gnmentSavedJournal entry worksheet1Record payroll for period.Note: Enter debits before credits.DateGeneral JournalDebitCreditJanuary 31< Prev3 of 6Next >o search99Cop4-1444AIprt%1近 QS 9-7 (Algo) Recording employee payroll taxes LO P2During the month of January, an employee earned $5,100 of salary. Withholdings from the employee's salary consist of FICA SocialSecurity taxes of $316.20, FICA Medicare taxes of $73.95, federal income taxes of $543.15, and medical insurance deductions of$216.75. Prepare the journal entry to record the employer's salaries expense and related liabilities assuming these wages will be paidin early February. (Round your final answers to 2 decimal places.)C02View transaction listJournal entry worksheetces1<>Record payroll for period.Note: Enter debits before credits.DateGeneral JournalDebitCreditJanuary 31< Prev3 of 6Next >here to search99C 73°F818 PM9/24/202120hp144ort scdeletehomeendpg upDg dn4+ backspacenumlockY.7.8.homeDg upDGOenterMIpause1 shift1.23-endtoaltctriinsHP PavilionMe time. Now playing.PLAY3.

Payroll is the list of amount due to each employee in return of services rendered by them. The net…

Answered: Record payroll for period.

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter10: Liabilities: Current, Installment Notes, And Contingencies

Section: Chapter Questions

Problem 10.4BE

See similar textbooks

Similar questions

Recording payroll and payroll taxes The following information about the payroll for the week ended October 4 was obtained from the records of Simkins Mining Co.: Instructions For the October 4 payroll, determine the employee FICA tax payable.
Recording payroll and payroll taxes The following information about the payroll for the week ended October 4 was obtained from the records of Simkins Mining Co.: Instructions Determine the following amounts for the employer payroll taxes related to the October 4 payroll: (a) FICA tax payable, (b) state unemployment tax payable, and (c) federal unemployment tax payable.
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.)
Payroll register The following data for Throwback Industries Inc. relate to the payroll for the week ended December 9, 2016: Employee Hours Worked Hourly Rate Weekly Salary Federal Income Tax U.S. Savings Bonds Aaron 46 68.00 750.20 100 Cobb 41 62.00 537.68 110 Clemente 48 70.00 832.64 120 DiMaggio 35 56.00 366.04 0 Griffey, Jr. 45 62.00 641.84 130 Mantle 1,800 342.45 120 Robinson 36 54.00 382.56 130 Williams 2,000 398.24 125 Vaughn 42 62.00 584.72 50 Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1 times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0%, and Medicare tax is 1.5% of each employees annual earnings. The next payroll check to be used is No. 901. Instructions 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 2016. Use the following columns for the payroll register: Employee, Total Hours, Regular Earnings, Overtime Earnings, Total Earnings, Social Security Tax, Medicare Tax, Federal Income Tax, U.S. Savings Bonds, Total Deductions, Net Pay, Ck. No., Sales Salaries Expense, and Office Salaries Expense. 2. Journalize the entry to record the payroll for the week]

Recommended textbooks for you

Corporate Financial Accounting

Accounting

ISBN:

9781305653535

Author:

Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:

Cengage Learning

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Corporate Financial Accounting

Accounting

ISBN:

9781305653535

Author:

Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:

Cengage Learning

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Financial & Managerial Accounting

Accounting

ISBN:

9781285866307

Author:

Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS