I need help with part A, I got part B 2021 Percentage Method Tables for Manual Payroll Systems With Forms W-4 From 2020 or LaterMONTHLY Payroll PeriodSTANDARD Withholding Rate Schedules(Use these if the box in Step 2 of Form W-4 is NOT checked)Form W-4, Step 2, Checkbox, Withholding Rate Schedules(Use these if the box in Step 2 of Form W-4 IS checked)If the Adjusted Wage Amount(line lh) is:If the Adjusted Wage Amount(line lh) is:of the amount thatthe Adjusted WageThe tentativeof the amount thatThe tentativeBut less thanPlus thisthe Adjusted WageBut less thanPlus thisamount toamount toAt least-withhold is:exceeds-At least-withhold is:percentage-exceeds-percentage-D|ABEABDEMarried Filing JointlyMarried Filing Jointly$2,092$3,750$8,846$ 16,488S 29,579$ 36.996$ 54,450SO0%SO$ 1,046$ 1,875$ 4,423S 8,244$ 14,790S 18,498$ 27,225S0$ 1,046$1,875$ 4,423$ 8,244$ 14,790$ 18,498$ 27,225$0.00$0$1,046$1,875$ 4,423$ 8,244$ 14,790S 18,498$ 27.225$0.000%$ 2,092$ 3,750$ ,846$ 16,488$ 29.579$ 36,996$ 54,450$00$ 165.80$ 777.32$2,458.56$5.600.40$7,973.8410%$2,092$0.0010%$ 82.90$ 388.66$1,229.28$2.800.32$3.986.88$ 7,041.33Single or Married Filing Separately12%$3,750$8.846$ 16,488$ 29.579S 36.99612%22%24%32%35%37%22%24%32%35%37%$ 14,082.74$ 54,450Single or Married Filing Separately$1.046$1,875$4,423S 8,244$ 14,790$ 18,498$ 44,679SO$ 1,046$ 1.875$0$1,046$1,87550$ 523$ 938$2,211$0.00SO$ 523$ 523$ 938$2,211$ 4,122$7,395$ 9,249$ 22,3400%$0$0.000%$0.0010%$0.0010%$ 82.90$ 388.66$1.229.28$2.800.32$ 938$ 2,211$ 4,122$ 7,395$ 9,249$ 22,34012%$41.5012%$ 4,423$ 8,244$ 14,790$ 18,498$ 44,679$ 194.26$ 614.68$1,400.2022%$4,42322%24%32%S 8,244$ 14,790$ 18,498$ 44,679$ 4,122$ 7,395$9,249$ 22.34024%32%35%$3,986.88$ 13.150.2335%$1,993.48$6.575.33Head of Household$0.00$0.0037%37%Head of HouseholdSO$ 1,567$ 2,750$ 6,083$ 8,763$ 15,308$ 19,017$ 45,200SO$1,567$ 2,750$6,083$ 8,763$ 15,308$ 19,017$ 45,200S0$ 783$ 1,375$ 3,042$ 4,381$ 7,654$9,508S 22,600$1.567$ 783$ 1,375$ 3.042$ 4.381$7,654SO$ 783$1,375$3,042$ 4,381$7,654$9,508$ 22.600$0.000%$00%$ 2,750$0.00$ 118.30$ 518.26$1,107.86$2,678.66$ 3,865.54$ 13,029.5910%10%12%22%$ 59.20$ 259.24$ 553.82$ 1,339.34$1,932.62$6,514.8212%$6,083$ 8,763$ 15,308$ 19,017$ 45,20022%24%24%32%$9,508$ 22.60032%35%35%37%37% 2Kendall, who earned $130,800 during 2021, is paid on a monthly basis, is married, (spouse does not work) and claims two dependentswho are under the age of 17. Use the Percentage Method Tables for Automated Payroll Systems. Use percentage method tables forautomated systems.Requlred:a. What is Kendall's federal tax withholding for each pay period?b. What is Kendall's FICA withholding for each pay period?Note: For all requlrements, round your Intermedlate computatlons and final answers to 2 decimal places.eBookAmounta. Federal tax withholdingsb. Total FICA withholding

