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Chapter 6 Homework Page 10

Chapter 6 Homework Page 10 - DATE alifln NAME Dust!“...

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Unformatted text preview: DATE alifln NAME Dust!“ Iajlw 6-12A LO 6. Kelsey Gunn is the only employee of Arsenault Company. His pay rate is $23.00 per hour with an overtime rate of 11/2 times for hours over 40 in a workweek. For the week ending March 31, 20v, he worked 48 hours. Calculate his gross pay for the week using the overtime premium approach to calculate the overtime pay. I. Regularpay ......................................... $ lll‘D’i-{X} ll. Overtime premium pay ....................... $ 3 7, ~ 0“ I. Gross pay ............................................ 53 I , 13 b. 00 d. Adjusting entry Since the company holds back one week of pay, Gunn will not be paid until April 7, 20—. What adjusting entry would the com— pany make in order to record Gunn’s salary in the first quarter of this year? JOURNAL DATE DESCRIPTION F323; DEBIT CREDIT 1 Marc». 3i Salon“ E“ 1’9““; l l <H300 i 2 303N235 f’mmm I I woo 2 6-13A LO 2. In Oregon, employers who are covered by the state workers’ com— pensation law withhold employee contributions from the wages of covered employees at the rate of 2.8¢ for each hour or part of an hour that the worker is employed. Every covered employer is also assessed 2.8¢ per hour for each worker employed for each hour or part of an hour. The employer—employee contributions for workers’ compensation are collected monthly, quarterly, or annually by the employer’s insurance carrier, according to a schedule agreed upon by the employer and the carrier. The insur— ance carrier remits the contributions to the state’s W/orkersa Com— pensation Department. Cortez Company, a covered employer in Oregon, turns over the employer—employee workers’ compensation contributions to month. During the month of July, the number of Full—time em— ployee—hours worked by the company’s employees was 8,270; the number of part—time employee—hours was 1,950. a. The amount the company should have withheld from its fiill— and part—time employees during the month of July for workers’ compensation insurance is ............... $ Fiegla‘llp h. The title you would give to the general ledger liability account to which the amount withheld from the employees’ earnings would be credited is: meUS pm 0 r wk \Ai irklwlrl? ¢. Journalize the entry on July 31 to record the employer’s liability for workers’ compensation insurance for the its insurance carrier by the 15th of each month for the preceding month. JOURNAL DATE DESCRIPTION PSESFT' DEBIT l CREDIT 1 111 3‘ Ww‘Km—f) CBV‘E- Iflfiu‘meL-fl E‘fFMS'C 2 x (9 Hal 1 2 ”DIV-en") COWQ \ Qkfiww*§ mi+\,\’\/\Q\ J\ ‘ Z 3 L Ho 2 l l 6-43 ...
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