Debit | Credit | ||
Salaries and Wages Expense | 454000 | ||
Withholding Income Taxes Payable | 73400 | ||
FICA Taxes Payable | 27167 | =(454000-122000)*7.65%+(122000*1.45%) | |
Union Dues Payable | 9800 | ||
Cash | 343633 | ||
Payroll Tax Expense | 28267 | ||
FICA Taxes Payable | 27167 | ||
Federal Unemployment Taxes(FUTA) Payable | 440 | =(454000-399000)*0.8% | |
State Unemployment Taxes(SUTA) Payable | 660 | =(454000-399000)*(3.5%-2.3%) |
The payroll of Tamarisk Company for September 2019 is as follows. Total payroll was $454,000, of...
The payroll of Swifty Company for September 2019 is as follows. Total payroll was $434,000, of which $104,000 is exempt from Social Security tax because it represented amounts paid in excess of $128,400 to certain employees. The amount paid to employees in excess of $7,000 was $363,000. Income taxes in the amount of $72,400 were withheld, as was $9,500 in union dues. The state unemployment tax is 3.5%, but Swifty Company is allowed a credit of 2.3% by the state...
The payroll of Sarasota Company for September 2019 is as follows. Total payroll was $446,000, of which $106,000 is exempt from Social Security tax because it represented amounts paid in excess of $128,400 to certain employees. The amount paid to employees in excess of $7,000 (the maximum for both federal and state unemployment tax) was $400,000. Income taxes in the amount of $78,700 were withheld, as was $8,900 in union dues. The state unemployment tax is 3.5%, but Sarasota Company...
The payroll of Crane Company for September 2019 is as follows. Total payroll was $464,000, of which $118,000 is exempt from Social Security tax because it represented amounts paid in excess of $128,400 to certain employees. The amount paid to employees in excess of $7,000 (the maximum for both federal and state unemployment tax) was $418,000. Income taxes in the amount of $86,000 were withheld, as was $8,500 in union dues. The state unemployment tax is 3.5%, but Crane Company...
The payroll of Marigold Company for September 2019 is as follows. Total payroll was $502,000, of which $102,000 is exempt from Social Security tax because it represented amounts paid in excess of $128,400 to certain employees. The amount paid to employees in excess of $7,000 was $366,000. Income taxes in the amount of $77,900 were withheld, as was $9,300 in union dues. The state unemployment tax is 3.5%, but Marigold Company is allowed a credit of 2.3% by the state...
Exercise 13-06 The payroll of Skysong Company for September 2019 is as follows. Total payroll was $450,000, of which $118,000 is exempt from Social Security tax because it represented amounts paid in excess of $128,400 to certain employees. The amount paid to employees in excess of $7,000 was $439,000. Income taxes in the amount of $77,200 were withheld, as was $9,600 in union dues. The state unemployment tax is 3.5%, but Skysong Company is allowed a credit of 2.3% by...
The payroll of Bramble Company for September 2019 is as follows. Total payroll was $440,000, of which $102,000 is exempt from Social Security tax because it represented amounts paid in excess of $128,400 to certain employees. The amount paid to employees in excess of $7,000 (the maximum for both federal and state unemployment tax) was $404,000. Income taxes in the amount of $79,400 were withheld, as was $8,700 in union dues. The state unemployment tax is 3.5%, but Bramble Company...
The payroll of Windsor Company for September 2016 is as follows. al payroll was $492,000, of which $120,000 is exempt from Social Security tax because it represented amounts paid in excess of $118,500 to certain employees. The amount paid to employee excess of 7,000 was $436,000. Income taxes in the amount of $73,800 were withheld, as was $8,700 in union dues. The state unemployment tax is 3.5%, but Windsor Company is allowed a credit of 2.3% by the state for...
xercise 13-6 The payroll of Swifty Company for September 2016 is as follows. Total payroll was $446,000, of which $106,000 is exempt from Social Security tax because it represented amounts paid in excess of $118,500 to certain employees. The amount paid to employees in excess of $7,000 was $400,000. Income taxes in the amount of $78,700 were withheld, as was $8,900 in union dues. The state unemployment tax is 3.5%, but Swifty Company is allowed a credit of 2.3% by...
The payroll of Cullumber Company for September 2019 is as follows. Total payroll was $458,000, of which $112,000 is exempt from Social Security tax because it represented amounts paid in excess of $128,400 to certain employees. The amount paid to employees in excess of $7,000 (the maximum for both federal and state unemployment tax) was $416,000. Income taxes in the amount of $84,100 were withheld, as was $9,200 in union dues. The state unemployment tax is 3.5%, but Cullumber Company...
The payroll of YellowCard Company for September 2013 is as follows. Total payroll was $470,400, of which $153,700 is exempt from Social Security tax because it represented amounts paid in excess of $106,800 to certain employees. The amount paid to employees in excess of $7,000 was $391,700. Income taxes in the amount of $88,780 were withheld, as was $8,830 in union dues. The state unemployment tax is 3.5%, but YellowCard Company is allowed a credit of 2.3% by the state...