9 2 0 m 2m n...

Accounting
1.2K views

WSM Corporation is considering offering an air shuttle service between Sao Paulo and Rio de...

Accounting
1.2K views

6-26. Basic Cost Flow Model Fill in the missing items for the following inventories. T...

Accounting
1.2K views

In accounting, which of the following financial statements provides information about a company's profitability over...

Accounting
1.2K views

Exercise 6-17(Algo) Franchises; residual method [L06-6,6-7] Monitor Muffler sells franchise arrangements throughout the...