Following are some transactions and events of Business Solutions.
February The company paid cash to Lyn Addie for eight days' work at $ per day.
March The company sold merchandise with a $ cost for $ on credit to wildcat Services, invoice dated
March
Required:
Assume that Lyn Addie is an unmarried employee. Her $ of wages have deductions for FICA Social Security taxes, FICA
Medicare taxes, and federal income taxes. Her federal income taxes for this pay period total $ Compute her net pay for the
eight days' work paid on February
Record the journal entry to reflect the payroll payment to Lyn Addie as computed in part
Record the journal entry to reflect the employer payroll tax expenses for the February payroll payment. Assume Lyn Addie
has not met earnings limits for FUTA and SUTA the FUTA rate is and the SUTA rate is for the company
Record the entries for the merchandise sold on March if a sales tax rate applies.
Complete this question by entering your answers in the tabs below.
Required
Assume that Lyn Addie is an unmarried employee. Her $ of wages have deductions for FICA Social Security taxes, FICA
Medicare taxes, and federal income taxes. Her federal income taxes for this pay period total $ Compute her net pay for
the eight days' work paid on February
Note: Round your answer to decimal places. Do not round intermediate calculations.
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