PT ProRakyat has the following data for the payroll for a given period. Salaries 2,600 Old-ages...
Homework Answers
| Account Titles | Debit | Credit |
|
Salaries |
$ 2,600.00 | |
|
Old-ages insurance withheld |
$ 100.00 | |
|
Medical benefits contribution withheld |
$ 30.00 | |
|
Income tax withheld |
$ 400.00 | |
|
State unemployment rate (2% x 2600) |
$ 52.00 | |
| Cash | $ 2,018.00 | |
| b) | ||
| Payroll Tax Expense | $ 52.00 | |
|
State unemployment rate (2% x 2600) |
$ 52.00 | |
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PT ProRakyat has the following data for the payroll for a
given period.
Salaries 2,600
Old-ages...
Journal entry worksheet 1 Record salaries and wages expense. Record payroll tax expense. Record salaries and...
Journal entry worksheet
1
Record salaries and wages expense.
Record payroll tax expense.
Record salaries and wage expense for fringe benefits provided
by the employer.
Alamar Petroleum Company offers its employees the option of contributing retirement funds up to 5% of their salaries, with the contribution being matched by Alamar. The company also pays 85% of medical and life insurance premiums. Deductions relating to these plans and other payroll information for the first biweekly payroll period of February are listed...
Summary Payroll Data In the following summary of data for a payroll period, some amounts have...
Summary Payroll Data In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings: 1. At regular rate 2. At overtime rate $67,700 3. Total earnings Deductions: 4. Social security tax 5. Medicare tax 6. Income tax withheld 7. Medical insurance 27,060 6,765 115,100 15,600 8. Union dues 9. Total deductions 167,000 10. Net amount paid $284,000 Accounts debited: 239,000 11. Factory Wages 12. Sales Salaries 13. Office Salaries 90,200 b. Journalize the entry...
Record payroll for the period ending April 18. Payroll: Sales Salaries 45,000 $ Office Salaries 10,000...
Record payroll for the period ending April 18. Payroll: Sales Salaries 45,000 $ Office Salaries 10,000 Total payroll 55,000 $ Salaries subject to payroll taxes: social security and Medicare 55,000 $ State and federal unemployment tax 18,000 Salaries subject to payroll taxes: Social security tax 6.0% Medicare tax 1.5% State unemployment compensation tax 5.4% Federal uneployment compensation tax 0.8% Employee deductions: Federal income tax withholdings 4,400 $ State income tax withholdings 1,200 Retirement contributions 2,600 Charitable contributions 600 1) Record...
In the following summary of data for a payroll period, some amounts have been intentionally omitted:...
In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings: $72,600 1. At regular rate 2. At overtime rate 3. Total earnings Deductions: 4. Social security tax 5. Medicare tax 29,040 6. Income tax withheld 7,260 123,400 16,700 7. Medical insurance 8. Union dues 9. Total deductions 179,000 305,000 10. Net amount paid Accounts debited: 11. Factory Wages 256,500 12. Sales Salaries 13. Office Salaries 96,800 a. Calculate the amounts omitted in lines...
Recording Payroll and Payroll Taxes Beamon Corporation had the following payroll for April: Officers' salaries Sales...
Recording Payroll and Payroll Taxes Beamon Corporation had the following payroll for April: Officers' salaries Sales salaries Federal income taxes withheld FICA taxes withheld Health insurance premiums withheld Union dues withheld Salarles (Included above) subject to federal unemployment taxes Salaries (included above) subject to state unemployment taxes $34,000 67,000 19,000 7.500 1.800 1.200 55.000 58.000 Required Prepare journal entries on April 30 to record: a. Accrual of the monthly payroll. b. Payment of the net payroll. c. Accrual of employer's...
Town Hodesvios due 13. The summary of the payroll for the monthly pay period ending July...
Town Hodesvios due 13. The summary of the payroll for the monthly pay period ending July 15 indicated the following: lot or silol Sales salaries $125,000 to ODES Federal income tax withheld 0 22 opib 32,300 Office salaries D oon 35,000 24 Point Medical insurance withheld 7,370 Social security tax withheld 9,600 Medicare tax withheld 2,400 Journalize the entries to record (a) the payroll and (b) the employer's payroll tax expense for the month. The state unemployment tax rate is...
