1. Business
  2. Accounting
  3. zolnick enterprises has two hourty employees kelly and jon both...

Question: zolnick enterprises has two hourty employees kelly and jon both...

Question details

Zolnick Enterprises has two hourty employees: Kelly and Jon. Both employees earn overtime at the rate of 18 times the hourly rate for hours worked in excess of 43 per week. Assume th are tax rate is 1.5 percent on all earnings. Federal income tax withheld for Kelly and Jon was $260 and $233, respectively. The following information is for the first week in January Year 1 $24 Required a. Calculate the gross pay for each employee for the week. b. Calculate the net pay for each employee for the week. c. Prepare the general journal entry to record payment of the wages. Complete this question by entering your answers in the tabs below. Req A and B | Req C Calculate the gross pay for each er Calculate the net pay for each employee for the week. (Round the intermediate calculations and your final answers to 2 decimal places.) Req Λ and B Req C>
Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution