Carl Banks manages a Movie Drive-in. His straight-time pay is $15 per hour, with time-and-a-half...
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Accounting
Carl Banks manages a Movie Drive-in. His straight-time pay is $15 per hour, with time-and-a-half for hours in excess of 40 per week. Carls payroll deductions include withheld income tax of 20%. FICA tax (@7.65%), and weekly deduction of $10 for a charitable contribution to United Way. Carl worked 58 hours during the week. Compute Carls gross pay and net pay for the week. Assume earnings to date are $18,000. Journalize Movie Drive-In wage expense accrual for Carls work on December 31, 2021. An explanation is not required. Journalize the subsequent payment of wages to Stanley on January 3, 2022.
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