6. Journalize the payroll entries from the following information: Salaries $120,000; Income Tax deduction $20,000; Fica Tax deduction 7% of salaries; US Savings Bond deduction $2,000; SUTA Tax 4% of salaries; FUTA Tax .8 of salaries.

Q: The payroll register of Longboat Co. indicates $5,400 of social security withheld and $1,350 of…

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: Kay's Agency has the following payroll information for the week ended December 14. State income tax…

A: Payroll refers to the amount of payment made to employees of the company by the employer. It…

Q: I need some help with the questions reffering to the image below. Complete Accounting Services has…

A: 1.

Q: ng to a summary of the payroll of Scotland Company, $450,000 was sub cial security tax and $500,000…

A: The acronym SUTA stands for State Unemployment Tax which has been deducted for the unemployed…

Q: Journalize Payroll Tax The payroll register of Heritage Co. indicates $3,900 of social security…

A: A payroll tax is a tax paid on the wages and salaries of employees to finance social insurance…

Q: The payroll reoster of Heritage Co. indicates $12,000 of social security withhekd and $3,000 of…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Ultimate Accounting Services has the following payroll information for the week ending in December…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be:   Debit…

A: Journal entry - It refers to the process where the business transactions are recorded in the books…

Q: The payroll register of Heritage Co. indicates $13,800 of social security withheld and $3,450 of…

A: State unemployment tax payable= Earnings x State rate= $36000*5.40%= $1944 Federal Unemployment tax…

Q: according to a summary of the payroll of Scotland company, salaries for the. Were 500,000 federal…

A: Introduction: A journal is the official book of the firm in which all transactions are documented in…

Q: Which equation could be used to identify one of the following levels of Federal Income Tax…

A: solution correct answer is option D : FIT =0.15g -14.85 ;where g= gross pay in dollars the above…

Q: [The following information applies to the questions displayed below.]The following summary data for…

A: Payroll Accounting: The process of payroll accounting includes the computation and payment of…

Q: According to a summary of the payroll of Guthrie Co., $560,000 was subject to the 6.0% social…

A: Part a:

Q: The payroll register of Salem Communications Co. indicates 6.2% of social security withheld and…

A: Payroll taxes are the amount of tax liability that is to be paid on payment of salaries and wages to…

Q: Complete Accounting Services has the following payroll information for the week ended December 7.…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social…

A: Social Security tax = Taxable Earnings x Social Security tax rate = $500,000*6.00% = $30,000…

Q: he payroll register of Seaside architecture company indicates $915 of Social Security and $177 of…

A: A record is frequently recorded in the primary ledger; however, it may alternatively be entered in a…

Q: he journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be:   Debit…

A: a. Record journal entry for payment of wages, payroll and withhold taxes payable as shown below:…

Q: Jones Corporation pays its employees monthly. The following information is available for the January…

A: Given the following information: Gross wages: $70,000 FICA rate: 8% Unemployment taxesFederal:…

Q: The payroll register of Sara Company indicates $5,850 of social security tax withheld and $1,600 of…

A: Introduction: Payroll tax expense account is indeed the holding account used to keep track of the…

Q: 27. Using the information below, determine the amount of the payroll tax expense for B. Harper…

A: Payroll tax expense refers to the tax charged on the payroll of the entity. It includes the social…

Q: According to a summary of the payroll of Scotland Company, salaries for the period were $400,000.…

A:

Q: The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be:   Debit…

A: Given the following information: Payroll: $67,000 The total payroll is taxable under FICA Taxes-HI;…

Q: According to a summary of the payroll of Scotland Company, total salaries were $500,000.  Assume…

A:

Q: The following totals for the month of April vwere taken from the payrall records of Marigold Corp.…

A: The entry to record the payment of net payroll include a debit to Salaries and Wages Payable  =…

Q: Journalize payroll taxThe payroll register of Heritage Co. indicates $4,200 of social security…

A: The payroll accounting includes the recording of the payroll expenses, employees'…

Q: Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Faruga Company had FUTA…

A: FUTA taxes :  It stands for Federal Unemployment Tax act which is administered by U.S. Department…

Q: Based on the payroll information for Romac Electric that follows. Total gross earnings: $2,462.00…

A: Tax refers to the compulsory or mandatory obligation which is financially imposed on the taxpayer…

Q: Complete Accounting Services has the following payroll information for the week ended December 7.…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: 1)Chester Company reported payroll for the month of January 2022 as follows: Total Wages Income…

A: The payroll tax liability is the total amount of the tax that is company liable for before any…

Q: The totals from the first payroll of the year are shown below. Total Earnings   FICA OASDI   FICA HI…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: According to a summary of the payroll of Scotland Company, salaries for the period were $400,000.…

A: Introduction: Journal: Recording of a business transactions in a chronological order.

Q: Journalize the entry to record the accrual of payroll.

A: Given information is: According to a summary of the payroll of Scotland Company, salaries for the…

Q: 3. Ethel Corp. Has the following data for the month of March 2021: Gross Payroll Employee's…

A: Factory overheads are the indirect costs and expenses incurred in the business and will be mainly…

Q: According to a summary of the payroll of Mountain Streaming Co., $110,000 was subject to the 6.0%…

A: In this question, we have been asked to calculate payroll tax expenses for which we have been given…

Q: Summary Payroll Data Assume that the social security tax rate is 6% and the Medicare tax rate is…

A: The income paid to an employee is comprised of various components that make the total income. Taxes…

Q: The books of Kwek-Kwek Corp. shows the following information related to payroll as of December 31,…

A: • Accrued salaries and wages (payable on January 5, 2021)- P660,000

Q: According to a summary of the payroll of Sinclair Company, $505,000 was subject to the 6.0% social…

A: Your journal entries may not be seen if you use accounting software or outsource your accounting,…

Q: a. On December 31, calculated the payroll, which indicates gross earnings for wages ($310,000),…

A: A journal entry refers to the recording of the business transactions and events in the books of…

Q: In tax year 2021-22, Class 2 NICS are payable by monthly or quarterly direct debit at a flat rate of…

A: P11D: A P11D is the structure used to report costs and advantages paid to directors and workers…

Q: 30. Banner Company had the following payroll data for the year: $900,000 100,000 610,000 Gross…

A: Gross earnings for (FICA tax rate ) = Gross earnings of employees + Employee earnings subject to…

Q: The totals from the first payroll of the year are shown below. Total FICA State Union Net FICA НІ…

A: Solution:- Given, We have the information of totals from the first payroll of the year.

Q: According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social…

A: SUTA is the state unemployment tax. The employers are required to pay SUTA taxes because these are…