Required information [The following information applies to the questions displayed below.] Bobby Darling is the only employee of Atlantic Records, Inc. During the first week of January, Darling earned $1,600.00 and had federal and state income tax withholdings of $80.00 and $30.00, respectively. FICA taxes are 7.65 % on earnings up to $117,000. State and federal unemployment taxes for the period are $100.00 and $16.00, respectively. What is the employer's payroll tax expense for the week? Multiple Cholce $348.40 $238.40 $470.80 $226.00

Q: Townson Company had gross wages of $200,000 during the week ended December 10. The amount of wages…

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

Q: Ehrlich Co. began business on January 2, 20Y8. Salaries were paid to employees on the last day of…

A: a.

Q: Ehrlich Co. began business on January 2, 20Y8. Salaries were paid to employees on the last day of…

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

Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…

A: Social security tax deduction = Gross payroll x Social security rate = $19,352 x 6% = $1161.12…

Q: The annual accounting period ends December 31. On December 31, calculated the payroll, which…

A: Journal entries are recorded in a chronological manner and it forms first step in recording every…

Q: Townson Company had gross wages of $200,000 during the week ended December 10. The amount of wages…

A: Social Security tax payable = Gross wages × 6% = $200, 00×6% = $12, 000

Q: Cruz Company has gathered the information needed to complete its Form 941 for the quarter ended…

A: Form 941: Form 941 deals with Employer’s Quarterly Federal Tax Return which must be filed by the…

Q: Widmer Company had grosswages of $320,000 during the week ended June 17. The amount of wages subject…

A: Journal entries are the reporting of the transactions in the books of accounts to maintain a record…

Q: In January, gross earnings in Kemstar Company totalled $90,000. All earnings are subject to Standard…

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

Q: During the month of March, Preston Company's employees earned wages of $90,000. Withholdings related…

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

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

A: Payroll taxes are charges forced on employers or workers and are typically determined as a level of…

Q: Montana Company recorded the month's salary expense for employees on December 31, including $800,000…

A: Salaries expense = $800,000 Federal tax withholdings = $192,000 FICA tax withholdings = $64,000

Q: Lynden Company has the following balances in its general ledger as of June 1 of this year: a. FICA…

A: Definition:

Q: Vulcra, Inc., has a semimonthly payroll of $67,000 on September 15, 20--. The total payroll is…

A: Journal entry for payment of wages, and payroll taxes on 15 September

Q: Lee Company has the following information for the pay period of December 15–31: Gross payroll…

A: Given that: Gross payroll = $15416 Social security taxes = 6% Medicare rate = 1.5% Federal income…

Q: The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $200,000;…

A: Requirement 1:Calculation of the amount of premium paid by the employee& employer

Q: Dish Pan Company has 4 employees.  Information about the third week in November payroll…

A: (a). Payroll Register:                           Hrs worked Hourly rate Ann Earn prior…

Q: During the month of February, Bramble Corp's employees earned wages of $108,000. Withholdings…

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

Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…

A: Social security tax = Gross payroll × 6% Federal unemployment tax and state unemployment tax are not…

Q: Lee Financial Services pays employees monthly. Payroll information is listed below for January 2021,…

A: Compute income and payroll taxes for January 2021 as shown below:

Q: Liam Wallace is general manager of Worldwide Salons. During 2018Wallace worked for the company all…

A: Particulars Amount Yearly salary(12900*12) 154800 Add: Bonus @15% of the annual salary 23220…

Q: Donner Company began its operations in September of the current year. During September, the company…

A: Solution:- a)Is Donner Company liable for FUTA tax this year as follows:- The Federal Unemployment…

Q: Lee Company has the following information for the pay period of December 15–31: ​ Gross payroll…

A: Social Security tax payable = Gross payroll x Social security rate = 16,000 x 6% = 960

Q: Sandler Company completed the following two transactions. The annual accounting period endsDecember…

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

Q: Kenneth Noll’s gross earnings for the week were $2,600, his federal income tax withholding was $468,…

A: 1.Determine the net pay.

Q: Required: If an amount box does not require an entry, leave it blank. 1a.  Assuming that the…

A: Payroll accounting can be defined as the branch under the accounting system which records the…

Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…

A: Salaries payable is the amount of salary which is due but not yet paid.

Q: Urban Window Company had gross wages of $360,000 during the week ended July 15. The amount of wages…

A: Social Security tax = Social Security Taxable Earnings x Social Security tax rate = $360,000*6.20% =…

Q: The following monthly data are taken from Ramirez Company at July 31: sales salaries, $200,000;…

A: Hey there since you have posted multiple questions, we can answer only first questions, please…

Q: Widmer Company had gross wages of $370,000 during the week ended June 17. The amount of wages…

A: Social Security tax Payable = Gross wages x Social Security tax rate = 370000*6% = $22200

Q: Rand Company’s payroll on December 31 of the current year is as follows: • total payroll, $500,000 •…

A: Introduction:- Preparation of the journal entries for Rand’s payroll and payroll taxes as follows:-…

Q: Precision Labs has two employees. The following information was taken from its individual earnings…

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

Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…

A: Salaries payable are calculated by deducting social security rate, Medicare rate and Federal income…

Q: As of February 28, American Greetings Corporationhad 7,400 full-time and 17,400 part-time…

A: Definition: Payroll tax: The costs incurred by an employer to pay the employee for his labor,…

Q: In January, gross earnings in Coronado Company were $36,000. The 7.65% FICA tax rate consists of the…

A: Payroll tax is defined as the percentage that is withheld from the pay of the employee through…

Q: Assuming no employees are subject to ceilings for taxes on their earnings, Salaries Payable would be…

A: Salaries are paid to employees net of the taxes and employees contribution withheld.  As per thr tax…

Q: During the month of February, Bridgeport Corp's employees earned wages of $79,920. Withholdings…

A: Given that total employees earned wages is $ 79920 Salaries and wages payable = Total employee…

Q: According to a payroll register summary of Swifty Company, the amount of employees' gross pay in…

A: Payroll tax expense = FICA taxes payable + State unemployment taxes payable + Federal unemployment…

Q: Addidas Co. had total payroll of $40,000 for the week ending March 5. The FICA rate is 7.65%,…

A: INTRODUCTION: A journal entry is a record of a commercial contract in a company's accounting system.…

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: Lakeview Company completed the following two transactions. The annual accounting period ends…

A: Prepare the journal entries for the given transactions:

Q: Namsky Co. has the following information for the pay period of December 15 - 31: Gross Payroll…

A: To calculate the salary payable we have to use the following formula; Salaries payable = Gross…

Q: Urban Window Company had gross wages of $200,000 during the week ended July 15. The amount of wages…

A: Payroll tax expense is the holding account which is used for tracking the employer contributions…

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

A: Please find the answers to the above questions below:

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

A: 1a.Prepare journal entry to record the payroll on December 30.

Q: repare the entry to record January payroll tax expense

A: Journal entry: Journal entry is the book of original entry where first transactions are recorded in…

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…

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.