In the following summary of data for a payroll period, some amounts have been intentionally omitted:...
In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings: 1. At regular rate ? 2. At overtime rate $52,900 3. Total earnings ? Deductions: 4. Social security tax 21,180 5. Medicare tax 5,295 6. Income tax withheld 89,900 7. Medical insurance 12,200 8. Union dues ? 9. Total deductions 131,000 10. Net amount paid 222,000 Accounts debited: 11. Factory Wages 187,100 12. Sales Salaries ? 13. Office Salaries 70,600 a. Calculate the...
The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries...
The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries $1,440,000 Social security tax withheld 86,400 Medicare tax withheld 21,600 Federal income tax withheld 288,000 In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.6%, respectively, on $244,000 of salaries. Required: A. Journalize the entry to record the payroll for the week of April 29.* B. Journalize the entry to record the payroll tax expense incurred for the...
The payroll register for Proctor Company for the week ended February 14 indicated the following: Salaries...
The payroll register for Proctor Company for the week ended February 14 indicated the following: Salaries $1,420,000 Social security tax withheld 85,200 Medicare tax withheld 21,300 Federal income tax withheld 284,000 In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.8%, respectively, on $266,000 of salaries. Required: A. Journalize the entry to record the payroll for the week of February 14.* B. Journalize the entry to record the payroll tax expense incurred for the...
The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries...
The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries $1,560,000 Social security tax withheld 93,600 Medicare tax withheld 23,400 Federal income tax withheld 312,000 In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.6%, respectively, on $254,000 of salaries. Required: A. Journalize the entry to record the payroll for the week of April 29.* B. Journalize the entry to record the payroll tax expense incurred for the...
Journal entry worksheet
1
Record salaries and wages expense.
Record payroll tax expense.
Record salaries and wage expense for fringe benefits provided
by the employer.
Alamar Petroleum Company offers its employees the option of contributing retirement funds up to 5% of their salaries, with the contribution being matched by Alamar. The company also pays 85% of medical and life insurance premiums. Deductions relating to these plans and other payroll information for the first biweekly payroll period of February are listed...
Summary Payroll Data In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings: 1. At regular rate 2. At overtime rate $67,700 3. Total earnings Deductions: 4. Social security tax 5. Medicare tax 6. Income tax withheld 7. Medical insurance 27,060 6,765 115,100 15,600 8. Union dues 9. Total deductions 167,000 10. Net amount paid $284,000 Accounts debited: 239,000 11. Factory Wages 12. Sales Salaries 13. Office Salaries 90,200 b. Journalize the entry...
In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings: $72,600 1. At regular rate 2. At overtime rate 3. Total earnings Deductions: 4. Social security tax 5. Medicare tax 29,040 6. Income tax withheld 7,260 123,400 16,700 7. Medical insurance 8. Union dues 9. Total deductions 179,000 305,000 10. Net amount paid Accounts debited: 11. Factory Wages 256,500 12. Sales Salaries 13. Office Salaries 96,800 a. Calculate the amounts omitted in lines...
Recording Payroll and Payroll Taxes Beamon Corporation had the following payroll for April: Officers' salaries Sales salaries Federal income taxes withheld FICA taxes withheld Health insurance premiums withheld Union dues withheld Salarles (Included above) subject to federal unemployment taxes Salaries (included above) subject to state unemployment taxes $34,000 67,000 19,000 7.500 1.800 1.200 55.000 58.000 Required Prepare journal entries on April 30 to record: a. Accrual of the monthly payroll. b. Payment of the net payroll. c. Accrual of employer's...
Town Hodesvios due 13. The summary of the payroll for the monthly pay period ending July 15 indicated the following: lot or silol Sales salaries $125,000 to ODES Federal income tax withheld 0 22 opib 32,300 Office salaries D oon 35,000 24 Point Medical insurance withheld 7,370 Social security tax withheld 9,600 Medicare tax withheld 2,400 Journalize the entries to record (a) the payroll and (b) the employer's payroll tax expense for the month. The state unemployment tax rate is...
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