How do I fill the rest of this out and do the journal entries
Homework Answers
Journal Entry to
| Date | Particular | Debit | Credit |
| 1. | Record the employer's payroll taxes expense | ||
| 25/8 | Payroll tax expense | 2,394.46 | |
| To FICA-SS Payable | 634.88 | ||
| To FICA-MC Payable | 317.33 | ||
| To FUTA Payable (1,420 X 0.6%) | 8.52 | ||
| To SUTA Payable (1,420 X 2.15%) | 30.53 | ||
| To Pension Plan Payable (17,540 X 8%) | 1403.2 | ||
| 2. | Pay the SUTA taxes to the state of California | ||
| SUTA Payable | 8.52 | ||
| To Cash | 8.52 | ||
| 3. | Pay all the FICA-SS+FICA-MC to the federal government | ||
| FICA-SS Payable | 1269.76 | ||
| FICA-MC Payable | 634.66 | ||
| To Cash | 1,904.42 |
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How do I fill the rest of this out and do the journal
entries
Employer's Taxes...
How do I fill out the rest of this table Employer's Taxes on 8/25 payroll Pay...
How do I fill out the rest of this table
Employer's Taxes on 8/25 payroll Pay Taxes 0.6% Net FICA FICA FUTA $7,000 cap 2.15% SUTA $7,000 cap 8% Pension Plan Total Tax Expense Health Insurance 75 МС Name Chee Dali Kiesha Marie Trey YTD Earnings Gross Pay through 8/18 $ 204,000 $ 132,500 $ 54,200 $ 26,508 $ 5,580 Totals Employees' Earnings for week ended 8/25 Withholdings (deductions from gross) Federal 3% 6.2% Income Tax State $137,700 cap 1.45%...
Please fill the empty boxes and show the computations. We are supposed to get the answers...
Please fill the empty boxes and show the computations. We are
supposed to get the answers at the bottom. Thanks
It's based off of this. I need help with both. I don't
understand how they are getting some of these numbers
4 Gibbs Oil Company Employer's Payroll Taxes For the Week Ending November 26 YTD Earnings Current Earnings FICA SS 6.20% FICA MC FUTA ($7,000 cap) 0.6% SUTA ($7,000 cap) 5,4% Total Payroll Taxes Expense 1.45% Health Ins $80 $40...
di entries LO P3 Assuming situation (a), prepare the employer's September 30 journal entries to record...
di entries LO P3 Assuming situation (a), prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities Complete this question by entering your answers in the tabs below. Payroll Taxes Expense General Journal Prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record the employer's September 30 payroll taxes expense...
Exercise 9-7 Payroll-related journal entries LO P3 BMX Company has one employee. FICA Social Security taxes...
Exercise 9-7 Payroll-related journal entries LO P3 BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $117,000 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. Gross Pay through August $ 6,560 Gross Pay for September $ 820 a. Prepare the employer's September 30 journal entries to record the employer's payroll...
PROBLEM V: PREPARING THE PAYROLL TAX ENTRY (10 Using the information below, determine the amount of...
PROBLEM V: PREPARING THE PAYROLL TAX ENTRY (10 Using the information below, determine the amount of the payroll period ending March 31, 20xx. In your answer, list the amount for FICA: SO FUTA, and SUTA. Then, record the payroll "tax" expense journal entry of the em mine the amount of the payroll "tax" expense incurred for Mary Jane's Pies for the T, list the amount for FICA: (Social Security and Medicare), Employee Cumulative Gross Pay (Earnings) Prior to Current Period...
Exercise 9-6 Payroll-related journal entries LO P2 BMX Company has one employee. FICA Social Security taxes...
Exercise 9-6 Payroll-related journal entries LO P2 BMX Company has one employee. FICA Social Security taxes are 6.20% of the first $117,000 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.60% and SUTA taxes are 2.90% of the first $7,000 paid to its employee. Gross Pay through August $5,800 Gross Pay for September $ 1,900 a. Prepare the employer's September 30 journal entries to record salary expense and its...
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $118,500 paid...
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $118,500 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. a. Gross Pay through August $ 5,200 18,900 112,900 Gross Pay for September $ 2,400 2,800 8,700 Compute BMX's amounts for each of these four taxes as applied to the employee's gross...
I need to figure out the September earnings subject to tax for FUTA & SUTA. And...
