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DEVRY ACCT 216 Week 7 Homework a

DEVRY ACCT 216 Week 7 Homework a Check this A+ tutorial guideline at http://www.homeworkrank.com/acct-216/acct-216-week-7-homework-a

DEVRY ACCT 216 Week 7 Homework a

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<strong>DEVRY</strong> <strong>ACCT</strong> <strong>216</strong> <strong>Week</strong> 7 <strong>Homework</strong> a<br />

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<strong>216</strong>/acct-<strong>216</strong>-week-7-homework-a<br />

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Please write a 4-6 sentence paragraph on the following questions.<br />

a.What is the difference between an exempt and non-exempt employee?<br />

b.How would you decide whether to hire someone as an employee or independent<br />

contractor?<br />

2.Cindy Lou makes $30,000 per year as an exempt employee. She worked 15 hours of<br />

overtime in the month of September.<br />

Payday for wages earned in the month of September is October 7. Ignoring Federal<br />

and State income tax withholdings, how much<br />

would she receive for September net of Social Security and Medicare taxes? What<br />

journal entry would be made on September 30 for wages owed to Cindy?<br />

What journal entry would be made when she is paid on October 7?

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