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- Design a salary slip for the month of December 2021 with information given below. Fixed vs variable ratio- 70:30Ctc - 18LBasic- 50%Hra- 20%Da - 12%Travel allowance- 2000Insurance - 2500Incentive- 75% target completionPf 12%Earned leaves - 2LOP - 4 Prepare the assignment in Ms excelDesign a salary slip for the month of December 2021 with information given below. Fixed vs variable ratio- 70:30Ctc - 24LBasic- 50%Hra- 22%Da - 12%Travel allowance- 2000Insurance - 9800Employee has completed 75% of the target Pf 12%leaves - 4 ( 2 permitted) Reimbursement - 2500Design a salary slip for the month of December 2021 with information given below. Fixed vs variable ratio- 70:30Ctc - 24LBasic- 50%Hra- 22%Da - 12%Travel allowance- 2000Insurance - 9800Incentive- 75% target completionPf 12%leaves - 4 ( 2 permitted)
- The totals line from Nix Company’s payroll register for the week ended March 31, 20--, is shown: PAYROLL REGISTER FOR THE PERIOD ENDED March 31, 20-- EARNINGS TAXABLE EARNINGS DEDUCTIONS NAME EMPLOYEE NUMBER ALLOWANCES MARIT. STATUS REGULAR OVERTIME TOTAL CUM. TOTAL UNEMPL. COMP. SOC. SEC. FED. INC. TAX SOC. SEC. TAX MEDICARE TAX HEALTH INSUR. LIFE INSUR. OTHER TOTAL NET PAY CK. NO. 21 Totals 5,400.00 100.00 5,500.00 71,500.00 5,000.00 5,500.00 500.00 341.00 79.75 165.00 200.00 1,285.75 4,214.25 21 Payroll taxes are imposed as follows: Social Security tax, 6.2%; Medicare tax, 1.45%; FUTA tax, 0.6%; and SUTA tax, 5.4%. Required: 1a. Prepare the journal entry for payment of this payroll on March 31, 20--. 1b. Prepare the journal entry for the employer’s payroll taxes for the period ended March 31, 20--. 2. Nix Company had the following balances in its general ledger before the entries for requirement (1) were made:…CHOOSE THE LETTER OF THE CORRECT ANSWER What is the employee benefit expense for the current year? a. 1,180,000b. 2,100,000c. 1,850,000d. 1,050,000 What is the remeasurement gain or loss on plan assets on Dec. 31? a. 670,000 gainb. 670,000 lossc. 650,000 gaind. 650,000 lossThe totals from the first payroll of the year are shown below. TotalEarnings FICAOASDI FICAHI FITW/H StateTax UnionDues NetPay $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 Journalize the entry to record the payroll.
- E3-12 Employees' earnings and taxes.A weekly payroll summary made from labor time records shows the following data for Pima Company: Hours Employee Classification Hourly Rate Regular Overtime Tu, H. Direct $12 40 2 Dante, J. Direct 12 40 3 Jamal, M. Direct 15 40 4 Marcus, L. Indirect 9 40 Alexander, T. Indirect 18 40 Overtime is payable at one-and-a-half times the regular rate of and is distributed to all jobs worked on during the period. A. Determine the net pay of each employee. The income taxes with- held for each employee amount to 15% of the gross wages. B. Prepare journal entries for the following: 1. Recording the payroll. 2. Paying the…According to a summary of the payroll of Sinclair Company, $505,000 was subject to the 6.0% social security tax and $545,000 was subject to the 1.5% Medicare tax. Also, $10,000 was subject to state and federal unemployment taxes. Question Content Area Required: a. Compute the employer's payroll taxes using the following rates: State unemployment, 4.2%; Federal unemployment, 0.8%.$ fill in the blank bdfee804ffc2f82_1 Question Content Area b. Journalize the entry for the employer's payroll tax expense. If an amount box does not require an entry, leave it blank. - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select -E3-6 Journal entries for payroll A partial summary of the payroll data for Long Inds. for each week of Juneis as follows: 7-Jun 14-Jun 21-Jun 28-Jun Gross earnings $35,550 $31,770 $34,425 $36,180 Deductions:FICA tax 8% ? ? ? ? Income Tax $4,250 $3,980 $4,000 $4,375 Health Insurance 950 950 950 950 Tax Sheltered annuity 1,900 1,800 1,925 1,800 Total deductions ? ? ? ? Net earnings ? ? ? ? a.Compute the missingamounts in the summary, assuming that no employeeshave…
- At December 31, 2021, what amount was reported by Brown Company as accrued salaries payable? Choices: P90,000 P84,000 P72,000 P22,000On December 31, 2021, what amount should PO report for accrued salaries payable? *see attached a. P 100,000b. P 94,000c. P 82,000d. P 35,000*Today's Assignment* Design a salary slip for the month of December 2021 with information given below. Fixed vs variable ratio- 70:30Ctc - 18LBasic- 50%Hra- 20%Da - 12%Travel allowance- 2000Insurance - 2500Incentive- 75% target completionPf 12%Earned leaves - 2LOP - 4 Prepare the assignment in Ms excel/ Ms Word. And submit on whatsApp. Before 4 pm tomorrow. Regards
