Journalize Period Payroll The payroll register of Wang Engineering Co. indicates $1,860 of social security withheld and $465 of Medicare tax withheld on total salaries of $31,000 for the period. Federal withholding for the period totaled $5,270. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank. cash/employees federal income tax payable/payroll tax expense/salaries expense/salaries payable/social security tax expense/socail securtiy tax payable/medicare tax expense/medicare tax payable

Q: Provide the journal entry to record the payroll tax expense for the period.

A: Given: Withheld social security = $ 4,200 Tax of Medicare = $ 1,050 Total salaries = $ 70,000…

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: Record the journal entries for each of the following payroll transactions. If an amount box does not…

A: Journal entries: - Journal entries are the initial entries that we make for the business…

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following:…

A: Journal entry: It is the duty of the accountant to record business economic and non-economic…

Q: Journalizing Payroll Transactions On December 31, the payroll register of Hamstreet Associates…

A: Introduction:- The act of recording or keeping track of any financial or non-financial action is…

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

A: Payroll: The total payment that a company is required to pay its employee for the service is called…

Q: The payroll register for Gamble Company for the week ended April 29 indicated the following:…

A: Journal entry refers to the recording made by the business in the books of accounts, of all the…

Q: May 18 b. Journalize the entry to record the payroll tax expense incurred for the week of May 18.…

A: Journal entry: This is the first step to record accounts. It is written in the same order in which…

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: a. Journalize the entry to record the payroll for the week of July 15.* b. Journalize the entry to…

A: ournal: Recording of a business transactions in a chronological order.

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Social Security Tax Payable  = Gross salaries x Social security tax rate = $352,000*6% = $21,120…

Q: Payroll Journal Entry Regular earnings $ 5,715.00 Overtime earnings   790.00 Deductions:…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

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

A: Payroll cost of the business includes total costs related to salaries of the employees and their…

Q: Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $2,346 of social…

A: State unemployment tax = earnings subject to state and federal tax × 5.4%

Q: Calculation and Journal Entry for Employer Payroll Taxes Portions of the payroll register for La…

A: Taxation: Taxation refers to the imposition of compulsory financial obligations by the government on…

Q: Payroll Entries The payroll register for D. Salah Company for the week ended May 18 indicated the…

A: Tax liability: It is the total amount of tax owed is a given period, by individuals and…

Q: PAYROLL LIABILITY: On 15 September 2020, Speedy directly transferred $30,000 to employees’ bank…

A: Payroll transaction is journalized by debiting the total salaries expense and crediting the amount…

Q: Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $2,712 of social…

A: Payroll taxes: Payroll taxes are the taxes withheld by the employers from the wages/salary payable…

Q: Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $966 of social…

A: State unemployment tax payable = 5000×5.4% =$270

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: b. Prior to posting the November 29 payroll transaction, FICA Taxes Payable-OASDI, FICA Taxes…

A: The payroll tax is defined as the portion of employees’ wages or salary withheld by the employer for…

Q: Entries for Payroll and Payroll Taxes The following information about the payroll for the week…

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

Q: The payroll register of Patel Heritage Co indicates $2,280 of social security withheld and $570.00…

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

Q: Sales salaries Federal income tax withheld Office salaries Medical insurance withheld Social…

A: Payroll Calculation of payroll expenses which are treated as important part in the accounting in the…

Q: Record the journal entries for each of the following payroll transactions. If an amount box does not…

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

Q: The payroll register of Seaside Architecture Company indicates $910 of social security and $251 of…

A: Net Salaries Payable = Total Salaries - Social Security Tax - Medicare Tax - Federal Income Tax =…

Q: The payroll register of Chupa Chup Engineering Services indicates $1,000 of social security withheld…

A: Employees and employers must pay payroll taxes on earnings and tips earned, as well as salary paid…

Q: Journalize Payroll Tax The payroll register of Chen Engineering Co. indicates $1,956 of social…

A: 1. Gross salary = $32,600 2. Federal unemployment Tax = $10,100 x 0.6%=$60.60  3. State unemployment…

Q: Record the journal entries for each of the following payroll transactions. If an amount box does not…

A: In the financial method for an entity, a journal entry documents a commercial activity. Journal…

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: . The payroll register of Seaside Architecture Company indicates $970 of social security and $257 of…

A: Lets understand the basics. Journal is required to make to record event and transaction that…

Q: Journalize Period Payroll The payroll register of Wang Engineering Co. indicates $960 of social…

A: Payroll taxes:  Payroll taxes are the taxes withheld by the employers from the wages/salary payable…

Q: Journalize the following data taken from the payroll register of CopyMasters as of April 15, 20—.…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Journalizing Payroll Transactions 1.  Determine the amount of Social Security and Medicare taxes to…

A: Payroll is the compensation a business must pay to its employees for a period it include employees…

Q: Record the journal entries for each of the following payroll transactions. If an amount box does not…

A: The primary reporting of transactions in the books of accounts is referred to as journal entries.

Q: The payroll register of Seaside Architecture Company indicates $840 of social security and $213 of…

A: Formula: State Unemployment Tax Payable = Total salaries x State Unemployment Tax rate Federal…

Q: Journal entries for payroll A partial summary of the payroll data for Burrington Manufactur- ing…

A: Financial transactions are initially recorded in the form of journal entry.

Q: Accounting Entries for Payroll and Payroll Taxes The following information about the payroll for the…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Journalizing Payroll Transactions 1.  Determine the amount of Social Security and Medicare taxes to…

A: In the above equation, the social security tax has been calculated by taking the earnings subject to…

Q: Recording Payroll and Payroll Taxes Manchester, Inc., had the following payroll for March:…

A: Salaries expense = Office salaries + Sales salaries = $ 390000 +$ 650000 = $ 1040000

Q: Entries for Payroll and Payroll Taxes The following information about the peyroil for the week ended…

A: In this question, we have been given information related to the Payroll role, and on the basis of…

Q: Calculating Payroll Taxes Expense and Preparing Journal Entry Selected information from the payroll…

A: Gross pay: It is the total amount of wages earned by employees without deducting any taxes or…

Q: The payroll register of Seaside Architecture Company indicates $960 of social security and $260 of…

A: Payroll is the automation of settling the dues towards the employees of the organization and the…

Q: Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $2,700 of social…

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

Q: Journalize the following data taken from the payroll register of CopyMasters as of April 15, 20—.…

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

Q: he payroll register of Chen Engineering Co. indicates $1,380 of social security withheld and $345 of…

A: Payroll deductions are the amounts that are mandatorily or voluntarily deducted by the employer from…

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following:…

A: Payroll tax expenses are the expenses which is related to payroll of an employee deduct by the…

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following:…

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

Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.