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Selected information from the payroll register of Barbara's Stables for the week ended September 28, 20--, is as follows: Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% of gross earnings, FUTA tax is 0.8%, and SUTA tax is 5.4% each on the first $7,000 of earnings.   Cumulative Pay Current Taxable Earnings Employee Name Before Current Earnings Gross Pay Unemployment Compensation Social Security Carlosi, Peggy $ 84,240        $2,350        Sanchez, Carmela 81,900        2,100        Delaney, Roger 109,800        3,320        Weitz, Alana 6,300        1,100        Dunhill, Craig 6,800        1,000        Bella, Stephen 42,330        1,850        Required: 1. Calculate the amount of taxable earnings for unemployment and Social Security taxes.   Cumulative Pay   Taxable Earnings Employee Name Before Current Earnings Current Gross Pay Unemployment Compensation Social Security Carlosi, Peggy $84,240      $2,350       $fill in the blank f3389605e06bfd4_1 $fill in the blank f3389605e06bfd4_2 Sanchez, Carmela 81,900      2,100       fill in the blank f3389605e06bfd4_3 fill in the blank f3389605e06bfd4_4 Delaney, Roger 109,800      3,320       fill in the blank f3389605e06bfd4_5 fill in the blank f3389605e06bfd4_6 Weitz, Alana 6,300      1,100       fill in the blank f3389605e06bfd4_7 fill in the blank f3389605e06bfd4_8 Dunhill, Craig 6,800      1,000       fill in the blank f3389605e06bfd4_9 fill in the blank f3389605e06bfd4_10 Bella, Stephen 42,330      1,850       fill in the blank f3389605e06bfd4_11 fill in the blank f3389605e06bfd4_12   $fill in the blank f3389605e06bfd4_13 $fill in the blank f3389605e06bfd4_14 $fill in the blank f3389605e06bfd4_15 $fill in the blank f3389605e06bfd4_16 2. Prepare the journal entry to record the employer's payroll taxes as of September 28, 20--. If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Page: 1   DATE DESCRIPTION POST. REF. DEBIT CREDIT   1 Sep. 28     fill in the blank c70ff9f6bfcd035_2 fill in the blank c70ff9f6bfcd035_3 1 2       fill in the blank c70ff9f6bfcd035_5 fill in the blank c70ff9f6bfcd035_6 2 3       fill in the blank c70ff9f6bfcd035_8 fill in the blank c70ff9f6bfcd035_9 3 4       fill in the blank c70ff9f6bfcd035_11 fill in the blank c70ff9f6bfcd035_12 4 5       fill in the blank c70ff9f6bfcd035_14 fill in the blank c70ff9f6bfcd035_15 5

Selected information from the payroll register of Barbara's Stables for the week ended September 28, 20--, is as follows: Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% of gross earnings, FUTA tax is 0.8%, and SUTA tax is 5.4% each on the first $7,000 of earnings.   Cumulative Pay Current Taxable Earnings Employee Name Before Current Earnings Gross Pay Unemployment Compensation Social Security Carlosi, Peggy $ 84,240        $2,350        Sanchez, Carmela 81,900        2,100        Delaney, Roger 109,800        3,320        Weitz, Alana 6,300        1,100        Dunhill, Craig 6,800        1,000        Bella, Stephen 42,330        1,850        Required: 1. Calculate the amount of taxable earnings for unemployment and Social Security taxes.   Cumulative Pay   Taxable Earnings Employee Name Before Current Earnings Current Gross Pay Unemployment Compensation Social Security Carlosi, Peggy $84,240      $2,350       $fill in the blank f3389605e06bfd4_1 $fill in the blank f3389605e06bfd4_2 Sanchez, Carmela 81,900      2,100       fill in the blank f3389605e06bfd4_3 fill in the blank f3389605e06bfd4_4 Delaney, Roger 109,800      3,320       fill in the blank f3389605e06bfd4_5 fill in the blank f3389605e06bfd4_6 Weitz, Alana 6,300      1,100       fill in the blank f3389605e06bfd4_7 fill in the blank f3389605e06bfd4_8 Dunhill, Craig 6,800      1,000       fill in the blank f3389605e06bfd4_9 fill in the blank f3389605e06bfd4_10 Bella, Stephen 42,330      1,850       fill in the blank f3389605e06bfd4_11 fill in the blank f3389605e06bfd4_12   $fill in the blank f3389605e06bfd4_13 $fill in the blank f3389605e06bfd4_14 $fill in the blank f3389605e06bfd4_15 $fill in the blank f3389605e06bfd4_16 2. Prepare the journal entry to record the employer's payroll taxes as of September 28, 20--. If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Page: 1   DATE DESCRIPTION POST. REF. DEBIT CREDIT   1 Sep. 28     fill in the blank c70ff9f6bfcd035_2 fill in the blank c70ff9f6bfcd035_3 1 2       fill in the blank c70ff9f6bfcd035_5 fill in the blank c70ff9f6bfcd035_6 2 3       fill in the blank c70ff9f6bfcd035_8 fill in the blank c70ff9f6bfcd035_9 3 4       fill in the blank c70ff9f6bfcd035_11 fill in the blank c70ff9f6bfcd035_12 4 5       fill in the blank c70ff9f6bfcd035_14 fill in the blank c70ff9f6bfcd035_15 5

