Summary Payroll Data In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings:     1. At regular rate ?   2. At overtime rate $70,400   3. Total earnings ? Deductions:     4. Social security tax 28,200   5. Medicare tax 7,050   6. Income tax withheld 119,700   7. Medical insurance 16,200   8. Union dues ?   9. Total deductions 174,000   10. Net amount paid 296,000 Accounts debited:     11. Factory Wages 249,100   12. Sales Salaries ?   13. Office Salaries 94,000

Q: Journalize the transactions shown

A: Calculate Salary expense = Gross salary - Tax payables - Insurance premium payables.

Q: Selected data from a February payroll register for Vaughn Company are presented below. Some amounts…

A: Formula: Total deductions = FICA tax + Federal Income tax + State income tax + Union due. Sum of…

Q: Provide the journal entry to record the payroll tax expense for the period.

A: Given: Withheld social security = $ 4,200 Tax of Medicare = $ 1,050 Total salaries = $ 70,000…

Q: In the following summary of data for a payroll period, some amounts have been intentionally omitted:…

A: Total earnings = Net Amount paid + Total Deduction At regular rate = Total Earnings - At overtime…

Q: Determine the amounts omitted in lines (1), (3), (8), and (12). Journalize the entry to record the…

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

Q: The payroll register for Gamble Company for the week ended April 29 indicated the following:…

A: Journal entry refers to the recording made by the business in the books of accounts, of all the…

Q: Journalize Payroll Tax The payroll register of Heritage Co. indicates $3,900 of social security…

A: A payroll tax is a tax paid on the wages and salaries of employees to finance social insurance…

Q: In the following summary of data for a payroll period, some amounts have been intentionally omitted.…

A: Total Earnings = Net Amount Paid + Total Deductions Earnings at regular rate = Total earnings -…

Q: The payroll register or Longboat Company indicates $5,400 of social security withheld and $1,350 of…

A: Compute state and federal unemployment compensation taxes as shown below:

Q: In the following summary of data for a payroll period, some amounts have been intentionally omitted.…

A: Total Earning = Earning at Regular Rate + Earning at Overtime Rate

Q: In the following summary of data for a payroll period, some amounts have been intentionally omitted:…

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

Q: According to a summary of the payroll of Kirby Co., $380,500 in earnings were subject to the 7.6%…

A: Payroll taxes refers to the taxes that are applicable on the payroll expense of the entity. It…

Q: The payroll register of Chen Heritage Co. indicates $2,220 of social security withheld and $555 of…

A: Introduction: A journal entry is a record of a commercial transaction in an organization's…

Q: The payroll register of Seaside Architecture Company indicates $800 of Social Security and S211 of…

A: Earnings subject to state and Federal unemployment taxes = $5,200 State unemployment tax payable =…

Q: The payroll register of Heritage Co. indicates $13,800 of social security withheld and $3,450 of…

A: State unemployment tax payable= Earnings x State rate= $36000*5.40%= $1944 Federal Unemployment tax…

Q: 1. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize…

A: 1. a. Reference: b. Reference:

Q: The payroll register of Seaside Architecture Company indicates $820 of social security and $215 of…

A: Employer payroll taxes: The taxes which the employer must pay to the employees with their salaries…

Q: In the following summary of data for a payroll period, some amounts have been intentionally omitted:…

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

Q: The payroll register of Patel Engineering Co. indicates $2,916 of social security withheld and $729…

A: Social security and Medicare tax: To give payments to retirees, widows, and surviving children, the…

Q: The payroll register of Seaside Architecture Company indicates $860 of Social Security and $211 of…

A: Federal tax=Unemployment compensation tax×0.8%=$5,300×0.8%=$42.4

Q: In the following summary of data for a payroll period, some amounts have been intentionally…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: În the following summary of data for a payroll period, some amounts have been intention- ally…

A: Payroll Accounting - It is accounting which consists of tracking and filing the data regarding…

Q: In the following summary of data for a payroll period, some amounts have been intentionally…

A: Since you have posted question with multiple sub-parts , we will do the first three sub-parts for…

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: Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $966 of social…

A: State unemployment tax payable = 5000×5.4% =$270

Q: The payroll register of Salem Communications Co. indicates 6.2% of social security withheld and…

A: Payroll taxes are the amount of tax liability that is to be paid on payment of salaries and wages to…

Q: The payroll register of Patel Heritage Co indicates $2,280 of social security withheld and $570.00…

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

Q: (Answer to 11) In the following summary of data for a payroll period, some amounts have been…

A: Payroll: The amount which is paid to and the wages or taxes that are distributed to the employees is…

Q: Gross payroll $19,738 Federal income tax withheld $2,900 Social security rate 6% Federal…

A: Salary payable = Gross Payroll - Federal Income Tax withheld - Social security tax - Medicare -…

Q: According to a summary of the payroll of Guthrie Co., $610,000 was subject to the 6.0% social…

A: Social Security tax payable = Gross payroll x Social Security tax rate = 610000*6% = $36,600…

Q: Nov. 30: Journalized the monthly payroll for November, based on the following data. Description…

A: answers Description Debit Credit Sales Salaries Expense $135,000   Office Salaries…

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: The payroll register of Seaside Architecture Company indicates $820 of social security and $219 of…

A: Solution:- Preparation of journal entry to record the employer payroll taxes expense as follows…

Q: Journalize the entry to record the accrual of payroll.

A: Given information is: According to a summary of the payroll of Scotland Company, salaries for the…

Q: Assume that the social security tax rate is 6% and the Medicare tax rate i 1.5%. In the following…

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

Q: According to a summary of the payroll of Mountain Streaming Co., $110,000 was subject to the 6.0%…

A: In this question, we have been asked to calculate payroll tax expenses for which we have been given…

Q: Summary Payroll Data Assume that the social security tax rate is 6% and the Medicare tax rate is…

A: The income paid to an employee is comprised of various components that make the total income. Taxes…

Q: The payroll register of Heritage Co. indicates $3,900 of social security withheld and $975 of…

A:

Q: The payroll register of Mountainside Architecture Company indicates $1,360 of Social Security and…

A: State Unemployment tax payable = taxable amount x  State Unemployment tax rate = 5200*5.4% = $280.80…

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

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

Q: Recording Payroll and Payroll Taxes The following information about the payroll for the week ended…

A: Journal Entries

Q: Journalize Period Payroll The payroll register of Wang Engineering Co. indicates $1,860 of social…

A: Payroll is the system related to the recording and maintenance of salary structure in the…

Q: Summary Payroll Data In the following summary of data for a payroll period, some amounts have been…

A: Hey, Since there are multiple questions posted, we will answer first question. If you want any…

Q: e payroll register of Seaside Architecture Company indicates $970 of Social Security and $258 of…

A: INTRODUCTION: Payroll is the remuneration that a company must pay its employees for a specified…

Q: Summary Payroll Data In the following summary of data for a payroll period, some amounts have been…

A: a. Calculate the omitted amounts in line (1), (3), (8) and (12).(3) Calculate the amount of total…

Q: Income Taxes Payable was credited for $7,500 in the entry when Antonio Company recorded payroll.…

A: Income taxes payable is the liability for payment of income taxes.

Q: Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $2,700 of social…

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

Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.