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An asterisk (*) will appear to the right of an incorrect entry.
a.
Earnings:
1. At regular rate
2. At overtime rate 80,000
3. Total earnings
Deductions:
4. Social security tax 32,400$
5. Medicare tax 8,100
6. Income tax withheld 135,000
7. Medical insurance 18,900
8. Union dues
9. Total deductions 201,150$
10. Net amount paid 338,850$
Accounts debited:
11. Factory Wages 285,000
12. Sales Salaries
13. Office Salaries 120,000
b.
Exercise 11-10
Name:
Section:
0%
[Key code here]
Answers are entered in the cells with gray backgrounds.
Score:
Key Code:
Instructions
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
a.
Earnings:
1. At regular rate
460,000$
2. At overtime rate 80,000
3. Total earnings
540,000$
Deductions:
4. Social security tax 32,400$
b.
285,000
135,000
120,000
32,400
8,100
c.
338,850
Factory Wages Expense
Office Salaries Expense
Social Security Tax Payable
Medicare Tax Payable
Sales Salaries Expense
Salaries Payable
Exercise 11-10
Name:
Solution
Section:
ON
Cells with non-gray backgrounds are protected and cannot be edited.
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
An asterisk (*) will appear to the right of an incorrect entry.
a.
Employer's Payroll Taxes:
Rate
Social security tax
Medicare tax
State unemp. tax
Federal unemp. tax
Total
b.
Amount
Subject to Tax
Tax
Exercise 11-11
Name:
Section:
0%
[Key code here]
Answers are entered in the cells with gray backgrounds.
Score:
Key Code:
Instructions
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
a.
Employer's Payroll Taxes:
Rate
Social security tax 6.0% 750,000$ 45,000$
Medicare tax 1.5% 750,000 11,250
b.
59,350
45,000
Cells with non-gray backgrounds are protected and cannot be edited.
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
Exercise 11-11
Name:
Solution
Section:
ON
Amount
Subject to Tax
Tax
Payroll Taxes Expense
Social Security Tax Payable