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 4E
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  1. Selected information from the payroll register of Barbara's Stables for the week ended September 28, 20--, is as follows: Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% of gross earnings, FUTA tax is 0.8%, and SUTA tax is 5.4% each on the first $7,000 of earnings.

      Cumulative Pay Current Taxable Earnings
    Employee Name Before Current
    Earnings    		 Gross
    Pay    		 Unemployment
    Compensation    		 Social
    Security
    Carlosi, Peggy $ 84,240        $2,350       
    Sanchez, Carmela 81,900        2,100       
    Delaney, Roger 109,800        3,320       
    Weitz, Alana 6,300        1,100       
    Dunhill, Craig 6,800        1,000       
    Bella, Stephen 42,330        1,850       

    Required:

    1. Calculate the amount of taxable earnings for unemployment and Social Security taxes.

      Cumulative Pay   Taxable Earnings
    Employee Name Before Current
    Earnings    		 Current
    Gross
    Pay    		 Unemployment
    Compensation    		 Social
    Security
    Carlosi, Peggy $84,240      $2,350       $fill in the blank f3389605e06bfd4_1 $fill in the blank f3389605e06bfd4_2
    Sanchez, Carmela 81,900      2,100       fill in the blank f3389605e06bfd4_3 fill in the blank f3389605e06bfd4_4
    Delaney, Roger 109,800      3,320       fill in the blank f3389605e06bfd4_5 fill in the blank f3389605e06bfd4_6
    Weitz, Alana 6,300      1,100       fill in the blank f3389605e06bfd4_7 fill in the blank f3389605e06bfd4_8
    Dunhill, Craig 6,800      1,000       fill in the blank f3389605e06bfd4_9 fill in the blank f3389605e06bfd4_10
    Bella, Stephen 42,330      1,850       fill in the blank f3389605e06bfd4_11 fill in the blank f3389605e06bfd4_12
      $fill in the blank f3389605e06bfd4_13 $fill in the blank f3389605e06bfd4_14 $fill in the blank f3389605e06bfd4_15 $fill in the blank f3389605e06bfd4_16

    2. Prepare the journal entry to record the employer's payroll taxes as of September 28, 20--. If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank.

    Page: 1
      DATE DESCRIPTION POST.
    REF.    		 DEBIT CREDIT  
    1 Sep. 28     fill in the blank c70ff9f6bfcd035_2 fill in the blank c70ff9f6bfcd035_3 1
    2       fill in the blank c70ff9f6bfcd035_5 fill in the blank c70ff9f6bfcd035_6 2
    3       fill in the blank c70ff9f6bfcd035_8 fill in the blank c70ff9f6bfcd035_9 3
    4       fill in the blank c70ff9f6bfcd035_11 fill in the blank c70ff9f6bfcd035_12 4
    5       fill in the blank c70ff9f6bfcd035_14 fill in the blank c70ff9f6bfcd035_15 5
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