Required informationPR 2-46 (Algo) Overtime Premiums and Fringe BenefitCosts; Airline (LO 2-1, 2-3, 2-5, 2-9, 2-10)[The following information applies to the questions displayed below.]Heartland Airways operates commuter flights in three states. Due to apolitical convention held in Topeka, the airline added several extraflights during a two-week period. Additional cabin crews were hiredon a temporary basis. However, rather than hiring additional flightattendants, the airline used its current attendants on overtime.Ushanti Gaines worked the following schedule on August 10. All ofGaines's flights on that day were extra flights that the airline wouldnot normally fly.Regular time: 2 round-trip flights between Topeka and St. Louis (8Overtime:1 one-way flight from Topeka to Kansas City (4 hours)Gaines earns $12 per hour and is paid time and a half when workingovertime. Fringe benefits cost the airline $4 per hour for any hourworked, regardless of whether it is a regular or overtime hour.PR 2-46 (Algo) Part 1: Compute the direct cost of compensatingGaines for her services...Required:1. Compute the direct cost of compensating Gaines for her services on the flight fromTopeka to Kansas City.Direct cost

Compute the direct cost of compensation Gaines for her services on the flight from Topeka to Kansas…

Answered: Required: 1. Compute the direct cost of…

Required: 1. Compute the direct cost of compensating Gaines for her services on the flight from Topeka to Kansas City. Direct cost

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter9: Payroll Accounting: Employer Taxes And Reports

Section: Chapter Questions

Problem 9SPB

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Required information Skip to question [The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Gross Pay through August 31 Gross Pay for September a. $ 6,400 $ 1,700 b. 2,700 2,800 c. 133,300 9,900 Compute BMX’s amounts for each of these four taxes as applied to the employee’s gross earnings for September under each of three separate situations (a), (b), and (c). Note: Round your answers to 2 decimal places.
Required information [The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $127,200 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 3.1% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. Gross Pay through August 31 $ 6,400 Gross Pay for September 800 а. b. 2,000 120,900 2,100 8,000 C. ssuming situation a, prepare the employer's September 30 journal entries to record salary expense and its related payroll liabiliti this employee. The employee's federal income taxes withheld by the employer are $80 for this pay period. Complete this question by entering your answers in the tabs below. Employee Paid Таxes General Journal Assuming situation a, calculate the employee-paid taxes. The employee's federal income taxes withheld by the employer are $80 for this pay period. (Round your answers to 2 decimal places.) Taxes to be Withheld…
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Required Information [The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. செ Gross Pay through August 31 Gross Pay for September $ 6,800 2,400 131,800 $ 700 2.500 8.400 Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September under each of three separate situations (a), (b), and (c). Note: Round your answers to 2 decimal places. a) Tax September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA b) September Earnings Tax Tax Rate Tax Amount Subject to Tax FICA-Social Security FICA-Medicare FUTA BUTA
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Required information [The following information applies to the questions displayed below] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $127,200 paid to its employee, and Medicare taxes are 145% of gross pay. For BMX, its FUTA taxes are 3.1% and SUTA taxes are 2.9% of the first $7,000 to its employee. Gross Pay through August 31 6,400 Gross Pay for September 800 a. b. 2,000 120,900 2,100 8,000 C. suming situation a, prepare the employer's September 30 journal entries to record the employer's payroll taxes expense ated liabilities. Complete this question by entering your answers in the tabs below. General Employer ayroll Taxes Journal ssuming situation a, calculate the employer's payroll taxes expense. (Round your answers to 2 decimal places.) September earnings subject to tax mployer Payroll taxes Tax Rate Tax Amount General Journal Employer Payroll Taxes
Required information [The following information applies to the questions displayed below.] A local theater company sells 1,650 season ticket packages at a price of $320 per package. The first show in the 10-show season starts this week. (a) The sale of the season tickets before the first show. (b) The revenue from fulfilling the performance obligation by putting on the first show. 1. Indicate the effects of the amounts for the above transactions. (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign.) Assets Liabilities Stockholders' Equity (a) (b)
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