DEVRY ACCT 216 Week 7 Homework a
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Please write a 4-6 sentence paragraph on the following questions.
a.What is the difference between an exempt and non-exempt employee?
b.How would you decide whether to hire someone as an employee or independent
contractor?
2.Cindy Lou makes $30,000 per year as an exempt employee. She worked 15 hours of
overtime in the month of September.
Payday for wages earned in the month of September is October 7. Ignoring Federal
and State income tax withholdings, how much
would she receive for September net of Social Security and Medicare taxes? What
journal entry would be made on September 30 for wages owed to Cindy?
What journal entry would be made when she is paid on October 7?