Please just find the FICA taxes. Thank you :) preventing automatic updates.LaWeygandt, Accounting Principles, 13eFINANCIAL/MANAGERIAL ACCOUNTING (ACC 124/125/201сеAssignmentGradebookORIONDownloadable eTextbookentCALCULATORFULL SCREENPRINTER VERSION1 BACKExercise 11-11 a-b (Part Level Submission)Ramirez Company has the following data for the weekly payroll ending January 31.HoursFederal IncomeTax WithholdingHealthHourlyRateEmployeeT.FInsuranceL. Helton889103$12$34$10R. Kenseth88.88.82.143725D. Tavaras108155825Employees are paid 1.5 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 7.65% on the first $127,200 of gross earnings. Ramirez Company is suto 5.4% state unemployment taxes and 0.8% federal unemployment taxes on the first $7,000 of gross earnings.v (a)Your answer is partially correct. Try again.Prepare the payroll register for the weekly payroll. (Round answers to 2 decimal places, e.g. 15.25.)RAMIREZ COMPANYPayroll RegisterFor the Week Ending January 31DeductionsEarningsEmployee Total HoursRegularOvertimeGross PayFICA TaxesFederal Income Taxes Health InsuranceTotalNet PayL. Helton480108588341046Versionolicy I 9 2000-2021 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. n.wileyplus.com/edugenmainir.uniSome apps currently in use arepreventing automatic updates.L.Weygandt, Accounting Principles, 13eFINANCIAL/MANAGERIAL ACCOUNTING (ACC 124/125/20cticeAssignmentGradebookORIONDownloadable eTextbookmentCALCULATORFULL SCREENPRINTER VERSION1 BACKto 5.4% state unemployment taxes and 0.8% tederal unemployment taxes on the first $7,000 ot gross earnings.v (a)Z Your answer is partially correct. Try again.Prepare the payroll register for the weekly payroll. (Round answers to 2 decimal places, e.g. 15.25.)RAMIREZ COMPANYPayroll RegisterFor the Week Ending January 31EarningsDeductionsEmployee Total HoursRegularOvertimeGross PayFICA TaxesFederal Income Taxes Health InsuranceTotalNet PayL. Helton464801085883410R. Kenseth4256042.006023725D. Tavaras446009069058251,6401,880Totals24012960Attempts: 6 of 15 usedSAVE FOR LATERSUBMIT ANSWPolicy I © 2000-2021 John wiley & Sons, Inc, All Rights Reserved. A Division of John Wiley & Sons, Inc.Version

Weekly Payroll Register: The weekly payroll register is the register of payroll of employees which…

Ramirez Company has the following data for the weekly payroll ending January 31. Hours Hourly Rate Federal Income Tax Withholding Health Employee F Insurance L. Helton 8. 8 9 10 3 $12 $34 $10 R. Kenseth 8. 8 8 8 2 14 37 25 D. Tavaras 10 8 8 9 15 58 25 Employees are paid 1.5 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 7.65% on the first $127,200 of gross earnings. Ramirez Company is s to 5.4% state unemployment taxes and 0.8% federal unemployment taxes on the first $7,000 of gross earnings. v (a) 2 Your answer is partially correct. Try again. Prepare the payroll register for the weekly payroll. (Round answers to 2 decimal places, e.g. 15.25.)

Ramirez Company has the following data for the weekly payroll ending January 31. Hours Hourly Rate Federal Income Tax Withholding Health Employee F Insurance L. Helton 8. 8 9 10 3 $12 $34 $10 R. Kenseth 8. 8 8 8 2 14 37 25 D. Tavaras 10 8 8 9 15 58 25 Employees are paid 1.5 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 7.65% on the first $127,200 of gross earnings. Ramirez Company is s to 5.4% state unemployment taxes and 0.8% federal unemployment taxes on the first $7,000 of gross earnings. v (a) 2 Your answer is partially correct. Try again. Prepare the payroll register for the weekly payroll. (Round answers to 2 decimal places, e.g. 15.25.)

