Required: Prepare a journal entry to record the employer's share of payroll deductions. (Round the final answers to 2 decimal places.)

Q: The payroll register includes sections for​ recording:

A:

Q: In order to confirm the previous clerk's payroll calculations, you have been asked to supply the…

A: Payroll taxes are the taxes paid on the wages and salaries of employees. It is the taxes withheld by…

Q: Complete the FWT (wage-bracket method) and SWT columns of the payroll register using the employee…

A: Under wage bracket method, federal withholdings are calculated on the basis of number of allowances,…

Q: Determine the amount of Social Security and Medicare taxes to be withheld. If required, round your…

A: Particulars Wages % Amount Social Security Tax  $ 7,600 6.20% $ 471.20 Medicare Tax $ 8,400…

Q: During the month of January, an employer incurred the following payroll taxes: FICA Social Security…

A: The journal entries are prepared to record the transactions on the regular basis.

Q: Parry Paint LLC started operations on January 1, 2019. It had the following payroll transactions…

A: Income tax payable=Gross pay×rate=$2,000×15%=$300

Q: Which of the following methods of payroll calculation offers minimum wage standards and overtime…

A: Hourly Rate of Pay:- This method helps in calculating the payroll amount of an employee on an hourly…

Q: he payroll records of Brownlee Company provided the following information for the weekly pay period…

A: The payroll register is the one in which all the details of the employees such as days and hours…

Q: Which of the following is NOT included in the payroll register?  Select one: Assignment of the…

A: Payroll register: Payroll register is a form that is used by an employer to gather information on…

Q: When recording payroll tax expense, employers will generally include which of the following…

A: Gross pay of an employee is to be deducted for several taxes and then those taxes are the liability…

Q: What is included in the journal entry to record the employer amount of the payroll? Assume gross…

A: Solution- Payroll journal entries are used to record the compensation paid to employees. These…

Q: Assume that the MUST Co. pays a weekly payroll. Using the portion of the Wage Bracket Withholding…

A:

Q: The deparment that should pay the payroll is the: a. payroll deparment b. human resources…

A: Each business organization categorized their operations into different departments for example…

Q: An employee has a net payroll amount of $5,064.50. What is the correct journal entry to record this…

A: The journal entries are a crucial step of the accounting process as it records the accounting…

Q: Determine the total taxable earnings for unemployment, Social Security, and Medicare.

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

Q: I am working on the chapter 7 payroll project for cengage and I don't know how to do Holdiay pay for…

A: Payroll register: Payroll register can be defined as the hard copy or a register that records all…

Q: An employee has total gross wages of $7,000, Federal Unemployment Expense, and State Unemployment…

A: Unemployment taxes: It is one of the payroll taxes that is withheld from the employee’s wages. It is…

Q: Describe the types of application control used for the following data in a payroll system.a.…

A: Payroll system:

Q: n recording the payroll, the debit to an expense represents: Group of answer choices deductions…

A: The payroll journal entry is the initial recognition of payroll.

Q: Provide the journal entry for the period's payroll. If an amount box does not require an entry,…

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

Q: This problem continues the process of preparing the Kipley Company's Employee Payroll Register for…

A: Employee payroll register is a book in which all the records of all the employees for the particular…

Q: Calculation and Journal Entry for Employer Payroll Taxes Earnings for several employees for the…

A:

Q: Assume that the company is subject to a two percent state unemployment tax (due to a favorable…

A: Journal entries are the entries to be recorded for all the business transactions in the accounting…

Q: The following information is noted on the year end payroll register for an employee employed with a…

A: Payroll Register: It is the slip or register in which the pay and allowances of the employees are…

Q: Required: a) Fill up the payroll sheets provided for the month of March for the current year using…

A: Payroll taxes: Payroll taxes can be defined as the amount of tax collected from the employer and…

Q: The totals from the first payroll of the year are shown below.​ Total Earnings FICA OASDI FICA…

A: Payroll tax: A payroll tax is a tax withheld from an employee's salary by an employer who remits it…

Q: An employee has total gross wages of $7,000, Federal Unemployment Expense, and State Unemployment…

A: FICA ( Federal Insurance Contribution Act) taxes refers to the deductions from the gross earnings of…

Q: Provide the journal entry to record the payroll tax expense for the period. If an amount box does…

A: The imposition of the tax liability on the salaries of the employer or the employee is known as…

Q: During the month of January, an employer incurred the following payroll taxes FICA Social Security…

A: Payroll tax expense = FICA social security tax + FICA Medicare tax + FUTA taxes + SUTA taxes

Q: This problem continues the computing and recording employee payroll for the Olney Company for the…

A: Federal Unemployment Taxes (FUTA) Implementation of Federal Unemployment Taxes (FUTA) at the time of…

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

A: Payroll refers to the payment to be made by the employer to the employees for the services rendered…

Q: An employer must always use a calendar year for payroll purposes. Agree or disagree and explain your…

A: Payroll refers to the amount of salaries or compensation paid to employees by the firm. It includes…

Q: What information is necessary to record payroll transactions? Which account is used to record an…

A: A payroll is set of information which entails the various monetary benefits that employees draw from…

Q: The information on earnings and deductions for the pay period ended December 14 from King Company's…

A: Payroll tax expense includes Social Security taxes withheld payable, Medicare Taxes payable, State…

Q: Calculation and Journal Entry for Employer Payroll Taxes 1.  Calculate the employer's payroll taxes…

A: Employer payroll tax expense:

Q: What is the source of data used to:  a. Record the distribution of the payroll. b. Record the…

A: Payroll accounting is the recording of all payroll transactions in your books. It helps you to keep…

Q: Identify all correct statements concerning payrolls andrelated payroll costs.a. Both employers and…

A: Payroll refers to the slip of payment to the employees. It also includes the calculation and…

Q: Journalize each of the payroll transactions listed below. Post all entries except the last two to…

A: Payroll Journal Entries Payroll journal entries are used to keep a track record of compensation paid…

Q: The totals from the first payroll of the year are shown below. Total Earnings   FICA OASDI   FICA HI…

A: Payroll Accounting: The process of payroll accounting includes the computation and payment of…

Q: Prepare a data flow diagram and a system flowchart of the payroll procedures previously described

A:

Q: Journal entry Complete the following Prepare the journal entries as of January 12 to record the…

A: Journal entries as of January 12 to record the payroll and the payroll taxes: Date Account…

Q: The totals from the first payroll of the year are shown below. Total Earnings   FICA OASDI   FICA HI…

A: FICA tax=FICA OASDI+FICA HI=$2,244.10+$524.83=$2,768.93

Q: 1. Record the entries for the payment of payroll and the employer's payroll tax expense in the…

A: Payroll tax expense = 67.69+15.82+74.00+21.84 = 179.35 Total Deductions includes Union dues of 10.80…

Q: The totals from the first payroll of the year are shown below. Total FICA State Union Net FICA НІ…

A: Solution:- Given, We have the information of totals from the first payroll of the year.

Q: Calculation of Taxable Earnings and Employer Payroll Taxes, and Preparation of Journal Entry 1.…

A: Payroll tax:   Payroll tax refers to the tax that are equally contributed by employees and employer…

Q: irections for Assignment A: eeknet Company's payroll register has the following totals for the…

A: Cash Payment Journal All cash payments (or disbursements) made by the company are recorded in a cash…

Q: 1. Journalize the entry to record the payroll. 2. Journalize the entry to record the employer's…

A: Payroll Payroll is considered to be one of the important segment in the entity and to distribute…

Q: The following information is noted on the year end payroll register for an employee employed with a…

A: RL -1 is the one which states the contribution made to the private health services plan for 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.