The payroll register of Heritage Co. indicates $4,200 of social security withheld and $1,050 of Medicare tax withheld on total salaries of $70,000 for the period. Federal withholding for the period totaled $15,350. Retirement savings withheld from employee paychecks were $2,800 for the period. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank. Salaries Expense   0 Social Security Tax Payable 0   Medicare Tax Payable 0   Employees Federal Income Tax Payable 0   Retirement Savings Deductions Payable 0   Salaries Payable 0

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: Journalize the transactions shown

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

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

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Record the journal entries for each of the following payroll transactions. If an amount box does not…

A: Journal entries: - Journal entries are the initial entries that we make for the business…

Q: Journalizing Payroll Transactions On December 31, the payroll register of Hamstreet Associates…

A: Introduction:- The act of recording or keeping track of any financial or non-financial action is…

Q: The payroll register of Seaside Architecture Company indicates $980 of Social Security and $255 of…

A: Withheld Tax : Withheld tax applicable to employment income.  A withheld tax is a type of income tax…

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: The payroll register of Heritage Co. indicates $12,000 of social security withheld and $3,000 of…

A: Taxes and Deduction of: Social Security Tax Medicare Tax Employees Federal Income Tax  Retirement…

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

A: Salaries means the amount paid to employee for the services rendered.

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

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

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: 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: 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 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 Seaside Architecture Company indicates $980 of Social Security and $254 of…

A: Salaries payable = Salaries expense -Social Security tax payable - Medicare tax payable - Employees…

Q: Journalizing Payroll Transactions On December 31, the payroll register of Hamstreet Associates…

A: Payroll is the compensation amount paid to its employees by a company for a set period and on a…

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

A: Requirement 1)a. Prepare the journal entry to record the payroll on December 30.

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 Seaside Architecture Company indicates $920 of social security and $256 of…

A: Journal Entry It is used to record the business transactions of an enterprises

Q: According to a summary of the payroll of Guthrie Co., $560,000 was subject to the 6.0% social…

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

Q: Record the journal entries for each of the following payroll transactions. If an amount box does not…

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

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: According to a summary of the payroll of Scotland Company, salaries for the period were $400,000.…

A:

Q: Entry for payrolltax expense The payroll register of Clapton Co. indicates $11,340 of social…

A: Payroll taxes are imposed directly or indirectly on employers and employees. It is the percentage of…

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: 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: Journalize Payroll Tax The payroll register of Chen Engineering Co. indicates $1,956 of social…

A: 1. Gross salary = $32,600 2. Federal unemployment Tax = $10,100 x 0.6%=$60.60  3. State unemployment…

Q: Record the journal entries for each of the following payroll transactions. If an amount box does not…

A: In the financial method for an entity, a journal entry documents a commercial activity. Journal…

Q: . The payroll register of Seaside Architecture Company indicates $970 of social security and $257 of…

A: Lets understand the basics. Journal is required to make to record event and transaction that…

Q: The payroll register of Patel Engineering Co. indicates $1,440 of social security withheld and $360…

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

Q: Journalize Period Payroll The payroll register of Wang Engineering Co. indicates $960 of social…

A: Payroll taxes:  Payroll taxes are the taxes withheld by the employers from the wages/salary payable…

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 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: The payroll register of Castilla Heritage Co indicates $2,790 of social security withheld and…

A: Federal Unemployment Taxes = Taxable earnings x Federal Unemployment Taxes rate State Unemployment…

Q: Record the journal entries for each of the following payroll transactions. If an amount box does not…

A: The primary reporting of transactions in the books of accounts is referred to as journal entries.

Q: The payroll register of Seaside Architecture Company indicates $990 of Social Security and $258 of…

A: Salaries Payable = Salaries Expense - Social Security Tax - Medicare Tax - Federal Income Tax =…

Q: According to a summary of the payroll of Sinclair Company, $505,000 was subject to the 6.0% social…

A:

Q: Kinsella Inc. has a gross payroll of $13,500 for the pay period. The entire payroll is subject to…

A: Prepare journal entry to record wages and liabilites:

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: 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: 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: 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.