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter13: Accounting For Payroll And Payroll Taxes

Section13.1: Recording A Payroll

Problem 1OYO

See similar textbooks

Similar questions

Concerning payroll accounting - What is the order of calculation on Quarter-hour method & Hundreth-hour method? For example: IN 8:08 OUT 11:57 IN 12:59 OUT 4:57 IN 9:04 OUT 12:17 IN 1:28 OUT 5:18 IN 7:45 OUT 11:45 IN 12:43 OUT 4:01 IN 7:57 OUT 12:04 IN 1:03 OUT 5:06 Thank you for your assistance. Jewelee Marple
Classify each of the following actions as either being associated with the financial accounting information system (FS) or the cost management information system (CMS): a. Determining the total compensation of the CEO of a public company b. Issuing a quarterly earnings report c. Determining the unit product cost using TDABC d. Calculating the number of units that must be sold to break even e. Preparing a required report for the SEC f. Preparing a sales budget g. Using cost and revenue information to decide whether to keep, or drop, a product line h. Preparing an annual statement of financial position that conforms to generally accepted accounting principles (GAAP) i. Using cost and revenue information to decide whether to invest in a new production system or not j. Reducing costs by improving the overall quality of a product k. Using a debt-equity ratio and liquidity ratios from a balance sheet to assess the likelihood of bankruptcy l. Using a public companys financial statements to decide whether or not to buy its stock
In the Illustrative Case in this chapter, payroll transactions for Brookins Company were analyzed, journalized, and posted for the third quarter of the fiscal year. In this problem, you are to record the payroll transactions for the last quarter of the firms fiscal year. The last quarter begins on April 1, 20--. Refer to the Illustrative Case on pages 6-27 to 6-33 and proceed as follows: a. Analyze and journalize the transactions described in the following narrative. Use the two-column journal paper provided on pages 6-73 to 6-77. Omit the writing of explanations in the journal entries. b. Post the journal entries to the general ledger accounts on pages 6-78 to 6-83. Narrative of Transactions: c. Answer the following questions: 1. The total amount of the liability for FICA taxes and federal income taxes withheld as of June 30 is................................................................................ ________ 2. The total amount of the liability for state income taxes withheld as of June 30 is................................................................................................................ ________ 3. The amount of FUTA taxes that must be paid to the federal government on or before August 1 (assume July 31 is a Sunday) is........................................ ________ 4. The amount of contributions that must be paid into the state unemployment compensation fund on or before August 1 is.................................................. ________ 5. The total amount due the treasurer of the union is........................................ ________ 6. The total amount of wages and salaries expense since the beginning of the fiscal year is ................................................................................................... ________ 7. The total amount of payroll taxes expense since the beginning of the fiscal year is ............................................................................................................ ________ 8. Using the partial journal below, journalize the entry to record the vacation accrual at the end of the companys fiscal year. The amount of Brookins Companys vacation accrual for the fiscal year is 15,000.
From the adjusting entries below, prepare the reversing entry(ies) that would be needed for January 1. GENERAL JOURNALPage 1 DateDescriptionPostRef. DebitCreditAdjusting EntriesDec.31Work in Process Inventory17,333.00Factory Overhead17,333.0031Interest Receivable2,367.00Interest Revenue2,367.0031Office Supplies Expense6,319.00Office Supplies6,319.0031Factory Overhead15,841.00Factory Supplies15,841.0031Bad Debt Expense4,320.00Allowance for Bad Debts4,320.0031Factory Overhead1,927.00Prepaid Insurance1,927.0031Factory Overhead6,210.00Accumulated Depreciation—FactoryBuilding6,210.0031Factory Overhead14,253.00Accumulated Depreciation—FactoryEquipment14,253.00