Federal tax withholding is the amount of money deducted from salary of an individual by his…

Kendall, who earned $130,800 during 2021, is paid on a monthly basis, is married, (spouse does not work) and claims two dependents who are under the age of 17. Use the Percentage Method Tables for Automated Payroll Systems. Use percentage method tables for automated systems. Required: a. What is Kendall's federal tax withholding for each pay period? b. What is Kendall's FICA withholding for each pay period? Note: For all requlrements, round your lIntermedlate computatlons and final answers to 2 decimal places. Amount a. Federal tax withholdings

Kendall, who earned $130,800 during 2021, is paid on a monthly basis, is married, (spouse does not work) and claims two dependents who are under the age of 17. Use the Percentage Method Tables for Automated Payroll Systems. Use percentage method tables for automated systems. Required: a. What is Kendall's federal tax withholding for each pay period? b. What is Kendall's FICA withholding for each pay period? Note: For all requlrements, round your lIntermedlate computatlons and final answers to 2 decimal places. Amount a. Federal tax withholdings

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter12: Preparing Payroll Records

Section: Chapter Questions

Problem 1MP

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Payroll Accounting Jet Enterprises has the following data available for its April 30, 2019, payroll: *All subject to Social Security and Medicare matching and withholding of 6.2% and 1.45%, respectively. Federal unemployment taxes of 0.70% and state unemployment taxes of 0.90% are payable on $405,700 of the wages earned. Required: 1. Compute the amounts of taxes payable and the amount of wages that will be paid to employees. Then prepare the journal entries to record the wages earned and the payroll taxes. ( Note: Round to the nearest penny.) 2. CONCEPTUAL CONNECTION Jet would like to hire a new employee at a salary of $65,000. Assuming payroll taxes are as described above (with unemployment taxes paid on the first $9,000) and fringe benefits (e.g., health insurance, retirement, etc.) are 25% of gross pay, what will be the total cost of this employee for Jet?
Reference Figure 12.15 and use the following information to complete the requirements. A. Determine the federal income tax withholdings amount per monthly pay period for each employee. B. Record the employee payroll entry (all employees) for the month of January assuming FICA Social Security is 6.2%, FICA Medicare is 1.45%, and state income tax is equal to 3% of gross income. (Round to the nearest cent if necessary.)
On September 30, Hilltop Companys selected payroll accounts are as follows: Prepare general journal entries to record the following: Oct. 15 Payment of federal tax deposit of FICA taxes and the federal income tax. 31 Payment of state unemployment tax. 31 Payment of federal unemployment tax.
Using the percentage method for manual payroll with W-4s from 2020 or later in Appendix C calculate the federal withholding amounts for the following employees. No information was included in Step 4 of the W-4, and no box was checked in Step 2. (Round your intermediate calculations and final answers to 2 decimal places.)
Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "0". Round your calculations and final answers to the nearest cent. Table of Allowance Values for 2019 Weekly 80.80 Biweekly 161.50 Semimonthly 175.00 Monthly 350.00 Quarterly 1,050.00 Semiannual 2,100.00 Annual 4,200.00 Daily/Misc. 16.20 Use the percentage method to compute the federal income taxes to withhold from the wages or salaries of each employee. If an amount is zero, enter "0". Round your calculations and final answers to the nearest cent. EmployeeNo. Employee Name MaritalStatus No. of WithholdingAllowances Gross Wageor Salary Amount to BeWithheld 1 Amoroso, A. M 0 $1,610 weekly $ 2 Finley, R. S 0 825 biweekly 3 Gluck, E. S 2 9,630 quarterly 4 Quinn, S. M 8 925 semimonthly 5 Treave, Y. S 2 2,875 monthly