I need to figure out the September earnings subject to tax for
FUTA & SUTA. And also the general journal.
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7.000 paid to its employee. Gross Pay through August 31 $ 5,600 2,550 123,200 Gross Pay for...
Instructions Employer's Payroll Taxes General Journal Instructions Calculation and Journal Entry for Employer Payroll Taxes 1....
Instructions Employer's Payroll Taxes General Journal Instructions Calculation and Journal Entry for Employer Payroll Taxes 1. Calculate the employer's payroll taxes expense. Round your answer to the nearest cent. 2. Prepare the journal entry to record the employer's payroll taxes expense for the week ended July 15 of the current year. Round your answers to the nearest cent, if required. If an amount box does not require an entry, leave it blank. Portions of the payroll register for Barney's Bagels...
Accounting Question, Help me fill this out, please! Paloma Co. has four employees. FICA Social Security...
Accounting Question, Help me fill this out, please!
Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $128,400 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5.4%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees....
How do I fill out the rest of this table
Employer's Taxes on 8/25 payroll Pay Taxes 0.6% Net FICA FICA FUTA $7,000 cap 2.15% SUTA $7,000 cap 8% Pension Plan Total Tax Expense Health Insurance 75 МС Name Chee Dali Kiesha Marie Trey YTD Earnings Gross Pay through 8/18 $ 204,000 $ 132,500 $ 54,200 $ 26,508 $ 5,580 Totals Employees' Earnings for week ended 8/25 Withholdings (deductions from gross) Federal 3% 6.2% Income Tax State $137,700 cap 1.45%...
Please fill the empty boxes and show the computations. We are
supposed to get the answers at the bottom. Thanks
It's based off of this. I need help with both. I don't
understand how they are getting some of these numbers
4 Gibbs Oil Company Employer's Payroll Taxes For the Week Ending November 26 YTD Earnings Current Earnings FICA SS 6.20% FICA MC FUTA ($7,000 cap) 0.6% SUTA ($7,000 cap) 5,4% Total Payroll Taxes Expense 1.45% Health Ins $80 $40...
di entries LO P3 Assuming situation (a), prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities Complete this question by entering your answers in the tabs below. Payroll Taxes Expense General Journal Prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record the employer's September 30 payroll taxes expense...
Exercise 9-7 Payroll-related journal entries LO P3 BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $117,000 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. Gross Pay through August $ 6,560 Gross Pay for September $ 820 a. Prepare the employer's September 30 journal entries to record the employer's payroll...
PROBLEM V: PREPARING THE PAYROLL TAX ENTRY (10 Using the information below, determine the amount of the payroll period ending March 31, 20xx. In your answer, list the amount for FICA: SO FUTA, and SUTA. Then, record the payroll "tax" expense journal entry of the em mine the amount of the payroll "tax" expense incurred for Mary Jane's Pies for the T, list the amount for FICA: (Social Security and Medicare), Employee Cumulative Gross Pay (Earnings) Prior to Current Period...
Exercise 9-6 Payroll-related journal entries LO P2 BMX Company has one employee. FICA Social Security taxes are 6.20% of the first $117,000 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.60% and SUTA taxes are 2.90% of the first $7,000 paid to its employee. Gross Pay through August $5,800 Gross Pay for September $ 1,900 a. Prepare the employer's September 30 journal entries to record salary expense and its...
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $118,500 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. a. Gross Pay through August $ 5,200 18,900 112,900 Gross Pay for September $ 2,400 2,800 8,700 Compute BMX's amounts for each of these four taxes as applied to the employee's gross...
I need to figure out the September earnings subject to tax for
FUTA & SUTA. And also the general journal.
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7.000 paid to its employee. Gross Pay through August 31 $ 5,600 2,550 123,200 Gross Pay for...
Instructions Employer's Payroll Taxes General Journal Instructions Calculation and Journal Entry for Employer Payroll Taxes 1. Calculate the employer's payroll taxes expense. Round your answer to the nearest cent. 2. Prepare the journal entry to record the employer's payroll taxes expense for the week ended July 15 of the current year. Round your answers to the nearest cent, if required. If an amount box does not require an entry, leave it blank. Portions of the payroll register for Barney's Bagels...
Accounting Question, Help me fill this out, please!
Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $128,400 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5.4%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees....
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