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4. Typically, the state's payroll factor (does/does not) inelude the salaries and bonuses paid to its...
.............. Entries for Payroll and Payroll Taxes The following information about the payroll for the week...
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Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Deductions: Sales salaries $248,000 Income tax withheld $89,760 Warehouse salaries 136,000 U.S. savings bonds 11,220 Office salaries 126,000 Group insurance 9,180 $510,000 Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.8% Required: If an amount box does not require an entry, leave it...
Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended...
Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Deductions: Sales salaries $284,000 Income tax withheld $102,960 Warehouse salaries 156,000 U.S. savings bonds 12,870 Office salaries 145,000 Group insurance 10,530 $585,000 Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.8% Required: If an amount box does not require an entry, leave it blank....
Entries for payroll and payroll taxes The following information about the payroll for the week ended...
Entries for payroll and payroll taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Deductions: Income tax withheld Sales salaries $625,000 Warehouse salaries U.S. savings bonds 240,000 320,000 $232,260 35,500 53,325 Office salaries Group insurance $1,185,000 Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.8% Required: If an amount box does not require an entry, leave it blank....
Recording Payroll and Payroll Taxes Beamon Corporation had the following payroll for April: Officers' salaries Sales...
Recording Payroll and Payroll Taxes Beamon Corporation had the following payroll for April: Officers' salaries Sales salaries Federal income taxes tithheld FICA taxes withheld Health insurance premiums withheld Union dues withheld Salaries included above) subject to federal unemployment taxes Salaries included abovej subject to state unemployment taxes $320,000 670,000 190,000 75,000 16.000 12.000 550.000 600.000 Required Prepare journal entries on April 30 to record: a. Accrual of the monthly payroll. b. Payment of the net payroll C. Accrual of employer's...
Calculator Entries for Payroll and Payroll Taxes The following information about the payroll for the week...
Calculator Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.1 Deductions: Salaries: Sales salaries Warehouse salaries Office salaries $271,000 149,000 138,000 Income tax withheld U.S. savings bonds Group insurance $98,200 12,275 10,044 $558,000 Tax rates assumed: Social security, 6% Medicare, 1.54 State unemployment employer only), 5.4% Federal unemployment (employer only), 0.8% Required: If an amount box does not require an entry leave it...
Journal entry worksheet 1 Record salaries and wages expense. Record payroll tax expense. Record salaries and...
Journal entry worksheet
1
Record salaries and wages expense.
Record payroll tax expense.
Record salaries and wage expense for fringe benefits provided
by the employer.
Alamar Petroleum Company offers its employees the option of contributing retirement funds up to 5% of their salaries, with the contribution being matched by Alamar. The company also pays 85% of medical and life insurance premiums. Deductions relating to these plans and other payroll information for the first biweekly payroll period of February are listed...
Industrial Solutions Payroll You are auditing the payroll for Industrial Solutions for the year e...
Industrial Solutions Payroll You are auditing the payroll for Industrial Solutions for the year ended April 30, 2018. Below are the amounts from the client’s trial balance, along with the client’s comparative audited information from the prior year. Audited Balance 4/30/2017 Unaudited Balance 4/30/2018 Sales $ 102,632,468.00 $ 114,948,364.00 Executive Salaries $ 1,093,880.00 $ 1,231,940.00 Factory hourly payroll $ 20,077,754.00 $ 22,952,638.00 Factory Supervisors salaries $ 1,571,650.00 $ 1,621,176.00 Office Salaries $ 3,980,592.00 $ 4,110,604.00 Sales Commissions $ 4,036,298.00 $ ...
1) Howard company paid salaries of $116,000. All of it was taxable for social security, federal...
1) Howard company paid salaries of $116,000. All of it was taxable for social security, federal unemployment, state unemployment (3.25%). Income taxes withheld were $45,000. A) Write the payroll journal entry. Hint: This entry will include income tax payable, social security tax payable Medicare tax payable and salaries payable B) Write the payroll tax journal entry. Hint: This entry will incl social security tax payable, Medicare tax payable and salaries payable 2) Howard company paid salaries of $60,000. All of...
Here is the whole question, someone please help im stuck Entries for Payroll and Payroll Taxes...
Here is the whole question, someone please help im stuck
Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Deductions Salsslaries Warehouse salaries Office salaries $249,000 137,000 127,000 Income tax withheld Social security tax withheld Medicare tax withheld $90,288 30,780 7,695 11,286 9,234 $149,283 $513,000 Retirement savings Group insurance Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4%...
Are top executives paid too much? A study of CEO compensation revealed that CEO bonuses rose...
Are top executives paid too much? A study of CEO compensation revealed that CEO bonuses rose considerably—from 20 percent to 30 percent—even at companies whose revenues or profits dropped or those that reported significant employee layoffs. Such high pay for CEOs at underperforming companies, as well as CEO compensation at companies with stellar results, has raised many questions from investors and others. The highest gap in pay was in 2000. CEO pay at the largest U.S. firms was 376 times...
..............
Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Deductions: Sales salaries $248,000 Income tax withheld $89,760 Warehouse salaries 136,000 U.S. savings bonds 11,220 Office salaries 126,000 Group insurance 9,180 $510,000 Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.8% Required: If an amount box does not require an entry, leave it...
Entries for payroll and payroll taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Deductions: Income tax withheld Sales salaries $625,000 Warehouse salaries U.S. savings bonds 240,000 320,000 $232,260 35,500 53,325 Office salaries Group insurance $1,185,000 Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.8% Required: If an amount box does not require an entry, leave it blank....
Recording Payroll and Payroll Taxes Beamon Corporation had the following payroll for April: Officers' salaries Sales salaries Federal income taxes tithheld FICA taxes withheld Health insurance premiums withheld Union dues withheld Salaries included above) subject to federal unemployment taxes Salaries included abovej subject to state unemployment taxes $320,000 670,000 190,000 75,000 16.000 12.000 550.000 600.000 Required Prepare journal entries on April 30 to record: a. Accrual of the monthly payroll. b. Payment of the net payroll C. Accrual of employer's...
Calculator Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.1 Deductions: Salaries: Sales salaries Warehouse salaries Office salaries $271,000 149,000 138,000 Income tax withheld U.S. savings bonds Group insurance $98,200 12,275 10,044 $558,000 Tax rates assumed: Social security, 6% Medicare, 1.54 State unemployment employer only), 5.4% Federal unemployment (employer only), 0.8% Required: If an amount box does not require an entry leave it...
Journal entry worksheet
1
Record salaries and wages expense.
Record payroll tax expense.
Record salaries and wage expense for fringe benefits provided
by the employer.
Alamar Petroleum Company offers its employees the option of contributing retirement funds up to 5% of their salaries, with the contribution being matched by Alamar. The company also pays 85% of medical and life insurance premiums. Deductions relating to these plans and other payroll information for the first biweekly payroll period of February are listed...
1) Howard company paid salaries of $116,000. All of it was taxable for social security, federal unemployment, state unemployment (3.25%). Income taxes withheld were $45,000. A) Write the payroll journal entry. Hint: This entry will include income tax payable, social security tax payable Medicare tax payable and salaries payable B) Write the payroll tax journal entry. Hint: This entry will incl social security tax payable, Medicare tax payable and salaries payable 2) Howard company paid salaries of $60,000. All of...
Here is the whole question, someone please help im stuck
Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Deductions Salsslaries Warehouse salaries Office salaries $249,000 137,000 127,000 Income tax withheld Social security tax withheld Medicare tax withheld $90,288 30,780 7,695 11,286 9,234 $149,283 $513,000 Retirement savings Group insurance Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4%...
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