Recent orders
Payroll Acct -3
3–2A.
OASDI HI
(a) 9th paycheck…………………………………………………………..
(b) 17th paycheck [$113,700 – ($6,800 × 16 pays) =
$4,900 OASDI taxable]……………………………………..
(c) 24th paycheck…………………………………………………………
Ken works at a dinner club. On FEb 7th his gross pay was $800 (3 days working 1 paid vacation day and 1 paid sick day). He also reported employuer tips of $900 for the previous month (applicable taxes to be deducted out of this pay). Ken belongs to the company’s 401K pland has 5% of his gross pay $800 deducted each week (salary reduction). The Dinner Club also provides matching contributions ($40) into the plan for Gorman.
$3–4A.
(a) $800 + $900 =
(b) $800 + $900 =
Audrey and Beth are partners in the Country Gift Shop, which employs the individuals listed below. Paychecks are distributed every Friday to all employees. Based on the info given compute the amounts listed below for a weekly payroll period.
3–6A.
Name and Position | Salary | OASDI Taxable Earnings | OASDI Tax | HI Taxable Earnings | HI Tax |
| Zena Vertin, Office | $ 535 per week | ||||
| Nicole Norge, Sales | 2,980 per month | ||||
| Bob Mert, Delivery | 485 per week | ||||
| Audrey Martin, Partner | 950 per week* | ||||
| Beth James, Partner | 950 per week* | ||||
| Totals |
Employer’s OASDI Tax
Employer’s HI Tax
*The $950 that each partner receives each week is considered a drawing or withdrawal, not a salary payment.
Ralph was paid salary of $64,600 during 2014 by Odesto Company. In addition, during the year Ralph started his own business as a public accountant and reported a net bsuiness income of $60,000 on his income tax returns for 2014. Compute the following:
3–8A.
(a) The amount of FICA taxes that was withheld from OASDI __
his earnings during 2014 by Odesto Company. HI ___
(b) Henwood’s self-employment taxes (will receive a credit on his
federal income tax return for these paid taxes) on the income
derived from the public accounting business for 2014.
[$XX,XXX taxable ($113,700 – $64,600) × 0.124] OASDI __ ($XX,XXX taxable × 0.029) HI ____
The monthly and hourly wage schedule for the employees of Quirk Inc. follows. No employees are due overtime pay. Compute the following for the last monthly pay of the year :
a) The total wages of each part time employee for December 2014;
b) The OASDI and HI taxable wages for each employee;
c) The FICA taxes withheld from each employee’s wages for December;
d) Totals of columns;
e) The employer’s FICA taxes for the month.
3–10A.
Employees | Total Monthly Payroll | OASDI Taxable Wages | HI Taxable Wages | OASDI Tax | HI Tax | ||
| Full-Time Office: | |||||||
| Adaiar, Gene………………………………………………………………. | $ 1,400.00 | ||||||
| Crup, Jason……………………………………………………………….. | 1,300.00 | ||||||
| Essex, Joan……………………………………………………………….. | 1,975.00 | ||||||
| Garza, Irma………………………………………………………………… | 1,985.00 | ||||||
| Leason, Mel……………………………………………………………….. | 1,900.00 | ||||||
| Pruit, Marne……………………………………………………………….. | 7,000.00 | ||||||
| Rubble, Deanne………………………………………………………….. | 2,400.00 | ||||||
| Simpson, Dick……………………………………………………………. | 3,985.00 | ||||||
| Truap, Ann…………………………………………………………………. | 5,000.00 | ||||||
| Wilson, Trudy……………………………………………………………… | 1,500.00 | ||||||
Part-Time Office: | Hours Worked | Hourly Rate | Total Monthly | ||||
| Kyle, Judy………………………. | 170 | $ 8.25 | |||||
| Laird, Sharon…………………… | 170 | 8.35 | |||||
| Maxwell, Sara…………………… | 140 | 10.10 | |||||
| Nelson, Donna…………………. | 145 | 8.20 | |||||
| Scott, Kim………………………. | 162 | 9.65 | |||||
| Totals…………………….. |
Employer’s FICA taxes OASDI HI
Volcan Co. is a monthly depositor whose tax liability for March 2014 is $2505. (Use the IRS 941 Form) attached.
3–16A.
1. Due Date to be filed:
2. (a) Penalty for failure to make timely deposit (17 days late):
$X,XXX × 10%…………………………………………………………………………
(b) Penalty for failure to fully pay tax: $X,XXX × 1/2%………………….
(c) Interest on taxes due and unpaid:……………………………………
(d) Total penalty imposed……………………………………………………………..
Case Study 3
Select one of the following case studies (located in your textbook):
Then complete the following:
•Add your opinion about the choices and decisions being made—if this was your company would you make this choice?
•What would you do differently?
CASE 4-1 WALMART’S EVERYDAY HIRING STRATEGY: FUELING FUTURE CONSUMER DEMAND WITH PASSION AND TALENT
CASE 4-2 GAUGING EMPLOYMENT AT HONEYWELL
CASE 5-1 HERE A GM, THERE A GM, EVERYWHERE A GM (OR SO THEY THOUGHT!)
CASE 5-2 TRYING TO BUILD WHEN NOBODY WANTS TO WORK
CASE 6-1 A KINK IN LINKS OF LONDON’S SELECTION PROCESS
CASE 6-2 NOT GETTING FACE TIME AT FACEBOOK—AND GETTING THE LAST LAUGH!
Apply: Illegal Hiring Incident Analysis
Read Ch. 2, Incident 2, “Illegal Hiring.”
Write a 700- to 1,050-word analysis of the incident, “Illegal Hiring.” Include the following in preparing your response:
- Identify what role HR should play as a strategic business partner in addressing this incident.
- Summarize what you would have done in response to learning about the facts in this incident.
- Discuss what factors in this incident might influence a company to make less-than-ethical decisions.
- Summarize a brief policy that would help an organization like the one in “Illegal Hiring” make sound and legal hiring decisions within the framework of the law and support a culture of diversity and inclusion.
Illegal Hiring Incident 2
The Foreign Corrupt Practices Act (FCPA) prohibits U.S. companies from bribing foreign officials; yet, the number of violations each year is staggering. Some violations center on the use of unethical HR practices. For example, the banking industry has been investigated for its internship and full-time employment hiring practices. The Bank of New York Mellon Corp. (BNY Mellon) gave internships to family members of foreign government officials. The bank’s leadership intended to maintain or increase business with a Middle Eastern sovereign wealth fund. Internship programs are legal and BNY Mellon has a legitimate internship program, but these internships were awarded outside the accepted procedures and criteria used in its program. The U.S. SEC issued a cease-and-desist order, stating that “Delivering them [internships] ‘was seen by certain relevant [bank] employees as a way to influence the officials’ decisions.” This is the first cease-and-desist order of which internship hiring was the subject. Phillip Bezanson, a Bracewell & Giuliani Law LLP (firm) partner stated that “the concept of ‘anything of value’ under the FCPA can be ‘really abstract.’. . .” In the end, the bank agreed to pay a $5 million penalty, give up $8.3 million, and pay $1.5 million in interest.