Question

analyze the following data and calculate bank reconciliation amy payroll accounts?

what hs paul larkins net pay for January?

F G H NOP #6: Analyze the following data and calculate the bank reconciliation and Payroll amounts The following information is available for Winston Company for the month ending lune 30, 2018 • Balance as per the bank statement is $11,240. • Balance as per books is $10,200 • Check #506 for $1,200 and check #510 for $900 were not shown on the June 30, bank statement. • A deposit in transit of $3,110 had not been received by the bank when the bank statement was generated. • A bank debit memo indicated an NSF check for $85 written by Peter Wynn to Winston Company on June 13. • A bank credit memo indicated a note collected by the bank of $2,100 and interest revenue of $55 on June 20. • The bank statement indicated service charges of $20. What is the adjusted book balance? Please show your calculations. Use the shaded text box below for your answer. (5pts) The adjusted book balance comes out to be $12,250. (Book balance, 10,200) Note receivable, 2,100)+(Interest revenue, 55)-(Bank service charges, 20) - (NSF check, 85)-(Adjusted book balance, $12,250) (Bank statement balance, 11,240) + (Deposit in transit+ 3,110) - (Check #506, 1,200) - (Check #510, 900) - (Adjusted bank balance, $12,250) Paul Larkin and Jim Smith are the only two employees of Texas Pipe Company. In January, 2018, Paul's gross pay was $5,500 and Jim's gross pay was $5,900. All earnings are subject to FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45% and Unemployment Tax rate of 6%. Each have voluntary deductions of $67.00 and $58.00 respectively and are subject to Federal Income Tax rate of 18% each. What is Paul Larkin's Net Pay for January? Please show your calculations. (5 pts) Paul Larkin's net pay for January is $3,789.25 calculated it by multiplying S5500 by the OASDT tax of 6.2%, Medicare Tax of 1.45% the Unemployment tax of 6, and the Federal Income Tax rate of 18%. Getting 330 for the OASDI, 341 for Medicare, 79.75 for Unemployment, and 990 for Federal Income Tax. From there i subtracted each of these from $5,500, and come up with $3,789.25 #4 #5 & #6