50.1K

Verified Solution

Link Copied!

Please explain

Crane Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended March 15, 2022, are presented below. Abel and Hager are married. They claim 0 and 4 withholding allowances, respectively. The following tax rates are applicable: FICA 7.65%, state income taxes 3\%, state unemployment taxes 5.4\%, and federal unemployment 0.6%. Prepafe ajpayroll register for the weekly payroll No employee has neached the Social Security limit of $132. 90 on the Earnings Rita Hager 43 Jack Never 45 Sue Perez 47 Totals CRANE HARDWARE Payroll Register For the Week Ending March 15, 2022 Deductions United Fund Journalize the payroll on March 15, 2022, and the accrual of employer payroll taxes. (Round answers to 2 decimal places, e.g. 15.25. Credit account titles are automatically indented when omount is entered. Do not indent manually.) Journalize the payment of the payr oll on Manch 16, 2022. (Round answers to 2 decimal places, e.g. 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Journalize the deposit in a Federal Reserve bank on March 31,2022, of the FICA and federal income taxes payable to the government. (Round answers to 2 decimal places, e.g. 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Answer & Explanation Solved by verified expert

See Answer