Homework Answers
|
Salaries or wages expenses FICA-OASDI payable (3000*6.2%) FICA-HI payable (3000*1.45%) Federal income tax payable Union dues payable Medical insurance payable Net Salaries or wages payable (To record payroll) |
3000. |
186 43.5 380 165 210 2,015.5 |
|
Net salaries or wages payable Cash (To record payment of payroll ) |
2015.5 |
2015.5 |
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2. Assume that a payroll register contains the following columnar totals for the pay period ended...
Complete the following payroll register for Thorndike Manufacturing Company. All workers receive time and one-half for...
Complete the following payroll register for Thorndike Manufacturing Company. All workers receive time and one-half for hours worked in excess of 40 hours per week. Compute Social Security using 6.2% and Medicare using 1.45%. Medical insurance and union dues deductions are shown in the payroll register. Use the wage bracket method to determine federal income tax. Total each column and verify the total net pay amount. Payroll Register Earnings Deductions Employee Name Allow. Status Hours Worked Pay Rate Regular Overtime...
Complete the following payroll register for Thorndike Manufacturing Company. All workers receive time and one-half for...
Complete the following payroll register for Thorndike Manufacturing Company. All workers receive time and one-half for hours worked in excess of 40 hours per week. Compute Social Security using 6.2% and Medicare using 1.45%. Medical insurance and union dues deductions are shown in the payroll register. Use the wage bracket method to determine federal income tax. Total each column and verify the total net pay amount. Payroll Register Earnings Deductions Employee Name Allow. Status Hours Worked Pay Rate Regular Overtime...
On January 15, the end of the first biweekly pay period of the year, North Company's...
On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees earned $30,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $484 of medical insurance deductions, and $260 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to...
On January 15, the end of the first biweekly pay period of the year, North Company’s...
On January 15, the end of the first biweekly pay period of the
year, North Company’s payroll register showed that its employees
earned $50,000 of sales salaries. Withholdings from the employees’
salaries include FICA Social Security taxes at the rate of 6.2%,
FICA Medicare taxes at the rate of 1.45%, $2,300 of federal income
taxes, $1,175 of medical insurance deductions, and $220 of union
dues. No employee earned more than $7,000 in this first period.
Prepare the journal entry to...
(5) The payroll records of a company provided the following data for the weekly pay period...
(5) The payroll records of a company provided the following data for the weekly pay period ended December 7: Earnings to End of Previous Week S 54,000 40,500 45.000 Federal Income Taxes $216 Union Dues $15 Medical Insurance Deduction $125 125 150 United Way $15 Gross Pay $1,200 900 1.000 Employee Ronald Arthur John Baines Ted Carter 30 15 162 180 -0- The FICA social security tax rate is 6.2% and the FICA Medicare tax rate is 1.45% on all...
On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register showed that its emplo...
On January 8, the end of the first weekly pay period of the
year, Regis Company's payroll register showed that its employees
earned $26,760 of office salaries and $70,840 of sales salaries.
Withholdings from the employees' salaries include FICA Social
Security taxes at the rate of 6.20%, FICA Medicare taxes at the
rate of 1.45%, $12,860 of federal income taxes, $1,420 of medical
insurance deductions, and $860 of union dues. No employee earned
more than $7,000 in this first period....
QS 9-5 Record employee payroll taxes LO P2 On January 15, the end of the first...
QS 9-5 Record employee payroll taxes LO P2 On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees earned $40,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $2,000 of federal income taxes, $1,108 of medical insurance deductions, and $240 of union dues. No employee earned more than $7,000 in...
Testbank, Question 47 The following totals for the month of April were taken from the payroll...
Testbank, Question 47 The following totals for the month of April were taken from the payroll register of Branson Corp.: Gross salaries CPP withheld Employee income taxes withheld Medical insurance deductions El withheld Union dues withheld $26,850 1,330 5,785 930 478 446 The journal entry to record payment of the net payroll would include a debit to Salaries Payable for $17,881. debit to Salaries Payable for $15,300. e debit to Salaries Payable for $21,065. credit to Cash for $26,850.
On January 15, the end of the first biweekly pay period of the year, North Company's...
On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees earned $28,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2% FICA Medicare taxes at the rate of 1.45%, $3,800 of federal income taxes, $678 of medical insurance deductions, and $190 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to...
Design an algorithm using RAPTOR that will produce an employee payroll register from an employee file....
Design an algorithm using RAPTOR that will produce an employee payroll register from an employee file. Each input employee record contains the employee number, gross pay, income tax payable, union dues and other deductions. Your program is to read the employee file and print a detail line for each employee record showing employee number, gross pay, income tax payable, union dues, other deductions and net pay. Net pay is calculated as gross pay – income tax – union dues –...
On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees earned $30,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $484 of medical insurance deductions, and $260 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to...
On January 15, the end of the first biweekly pay period of the
year, North Company’s payroll register showed that its employees
earned $50,000 of sales salaries. Withholdings from the employees’
salaries include FICA Social Security taxes at the rate of 6.2%,
FICA Medicare taxes at the rate of 1.45%, $2,300 of federal income
taxes, $1,175 of medical insurance deductions, and $220 of union
dues. No employee earned more than $7,000 in this first period.
Prepare the journal entry to...
(5) The payroll records of a company provided the following data for the weekly pay period ended December 7: Earnings to End of Previous Week S 54,000 40,500 45.000 Federal Income Taxes $216 Union Dues $15 Medical Insurance Deduction $125 125 150 United Way $15 Gross Pay $1,200 900 1.000 Employee Ronald Arthur John Baines Ted Carter 30 15 162 180 -0- The FICA social security tax rate is 6.2% and the FICA Medicare tax rate is 1.45% on all...
On January 8, the end of the first weekly pay period of the
year, Regis Company's payroll register showed that its employees
earned $26,760 of office salaries and $70,840 of sales salaries.
Withholdings from the employees' salaries include FICA Social
Security taxes at the rate of 6.20%, FICA Medicare taxes at the
rate of 1.45%, $12,860 of federal income taxes, $1,420 of medical
insurance deductions, and $860 of union dues. No employee earned
more than $7,000 in this first period....
QS 9-5 Record employee payroll taxes LO P2 On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees earned $40,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $2,000 of federal income taxes, $1,108 of medical insurance deductions, and $240 of union dues. No employee earned more than $7,000 in...
Testbank, Question 47 The following totals for the month of April were taken from the payroll register of Branson Corp.: Gross salaries CPP withheld Employee income taxes withheld Medical insurance deductions El withheld Union dues withheld $26,850 1,330 5,785 930 478 446 The journal entry to record payment of the net payroll would include a debit to Salaries Payable for $17,881. debit to Salaries Payable for $15,300. e debit to Salaries Payable for $21,065. credit to Cash for $26,850.
On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees earned $28,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2% FICA Medicare taxes at the rate of 1.45%, $3,800 of federal income taxes, $678 of medical insurance deductions, and $190 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to...
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