This problem challenges you to apply your cumulative accounting knowledge to move a step beyond the material in the chapter. Irina Company pays its employees weekly.The last pay period for 20-1 was on December 28.From December 28 through December 31, the employees earned $1,754, so the following adjusting entry was made: The first pay period in 20-2 was on January 4.The totals line from Irina Company's payroll register for the week ended January 4, 20-2,was as follows: REQUIRED a.Prepare thejournal entry for the payment of the payroll on January 4, 20-2. b.Prepare T accounts for Wages and Salaries Ex. pense and Wages and Salaries Payable showing the beginning balance, January 4, 20-2.entry, and ending balance as of January 4, 20-2.
c. Assuming you have checked this account and have detected that client did not record an expense transaction of $60,000 for the accrued salary incurred in June 2020. The client also did not calculate and record the accrued annual leave expenses for the 2020 financial year at the amount of $30,000 - What management assertions are violated (i.e. at risk) - What would you do in relation to the personnel expenses account if you have determined that the issues detected all are errors (an unintentional mistake).
Peyton Company's payroll for the year is $739,020. Of this amount, $464,090 is for wages paid in excess of $7,000 to each individual employee. The SUTA rate in Peyton Company's state is 2.9% on the first $7,000 of each employee's earnings. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Required: Compute: a. Net FUTA taxb. Net SUTA taxc. Total unemployment taxes Round your answers to the nearest cent. a. Net FUTA tax $fill in the blank 2 b. Net SUTA tax fill in the blank 3 c. Total unemployment taxes $fill in the blank 4 Feedback
Given the following data from the payroll register of Johnson Construction, prepare the journal entry to record payroll for the week ending May 20. Hours worked 41.5 Regular pay $400.00 Overtime pay 22.50 Gross pay 422.50 FICA taxes 32.32 Federal income tax 3.00 State income tax 4.00 United Fund 16.00 Insurance 6.00 Total deductions 61.32 Net pay ? Prepare the journal entry to pay payroll on May 28. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 15.25.) Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount…
A home office, month-end allocation of previously recorded advertisingexpenses to a branch requires the following entry on the home office books A. DR: Advertising Expense CR: Branch IncomeB. DR: Advertising Expense CR: Accrued LiabilitiesC. DR: Branch Income CR: Home Office CapitalD. None of the above.
Can you explain how properly complete this problem, I keep gtting it incorrect. At the end of 2021, Nash's Trading Post, LLC has accounts receivable of $635,600 and an allowance for doubtful accounts of $23,140. 1. On January 24, 2022, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,210. 2. On March 4, 2022, Nash's Trading Post, LLC receives payment of $4,210 in full from Madonna Inc. Prepare the journal entries to record this transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount 2. Enter an account title to record recovery of accounts receivable Enter a debit amount…
In January, the payroll supervisor determines that gross earnings for Sheridan Company are $68,000. All earnings are subject to 7.65% FICA taxes, 5.4% state unemployment taxes, and 0.6% federal unemployment taxes.Sheridan asks you to record a journal entry for the employer payroll taxes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 12.25.) Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount
The information for Perseus Company, shown in the following chart, is available from Perseus’s time records and the employees’ individual earnings records for the pay period that ended on December 22. Name HoursWorked Earnings at Endof Previous Week TotalEarnings Class FederalIncome Tax OtherDeductions Beals, C. 44 62,240.00 1,650.00 Sales 193.37 UW 25 Hines, V. 40 120,540.00 2,841.00 Sales 445.03 AR 95 Gore, L. 40 72,000.00 1,872.00 Sales 182.90 UW 25 Moreland, J. 46 34,090.00 1,040.00 Office 46.00 UW 35 Lindel, K. 43 43,450.00 2,010.00 Office 58.00 AR 75 Nordello, Y. 42 46,000.00 2,200.00 Office 67.00 UW 25 Regan, W. 43 52,640.00 1,120.00 Office 65.00 AR 25 Troutman, D. 40 64,000.00 1,310.00 Sales 90.00 UW 20 Additional Information: Taxable earnings for Social Security are based on the first $118,500. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the…