The payroll register for Star Express & Company for the pay period ended January 31, 20--, showed the following: Total Earnings $834,000.00 Taxable Earnings:      FUTA 6,700.00    SUTA 6,700.00    Social Security 787,000.00 Deductions:      Federal income tax 129,600.00    Social Security tax 48,794.00    Medicare tax 11,411.50    Pension plan 38,450.00    Health insurance 23,400.00    United Way 16,000.00 The Social Security tax rate is 6.2%, Medicare tax is 1.45%, FUTA tax is 0.8%, and SUTA tax is 5.4%. Required: 1. Prepare a journal entry to record the payroll on January 31, 20--. If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank.

Q: The payroll register for Kronberg Company indicates $13,200 of social security withheld and $3,300…

A: Total Salaries is the Gross Salary for the company to give out to the employees In a payroll…

Q: The payroll register of Ruggerio Co. indicates $10,500 of social security withheld and $2,625 of…

A:

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

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

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following:…

A: Journal entry: It is the duty of the accountant to record business economic and non-economic…

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

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

Q: ng to a summary of the payroll of Scotland Company, $450,000 was sub cial security tax and $500,000…

A: The acronym SUTA stands for State Unemployment Tax which has been deducted for the unemployed…

Q: Jack's Lawn Service Company has the following information related to its current year payroll as of…

A:

Q: The following totals for the month of June were taken from the payroll register of Arcon Company:…

A: Salaries expense represents the gross salaries earned by the employees. All the deductions like…

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: The payroll register of Heritage Co. indicates $4,200 of social security withheld and $1,050 of…

A: Payroll seems to be the total of all remuneration that a company should provide to its employees…

Q: The following totals for the month of June were taken from the payroll register of Arcon Company:…

A: Journal entries should not be used to record routine transactions such as customer billings and…

Q: The payroll register of Clapton Co. indicates $11,340 of social security withheld and $2,835 of…

A: Directly or indirectly employees and employers are liable for payroll taxes. The employer bore the…

Q: Portions of the payroll register for Barney's Bagels for the week ended July 15 are shown below. The…

A: Employer Payroll tax expense = Social Security tax + Medicare tax + FUTA tax + SUTA tax

Q: The payroll register of Ruggerio Co. indicates $13,920 of social security withheld and $3,480 of…

A: Journal entry to record the payroll tax expense for the period: Date Description Debit Credit…

Q: The following totals for the month of April were taken from the payroll register of Waterway…

A: Definition:   Payroll tax: The costs incurred by an employer to pay the employee for his labor,…

Q: The following information is taken from the payroll records of ABC Company for the current payroll…

A: Answer 1) Employee payroll

Q: Assuming no employees are subject to ceilings for their earnings, Jenkins  Company has the following…

A: Social security and Medicare tax rates are based on gross payroll. The federal income tax withheld,…

Q: The payroll register for Star Express & Company for the pay period ended January 31, 20--, showed…

A: Journal entries: Date Account journal Debit $ Credit $ Jan 31 Salaries and wages expense…

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: 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: The payroll register of Ruggerio Co. indicates $10,500 of social security withheld and $2,625 of…

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

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

A: Date Accounts title and explanation Debit ($) Credit ($) Dec-30 Sales salaries expense $ 350,000…

Q: According to a summary of the payroll of Scofield Industries Co., $600,000 was subject to the 6.0%…

A: 1. STATE UNEMPLOYMENT TAXES : = $20,000 X 4.2 % = $840   2. FEDERAL UNEMPLOYMENT TAXES : = $20,000…

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 totals line from Nix Company’s payroll register for the week ended March 31, 20--, is shown:…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: For the third quarter of the year, Johnson Company, 415 Circle Avenue, Chicago, Illinois 60652,…

A: Form 941: Form 941 shows the Quarterly report of the liabilities of the employee's federal tax,…

Q: The payroll register of Sara Company indicates $5,850 of social security tax withheld and $1,600 of…

A: Introduction: Payroll tax expense account is indeed the holding account used to keep track of the…

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

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

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

A: Salary expense include basic salary and all type of allowance provided by the company in addition to…

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

A: Answer a:

Q: For the year ended December 31, 2020, Bramble Electrical Repair Company reports the following…

A: a.

Q: According to a summary of the payroll of Scotland Company, salaries for the period were $500,000.…

A: Social Security tax = Taxable Earnings x Social Security tax rate = $500,000*6.00% = $30,000…

Q: The payroll register for Automotive Service Center for the pay period ended June 30, 20--, showed…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: For the year ended December 31, 2022, Crane Electrical Repair Company reports the following summary…

A: Tax refers to the amount charged by the government from the individuals and organizations on the…

Q: According to a summary of the payroll of Scotland Company, total salaries were $500,000.  Assume…

A:

Q: The following totals for the month of June were taken from the payroll register of Arcon Company:…

A: Journal is the book of original entry in which all the transactions of the business are recorded…

Q: For all payroll calculations, use the following tax rates and round amounts to the nearest cent…

A: Long-term notes payable: Long-term notes payable represent a legal and written promise made by the…

Q: $350,000  Warehouse salaries 182,000  Office salaries 136,000   $668,000     Deductions:

A: Payroll is  remuneration that a company owes to its employees for a specific period of timeon a…

Q: The payroll register of Salem Communications Co. indicates $29,580 of social security withheld and…

A: Debit the receiver and credit the giver. Debit what comes in and credit what goes out. Debit…

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

A: A.Prepare journal entry to record the payroll for the week of April 29.

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: The payroll register of Clapton Co. indicates $11,340 of social security withheld and $2,835 of…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

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

A:

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

A: Journal entries for recording the payroll and payroll tax for April 29.

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 payroll register for Automotive Service Center for the pay period ended June 30, 20--, showed…

A: Payroll expenses :  Payroll expense is the amount of salaries and wages paid to employees in…

Q: The payroll register of Seaside Architecture Company indicates $960 of social security and $260 of…

A: Payroll is the automation of settling the dues towards the employees of the organization and the…

Q: The following totals for the month of April were taken from the payroll records of Nash's Trading…

A: Journal entry is the process of recording the business transactions in the books of accounts for the…

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following:…

A: Payroll tax expenses are the expenses which is related to payroll of an employee deduct by the…

Q: According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social…

A: SUTA is the state unemployment tax. The employers are required to pay SUTA taxes because these are…

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.