Week 7 Q4

Question 18: Julio has $10 withheld from every paycheck to be used as a donation to a local charity. When his employer pays these withheld amounts to the charity, what type of account is debited? Answer: A. O Asset В. O Liability C. O Revenue D. O Expense

D Exercise 5-7A (Static) Which of the following statements are true about state and local income taxes? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) W S X F2 ? All states tax employee earnings. ? Some localities levy income tax on employees. State tax rates on employee earnings vary among states. ? Certain states have no personal income tax deduction. # 3 E JUL 7 80 F3 $ 4 R Q F4 % 5 U * 00 8 DII F8 I ( 9 J K CVBNM A F9 0 < ) 0 F10 L W P 4 F11 { [ = F12 ?

Question 8 If Automated taxes and form setting is on, can you change the date of payment for automated taxes? No. If the client needs to select the payment date, they need to turn off Automated taxes and forms Yes. You can change the submission date up to 10 days before submitting the tax payment No. There is no option to change the date of payment in QuickBooks Online Payroll Yes. Automated taxes gives you total control over the date of the tax payments

Exercise 5-4A (Static) Under which circumstances could the percentage method be used to determine federal income tax withholding amounts? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) @ 2 W ? When the employee's taxable income exceeds the maximum amount on the appropriate wage-bracket table ? When computational accuracy is critical ? When using a computerized accounting system to compute payroll deductions ? When using a manual accounting system for a small number of low-pay employees F2 # 3 JUL 7 E 80 F3 $ 4 a F4 R . % 5 U 8 DII F8 ZAO 1 ( DD 9 F9 ) 0 0 W F10 S D F G H J K L P X F11 >

Problem 3 Tax Relief (continued) For each taxpayer, output the Social Security Number (exactly as input), two spaces, a dollar sign '$' and the check amount left justified with no leading zeros as dollars, a decimal point, and two digits of cents. Then for each week for which checks are to be distributed, output a summary line reporting the number of checks (no leading space), two spaces, a dollar sign '$' and the week's total distributed amount left justified with no excess leading zeros as dollars, a decimal point, and two digits of cents, one space and the week exactly as listed in Table 3.2. List the weeks in the same order as Table 3.2. 123-45-0001 1 40100 8200 890-12-3456 4 98910 24182 123-45-0002 4 6000 904 123-45-0001 $300.00 890-12-3456 $500.00 $300.00 123-45-0002 2 $600.00 July 23 1 $500.00 August 27 Sample Input Sample Output

A1 please help.....

Question text The totals from the first payroll of the year are shown below.​ Total Earnings FICA OASDI FICA HI FIT W/H State Tax Union Dues Net Pay  $36,195.10  $2,244.10  $524.83 $6,515.00 $361.95 $500.00 $26,049.22 ​ Journalize the entry to deposit the FICA and FIT taxes.

Exercise 6-6A (Static) Which form(s) should be prepared and filed by companies with employees and payroll tax liabilities exceeding $50,000 as of December 31, 20XX? (You may select more than one answer. Single click the box with the question mark to produce a check mam for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) W F2 ?Form W-2 ? Form 941 ?Form W-4 ?Form 940 # 3 E JUL 15 80 F3 $ 4 R Q F4 % 5 * 8 DII F8 1 ( 9 A F9 0 ) 0 2 J F10 J K L P 4 F11 A + { 4) ( F12

Exhibit 6-1The totals from the first payroll of the year are shown below. ​ Total Earnings FICA OASDI FICA HI FIT W/H State Tax Union Dues Net Pay  $36,195.10  $2,244.10  $524.83 $6,515.00 $361.95 $500.00 $26,049.22 ​ ​ Refer to Exhibit 6-1. Journalize the entry to deposit the FICA and FIT taxes.

H1. Account

Needing some help.

Can you please check if this is correct

Problem 12-3 Analyzing a Source Document Use this partially completed payroll check stub to answer the questions. The employee, Melanie Galvin, is single and claims one allowance. Employee Pay Statement Detach and retain this statement. 260 Eamings Deductions Period Ending Net Pay Social Regular Overtime Total Security Тах Med. Tax Federal State Income Income Тах Hosp. Ins. Other Total Tax 1/15/20- 315.00 315.00 1. What amount should be deducted for Medicare tax? Use the tax 1.45% for calculation. Medicare Tax 2. What amount should be deducted for Social Security tax?Use the tax 6.2% for calculation. Social Security Tax 3. Use the information in the tax table below to answer this question. What amount should be deducted for Federal Income tax? Federal Income Tax

please explain why the option is correct and remaining incorrect

No point added just for practice. I want to see want I did wrong

Exhibit 6-1 The totals from the first payroll of the year are shown below. Total Earnings $36,195.10 FICA OASDI $2,244.10 FICA HI $524.83 FIT W/H $6,515.00 Refer to Exhibit 6-1. Journalize the entry to deposit the FICA and FIT taxes. State Tax $361.95 Union Dues $500.00 Net Pay $26,049.22

INVOICE issued date 05/05/2020 as below: You have received an invoice from one of our suppliers and you are required to prepare: (i) Double entry for the invoice you have received base on the account and supplier number provided. (ii) Base on tax point of view, specify each item whether it is Capital or Revenue expenditure.

Problem 9-7 The FICA Tax (LO 9.3) (No COVID-19 provisions) Lamden Company paid its employee, Trudy, wages of $61,500 in 2021. Calculate the FICA tax: Round your answers to two decimal places. Withheld from Trudy's wages: Social Security Medicare Paid by Lamden: Social Security Medicare Total FICA Tax

Sales salaries Federal income tax withheld Office salaries Medical insurance withheld Social security tax withheld Medicare tax withheld $125,000 32,300 35,000 7,370 10,200 2,550 a. Journalize the entry to record the payroll. If an amount box does not require an entry, leave it blank. July 15 D b. Journalize the entry to record the employer's payroll tax expense for the th. The state unemployment tax rate is 5.4%, and the federal unemployment tax rate is 0.8% Only $25,000 of salaries are subject to unemployment taxes. If an amount box does not require an entry, leave it blank. July 15