The payroll register for a payroll period for Ceramic Company has been completed.Assume the following payroll tax rates:1 /8 S00FICA-OASDI tax, 6.2 % on the first- of earnings.FICA-Medicare tax, 1.45% on all earningsState unemployment tax, 5.4% on the first $7,000 of earnings.Federal unemployment tax, 0.6% on the first $7,000 of earnings.1. Journalize the payroll for the October 31, 20XX pay period.2. Journalize Ceramic Company's expenses for employer payroll taxes for the pay period.3. Journalize the payment to employees.4. Journalize the payment of withholdings and employer taxes.20 BOuc EarningsWithholdingsBeginningSalaries andEndingCurrentCheckWagesHealthUnitedPeriodCumulativeIncomeCumulativeTotalExpenseNet PayNo.WithholdingsWay$ 15.00InsuranceТаxEarnings$ 4,500.00 $ 81,500.00119,200OASDIMedicareEarnings$ 77,000.00Earnings$ 4,500.00$ 90.00$ 3,150.75801$ 1,349.25$900.00$ 279.0065.257,200.008025,313.6035.001,886.40144.001,200.00104.40403.00*7,200.00112,000.003,300.008032,381.55918.450.0066.00600.0047.85204.6051,300.0048,000.0061,000.003,300.003,300.008042,111.551,188.4520.0066.00850.0047.85204.6064,300.003,300.004,500.008052,965.751,534.250.0090.001,100.0065.25279.004,500.004,500.00$ 22,800.00 $320,800.00$ 22,800.000$6,876.80 $15,923.2070.00$ 456.00$ 330.60 $4,650.00$1,370.20$298,000.00

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Asked Nov 17, 2019
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The payroll register for a payroll period for Ceramic Company has been completed.
Assume the following payroll tax rates:
1 /8 S00
FICA-OASDI tax, 6.2 % on the first- of earnings.
FICA-Medicare tax, 1.45% on all earnings
State unemployment tax, 5.4% on the first $7,000 of earnings.
Federal unemployment tax, 0.6% on the first $7,000 of earnings.
1. Journalize the payroll for the October 31, 20XX pay period.
2. Journalize Ceramic Company's expenses for employer payroll taxes for the pay period.
3. Journalize the payment to employees.
4. Journalize the payment of withholdings and employer taxes.
20 BOuc
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The payroll register for a payroll period for Ceramic Company has been completed. Assume the following payroll tax rates: 1 /8 S00 FICA-OASDI tax, 6.2 % on the first- of earnings. FICA-Medicare tax, 1.45% on all earnings State unemployment tax, 5.4% on the first $7,000 of earnings. Federal unemployment tax, 0.6% on the first $7,000 of earnings. 1. Journalize the payroll for the October 31, 20XX pay period. 2. Journalize Ceramic Company's expenses for employer payroll taxes for the pay period. 3. Journalize the payment to employees. 4. Journalize the payment of withholdings and employer taxes. 20 BOuc

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Earnings
Withholdings
Beginning
Salaries and
Ending
Current
Check
Wages
Health
United
Period
Cumulative
Income
Cumulative
Total
Expense
Net Pay
No.
Withholdings
Way
$ 15.00
Insurance
Таx
Earnings
$ 4,500.00 $ 81,500.00
119,200
OASDI
Medicare
Earnings
$ 77,000.00
Earnings
$ 4,500.00
$ 90.00
$ 3,150.75
801
$ 1,349.25
$
900.00
$ 279.00
65.25
7,200.00
802
5,313.60
35.00
1,886.40
144.00
1,200.00
104.40
403.00*
7,200.00
112,000.00
3,300.00
803
2,381.55
918.45
0.00
66.00
600.00
47.85
204.60
51,300.00
48,000.00
61,000.00
3,300.00
3,300.00
804
2,111.55
1,188.45
20.00
66.00
850.00
47.85
204.60
64,300.00
3,300.00
4,500.00
805
2,965.75
1,534.25
0.00
90.00
1,100.00
65.25
279.00
4,500.00
4,500.00
$ 22,800.00 $320,800.00
$ 22,800.00
0
$6,876.80 $15,923.20
70.00
$ 456.00
$ 330.60 $4,650.00
$1,370.20
$298,000.00
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Earnings Withholdings Beginning Salaries and Ending Current Check Wages Health United Period Cumulative Income Cumulative Total Expense Net Pay No. Withholdings Way $ 15.00 Insurance Таx Earnings $ 4,500.00 $ 81,500.00 119,200 OASDI Medicare Earnings $ 77,000.00 Earnings $ 4,500.00 $ 90.00 $ 3,150.75 801 $ 1,349.25 $ 900.00 $ 279.00 65.25 7,200.00 802 5,313.60 35.00 1,886.40 144.00 1,200.00 104.40 403.00* 7,200.00 112,000.00 3,300.00 803 2,381.55 918.45 0.00 66.00 600.00 47.85 204.60 51,300.00 48,000.00 61,000.00 3,300.00 3,300.00 804 2,111.55 1,188.45 20.00 66.00 850.00 47.85 204.60 64,300.00 3,300.00 4,500.00 805 2,965.75 1,534.25 0.00 90.00 1,100.00 65.25 279.00 4,500.00 4,500.00 $ 22,800.00 $320,800.00 $ 22,800.00 0 $6,876.80 $15,923.20 70.00 $ 456.00 $ 330.60 $4,650.00 $1,370.20 $298,000.00

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Expert Answer

Step 1

1.

Journalize the payroll for the October 31, 20xx pay period.

Accounts and Explanation
Salaries and Wages Expense
Date
Debit
Credit
October
22,800.00
31, 20XX
Employee Income Taxes Payable
FICA OASDI Taxes Payable
FICA-Medicare Taxes Payable
Health Insurance Payable
United Way Payable
Salaries and Wages Payable
(To record salaries and wages expense
and payroll withholdings)
4,650.00
1,370.20
330.60
456.00
70.00
15,923.20
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Accounts and Explanation Salaries and Wages Expense Date Debit Credit October 22,800.00 31, 20XX Employee Income Taxes Payable FICA OASDI Taxes Payable FICA-Medicare Taxes Payable Health Insurance Payable United Way Payable Salaries and Wages Payable (To record salaries and wages expense and payroll withholdings) 4,650.00 1,370.20 330.60 456.00 70.00 15,923.20

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Step 2

2.

Journalize Ceramic Company’s expenses for employer payroll taxes.

Accounts and Explanation
Credit
Date
Debit
Payroll Tax Expense
FICA OASDI Taxes Payable
FICA Medicare Taxes Payable
Federal Unemployment Taxes Payable
(0.6%x $4,500 (first $7,000 only))
State Unemployment Taxes Payable
(5.4%x $4,500 (first $7,000 only))
(To record employer's payroll tax expense)
1,970.80
1,370.20
330.60
27.00
243.00
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Accounts and Explanation Credit Date Debit Payroll Tax Expense FICA OASDI Taxes Payable FICA Medicare Taxes Payable Federal Unemployment Taxes Payable (0.6%x $4,500 (first $7,000 only)) State Unemployment Taxes Payable (5.4%x $4,500 (first $7,000 only)) (To record employer's payroll tax expense) 1,970.80 1,370.20 330.60 27.00 243.00

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Step 3

3.

Journalize the payment...

Accounts and Explanation
Salaries and Wages Payable
Cash
Date
Debit
Credit
15,923.20
15,923.20
(To record payment to employees)
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Accounts and Explanation Salaries and Wages Payable Cash Date Debit Credit 15,923.20 15,923.20 (To record payment to employees)

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