Betsy strand’s regular hourly wage rate is $14, and she receives an hourly rate of $21 for work in excess of 40 hours. during a january pay period, betsy works 48 hours. betsy’s federal income tax withholding is $89, and she has no voluntary deductions.

compute betsy strand’s gross earnings and net pay for the pay period. assume that the fica tax rate is 7.65%. (round answers to 2 decimal places, e. g. 15.25.)
and prepare the employer’s journal entries to record (a) betsy’s pay for the period and (b) the payment of betsy’s wages. use january 15 for the end of the pay period and the payment date. (round answers to 2 decimal places, e. g. 15.25. credit account titles are automatically indented when amount is entered. do not indent manually.)

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.