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Question;Unit 8;[AC499: Bachelor's Capstone in Accounting];Unit 8;Assignment;KAPLAN);Nor UNIVERSITY;Instructions;Each Problem (1, 2, 3, and 4) is worth 10;points (40 Points total).;Submit your answers to the Unit 8 Dropbox in;a single properly formatted Excel Workbook file.;?;Use a separate tabin the single Excel document;for each problem.;?;Do not put all 4 problems on the same tab.;?;Be sure to rename each tab to indicate the;question number.;Your answer to this Assignment should be;submitted in a single Excel Workbook document.Question # 1;Charles Giles worked 46 hours during this;pay-week. He is paid time-and-a-half for hours over40 and his pay rate is $17.90/hour. What was his overtime premium pay;for this workweek?;Use the following information to;answer Questions 2, 3 & 4: The totals from the first payroll of the year are shown below.;Total Pay;=;$36,195.10;FICA/OASDI;=;$ 2,244.10;FICA/HI;=;$ 524.83;FIT W/H;=;$ 6,515.00;State Tax W/H;=;$ 361.95;Union Dues;=;$ 500.00;Net Pay;=;$26,049.22;Assume the;following tax rates;1.;* FICA tax2;OASDI on employees: 6.2%.;2.;FICA tax2;HI on employees: 1.45%.;3.;FIT withheld from employees.;4.;FICA tax2;OASDI on employers: 6.2%.;5.;FICA tax2;HI on employers: 1.45%.;6. Net FUTA tax: 0.6%.;7. SUTA tax: 3.7%.;Note ? Correction to the Textbook - 7KH= 111-1C4FifialKelQH1 P SS;1-1-I11A/KDUI-lin /N?OASDI expired on December 31, 2012. So, the;correct rate to apply is 6.2% for both the employee and the employer.;Unit 8;[AC499: Bachelor's Capstone in Accounting];Question # 2:Journalize the entry to record the payroll.;Question # 3: - MCA HARtHEHCIAV L6 [EP SS;1-141/311 URCB11(FIVEEWXP HOZ 8 7$?;rate of 3.7%).;Question # 4:Journalize the entry to deposit the FICA and FIT taxes.;Your answer to;this Assignment should be submitted in a single Excel Workbook document.;When you are;ready, you may submit your paper to the Unit 8 Dropbox.Note: Include your name in the filename of the Assignment.;Unit 8 Assignment Grading Rubric;Category/Description;Points Possible;Points Earned;Instructor;AdditionalComments (If;necessary);Questions;Correctly;solve each problem. Worth;10 points;each.;1- Compute overtime premium pay.;10;2- Journalize entry to recordpayroll.;10;10;3- Journalize entry to record;I-P SS 1-141/13Dt1 'MP? RV;10;4- Journalize the entry to depositthe FICA and;FIT taxes;Critical;Thinking & Analysis, APA;*;Points may;be deducted;Format/Grammar/Spelling;for;incorrect analysis,spelling, grammar, andformatting.;Late Penalty;*;Points may;be deductedfor late submission.;Final Score;40


Paper#38734 | Written in 18-Jul-2015

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