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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 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

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 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

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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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
Transcribed Image Text: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
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
Transcribed Image Text: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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