Mastering Payroll 2020 - Section 6-How Employers Withhold and Deposit Federal Taxes 4. Determine when each of the following must deposit its Form 941 tax liabilities.a. Slowque, a monthly depositor, pays employees on Friday. Its total 941 depositobligation for wages paid on September 4, 2020, is $2,000.b. Lopez & Sons, a monthly depositor, pays employees on the 15th and last day of themonth. Its 941 deposit obligation for wages paid on June 26, 2020, is $112,400.
As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Payroll Systems with Forms W-4 from 2019 or earlier and 2020 FICA rates have been used. Example 4-12 To compute the tax using the percentage method for Manual Payroll Systems with Forms W-4 or Earlier, follow the steps illustrated below. Step 1Determine the amount of gross wages earned, marital status, number of allowances, and frequency of pay. Note: If the wage ends in a fractional dollar amount, the wage may be rounded to the nearest dollar. However, in this text, exact wages are used. → Wilson Goodman, single, claims two allowances and earns $915.60 semimonthly. Step 2Multiply the number of allowances claimed by the amount of one allowance for the appropriate payroll period, as shown in the Table of Allowance Values in Figure 4.19. → Table of Allowance Values for…
Prepare the general journal entry to record the employer's payroll taxes. Assume rates of 0.6 percent for federal unemployment tax and 5.4 percent for state unemployment tax based on the first $7,000 for each employee. Also assume that no employee has earned more than $7,000. If an amount box does not require an entry, leave it blank. If required, round your intermediate calculations and final answers to the nearest cent and use the rounded answers in subsequent computations.
PAYROLL LIABILITY: On 15 September 2020, Speedy directly transferred $30,000 to employees’ bank accounts for salaries for the first half of September 2020. PAYE withheld amounted to $10,000. The next payroll will be paid on 1 October 2020 for the same amount. Additionally, on 5 October 2020, PAYE for the 15 September 2020 transaction will be paid to the taxation authorities. • Journalise, in general journal format, the 15 September 2020 payroll transaction.
Sheridan Company’s salaried employees are paid biweekly. Occasionally, advances made to employees are paid back by payroll deductions. Information relating to salaries for the calendar year 2021 is as follows: 12/31/20 12/31/21Employee advances $ 24000 $ 37000Accrued salaries payable 162000 ?Salaries expense during the year 1420000Salaries paid during the year (gross) 1250000 At December 31, 2021, what amount should Sheridan report for accrued salaries payable? $125000. $175000. $332000. $170000.
Richard Lewis Inc pays its employees monthly. The payroll information listed below is for January 2021, the first month of Lewis’ fiscal year. Assume none of the employees' earnings reached $7,000 during the month. Salaries $80,000 Federal income taxes to be withheld 16,000 Federal unemployment tax rate (FUTA) 0.80% State unemployment tax rate (after FUTA deduction) 5.40% Social security tax rate 6.2% Medicare tax rate 1.45% The journal entry to record payroll for the January 2022 pay period will include a debit to payroll tax expense of: A. $6,120. B. $4,960. C. $11,080. D. $57,880.
Since the SUTA rates changes are made at the end of each year, the available 2019 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the net FUTA tax rate for employers. Example 5-10 The following unemployment tax rate schedule is in effect for the calendar year 2020 in State A, which uses the reserve-ratio formula in determining employer contributions: Reserve Ratio Contribution Rate 0.0% or more, but less than 1.0% 6.7% 1.0% or more, but less than 1.2% 6.4% 1.2% or more, but less than 1.4% 6.1% 1.4% or more, but less than 1.6% 5.8% 1.6% or more, but less than 1.8% 5.5% 1.8% or more, but less than 2.0% 5.2% 2.0% or more, but less than 2.2% 4.9% 2.2% or more, but less than 2.4% 4.6% 2.4% or more, but less than 2.6% 4.3% 2.6% or more, but less than 2.8% 4.0% 2.8% or more, but less than 3.0% 3.7% 3.0% or more, but less than 3.2% 3.4% 3.2% or more 3.1% Hyram Company, which is located in State A, had an average…