College Accounting, Chapters 1-27

23rd Edition

ISBN: 9781337794756

Author: HEINTZ, James A.

Publisher: Cengage Learning,

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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 p…

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Textbook Question

Chapter 9, Problem 6SEB

SUTA taxes on July 31, 20--.

WORKERS’ COMPENSATION INSURANCE AND ADJUSTMENT Columbia Industries estimated that its total payroll for the coming year would be $385,000. The workers’ compensation insurance premium rate is 0.2%.

REQUIRED

1. Calculate the estimated workers’ compensation insurance premium and prepare the journal entry for the payment as of January 2, 20--.
2. Assume that Columbia Industries’ actual payroll for the year is $396,000. Calculate the total insurance premium owed and prepare a journal entry as of December 31, 20--, to record the adjustment for the underpayment. The actual payment of the additional premium will take place in January of the next year.

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Chapter 9, Problem 5SEB

Chapter 9, Problem 7SPB

Chapter 9 Solutions

College Accounting, Chapters 1-27

Ch. 9 - Prob. 1TF Ch. 9 - Prob. 2TF Ch. 9 - Prob. 3TF Ch. 9 - Prob. 4TF Ch. 9 - The W-4, which shows total annual earnings and...Ch. 9 - Prob. 1MC Ch. 9 - Prob. 2MC Ch. 9 - Prob. 3MC Ch. 9 - Prob. 4MC Ch. 9 - Prob. 5MC

Ch. 9 - Total earnings for the employees of Garys Grill...Ch. 9 - Prob. 2CE Ch. 9 - Prob. 3CE Ch. 9 - Prob. 4CE Ch. 9 - Prob. 1RQ Ch. 9 - Prob. 2RQ Ch. 9 - Prob. 3RQ Ch. 9 - Prob. 4RQ Ch. 9 - Prob. 5RQ Ch. 9 - Identify all items that are debited or credited to...Ch. 9 - Prob. 7RQ Ch. 9 - Prob. 8RQ Ch. 9 - Prob. 9RQ Ch. 9 - Prob. 10RQ Ch. 9 - Prob. 11RQ Ch. 9 - Prob. 12RQ Ch. 9 - Prob. 13RQ Ch. 9 - CALCULATION AND JOURNAL ENTRY FOR EMPLOYER PAYROLL...Ch. 9 - CALCULATION AND JOURNAL ENTRY FOR EMPLOYER PAYROLL...Ch. 9 - CALCULATION OF TAXABLE EARNINGS AND EMPLOYER...Ch. 9 - Prob. 4SEA Ch. 9 - JOURNAL ENTRIES FOR PAYMENT OF EMPLOYER PAYROLL...Ch. 9 - Prob. 6SEA Ch. 9 - CALCULATING PAYROLL TAXES EXPENSE AND PREPARING...Ch. 9 - JOURNALIZING AND POSTING PAYROLL ENTRIES Cascade...Ch. 9 - Prob. 9SPA Ch. 9 - CALCULATION AND JOURNAL ENTRY FOR EMPLOYER PAYROLL...Ch. 9 - Prob. 2SEB Ch. 9 - Prob. 3SEB Ch. 9 - TOTAL COST OF EMPLOYEE B. F. Goodson employs...Ch. 9 - JOURNAL ENTRIES FOR PAYMENT OF EMPLOYER PAYROLL...Ch. 9 - SUTA taxes on July 31, 20--. WORKERS COMPENSATION...Ch. 9 - Prob. 7SPB Ch. 9 - JOURNALIZING AND POSTING PAYROLL ENTRIES Oxford...Ch. 9 - Prob. 9SPB Ch. 9 - The director of the art department at an...Ch. 9 - Prob. 1EC Ch. 9 - The totals line from Nix Companys payroll register...Ch. 9 - Prob. 1CP

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Payroll Taxes Sids Grocery Store has 100 employees who earn a wage of $18.75 per hour. Each of Sids employees has worked a total of 160 hours over the month of July. At the time of recording Julys monthly payroll, the following amounts have been withheld: Also, the unemployment tax rate is 2% and applies to all but $30,000 of the gross payroll. Required: 1. What is the amount of net pay recorded by Sids? 2. Make the journal entries to record the payroll.
Payroll Taxes Hernandez Builders has a gross payroll for January amounting to $500,000. The following amount have been withheld: Also, the federal unemployment tax rate is 6.2% and applies to all but $50,000 of the gross payroll. Required: 1. What is the amount of net pay recorded by Hernandez? 2. Prepare the journal entries to record the payroll.

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