What is the order of calculation on Quarter-hour method & Hundreth-hour method?  For example: IN 8:08 OUT 11:57  IN 12:59 OUT 4:57 IN 9:04 OUT 12:17  IN 1:28 OUT 5:18 IN 7:45 OUT 11:45  IN 12:43 OUT 4:01 IN 7:57 OUT 12:04  IN 1:03 OUT 5:06

Q: The following totals for the month of April were taken from the payroll records of Cheyenne Corp..…

A: Journal entries refer to the recording of transactions in an appropriate way. With the help of…

Q: An employee has a net payroll amount of $5,064.50. What is the correct journal entry to record this…

A: Expense booking entry will be Wages expense Ac Dr 5064.5 to Net payroll payable 5064.5 being expense…

Q: Total payroll expense was recorded as $750,000 on the income statement. The payroll payable account…

A: Statement of cash flows: Cash flow statement is also known as statement of cash flows. It is a…

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 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: Sarasota Corp.'s gross payroll for April is $50,300. The company deducted $2,217 for CPP, $1,073 for…

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

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: Required: Complete the payroll register for the September 30 pay period with a pay date of October…

A: Latanya Brown is married filing jointly with two dependents under 17. Annual Salary = $47,400…

Q: a. Journalize the entry to record the payroll for the week of July 15.* b. Journalize the entry to…

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

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

A: Note:- Dear student Accounting equations are not done because we didn't find any instructions in…

Q: n the Illustrative Case in this chapter, payroll transactions for Brookins Company were analyzed,…

A:

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

A: In terms of finance, payroll accounting ensures that a company pays its employees accurately. This…

Q: Example 6-5 The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would…

A: Journal entry is the process of documenting commercial transactions for the first time in the books…

Q: he journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be:   Debit…

A: Journal entries refer to the process of documenting all the financial transactions in its books done…

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

A: The journal entry to record the monthly payroll on April 30 would include a debit to Salaries and…

Q: Example 6-5 The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would…

A: Given the following information: Vulcra, Inc., has a semimonthly payroll of $66,920 on September…

Q: Journalize the adjustment for accrued wages for the following Monday, which is the end of the…

A:

Q: PR The following data for Throwback Industries Inc. relate to the payroll for the week ended…

A: Payroll Summary - It is a report which also known as payroll activity summary report, which shows a…

Q: Company's weekly payroll, pai for a total of $5,412 for a Fiv at is the credit side amount of the ed…

A: Adjusting entries are entries that are passed at the end of the period to accurately reflect income,…

Q: The totals from the first payroll of the year are shown below. Total Earnings   FICA OASDI   FICA HI…

A: Given gross pay = $7,475 In order to record accrued expenses, the expense which has been incurred…

Q: Karen Law firm has paid $52,400.00 in salaries for the first quarter. Ms. Karen has computed the…

A: Journal entry : It is prepared to record the financial and non-financial transactions of the…

Q: In the Illustrative Case in this chapter, payroll transactions for Brookins Company were analyzed,…

A: SOLUTION- NOTE- 1-FICA TAX PAYABLE -OASDI RATE IS 6.2% OF WAGES AND SALARIES PAID 2-FICA TAX…

Q: Example 6-5 The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would…

A: Particular Debit ($) Credit ($) Wages expenses 4,690    FICA Taxes Payable - OASDI       (4690…

Q: 1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 9, 20Y8. Use…

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

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

A: Net Salaries Payable = Total salaries for the period - Total amount withheld = $65,000 - ($3,900 +…

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

A: Answer:-  Net Payroll meaning:- Net payroll can be defined as the amount taken home by the employees…

Q: According to the accountant of Ulster Inc., its payroll taxes for the week were as follows: $137.68…

A: FICA taxes: FICA is called federal insurance contributions act which consists two types of taxes.…

Q: totals for the month of April were taken from the payroll register of Omar Company. Salaries and…

A: In the journal entry for the payroll expense, the salary and wages expense is debited, all the taxes…

Q: The payroll register for Heilman Mfg. for the week of August 20th indicates the following: salaries…

A: Prepare journal entry to record payroll for the week of August 20:

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: Recording payroll Using the earnings data developed in E3-1 and assuming that this was the first…

A: In a year, 52 paychecks are generated by a weekly pay period. Employees who work by the hour are…

Q: ) Journalize the payroll entry for the week. DATE   Debit Credit X/X…

A:

Q: Payment and distribution of payroll similar to Self-Study Problem 1 The general ledger of Smokey…

A: The general ledger of Smokey Mountain Mfg., Inc., showed the following credit balances on January…

Q: Payroll Journal Entry 1.  Journalize the following data taken from the payroll register of…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Specialty Manufacturing estimated that its total payroll for the coming year would be $482,500. The…

A:

Q: Prepare a data flow diagram and a system flowchart of the payroll procedures previously described

A:

Q: The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be:   Debit…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Journal entry Complete the following Prepare the journal entries as of January 12 to record the…

A: Journal entries as of January 12 to record the payroll and the payroll taxes: Date Account…

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

A: Net payment of salary to be made = Salaries expense - witholdings = $14,000 - $1,050 - $2,600 -…

Q: Progress Sheridan Company'sgross pay for the week ended August 22 totalled73,500, from which S4,030…

A: Salary payable = Gross pay - CPP- EI- income tax =73,500-4030-1350-19710 = $48,410

Q: PR.04.31AT completes the payroll register through Gross Pay. PR.04.32AT completes this problem to…

A: As in the question the computation table shows to arrive at total earnings and no specific method…

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

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

Q: the accrued payroll journal entries for your company 1, that has a payroll expense of $460,000 every…

A: The accrued salaries are the salaries which are earned by the employees but are not paid yet by the…

Q: The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be: Debit…

A: The taxes paid by the employer to the government bodies on behalf of the employees are referred as…

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.