Answer Happy

An employee receives an hourly rate of $10, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the current weck are as follows hours worked, 46; federal income tax withheld, S100; cumulative carnings for the year prior to this week (before this week). $14,500; Social security tax rate. 6% on maximum of $100,000; and Medicare tax rate, 1.5% on all camnings, state unemployment compensation tax, 3.4% on the first 57,000, federal unemployment compensation tax, 8% on the first $9,000 1. What is the employee's gross earnings this period? 2. What is the net amount to be paid the employee? 3. Make the journal entry to record the employee's earings Dr. Cr 4. What is the employer's payroll tax expense? S. Make the journal entry to record the payroll tax expense. Dr. Cr. 6. What would the employer's payroll tax expense be if this were the first pay period of the year?