Homework Answers
Answer:
| Date | Accounts Titles | Debit $ | Credit $ |
| 31-Mar | Payroll tax expense | 2,661.75 | |
| FICA - social security taxes (1950*10*6.2%) | 1,209.00 | ||
| FICA - Medicare taxes (1950*10*1.45%) | 282.75 | ||
| State unemployment taxes payable (1950*10*5.4%) | 1,053.00 | ||
| Federal unemployment taxes payable (1950*10*0.6%) | 117.00 |
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QS 9-6 Recording employer payroll taxes LO P3 Merger Co. has 10 employees, each of whom...
QS 9-6 Recording employer payroll taxes LO P3 Merger Co, has 10 employees, each of whom...
QS 9-6 Recording employer payroll taxes LO P3 Merger Co, has 10 employees, each of whom eams $1,450 per month and has been employed since January 1. 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. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Prepare the March 31 journal entry to record the March payroll taxes expenses....
QS 9-6 Record employer payroll taxes LO P3 Merger Co. has 10 employees, each of whom...
QS 9-6 Record employer payroll taxes LO P3 Merger Co. has 10 employees, each of whom earns $2,150 per month and has been employed since January 1. FICA Social Security taxes are 6.2% of the first $117,000 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Prepare the March 31 journal entry to record the March payroll taxes expenses....
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Merger Co. has 10 employees, each of whom earns $1,350 per month and has been employed since January 1. FICA Social Security taxes are 6.2% of the first $118,500 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Prepare the March 31 journal entry to record the March payroll taxes expenses. (Round your answers to 2 decimal places.)
Merger Co. has 10 employees, each of whom earns $1,350 per month and has been employed...
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Merger Co. has 10 employees, each of whom earns $1,500 per month and has been employed...
Merger Co. has 10 employees, each of whom earns $1,500 per month and has been employed since January 1. 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. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Prepare the March 31 journal entry to record the March payroll taxes expenses. (Round your answers to 2 decimal places.) View...
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Problem 9-3A Payroll expenses, withholdings, and taxes LO P2, P3 Paloma Co. Stars has four employees. FICA Social Security taxes are 6.2% of the first $117,000 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 .6% and SUTA taxes are 6.20%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the...
Exercise 9-5 Computing payroll taxes LO P2, P3 BMX Company has one employee. FICA Social Security...
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Problem 11-3A Payroll expenses, withholdings, and taxes LO P2, P3 Paloma Co. has four employees. FICA...
Problem 11-3A Payroll expenses, withholdings, and taxes LO P2, P3 Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $118,500 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 2.15%. The company is preparing its payroll calculations for the week ended August 25, Payroll records show the following information for the company's...
prepare the january 31st journal entries to record both the employee and employer payroll Denise C....
prepare the january 31st journal entries to record both the
employee and employer payroll
Denise C. has five employees, each of whom earn $5,000 per month and has been employees since January 1st. FICA Social Security taxes are 6.2% of the first $132,000 paid to each each employee and FICA Medicare are 1.45% of gross pay. FUTA taxes are.8% and SUTA 5.4% of the first $7,000 paid to each employee. Federal Income taxes withheld were $875. State taxes withheld $602.
QS 9-6 Recording employer payroll taxes LO P3 Merger Co, has 10 employees, each of whom eams $1,450 per month and has been employed since January 1. 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. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Prepare the March 31 journal entry to record the March payroll taxes expenses....
QS 9-6 Record employer payroll taxes LO P3 Merger Co. has 10 employees, each of whom earns $2,150 per month and has been employed since January 1. FICA Social Security taxes are 6.2% of the first $117,000 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Prepare the March 31 journal entry to record the March payroll taxes expenses....
Merger Co. has 10 employees, each of whom earns $1,550 per month and has been employed since January 1. FICA Social Security taxes are 6.2% of the first $118,500 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Prepare the March 31 journal entry to record the March payroll taxes expenses. (Round your answers to 2 decimal places.)
Merger Co. has 10 employees, each of whom earns $1,500 per month and has been employed since January 1. 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. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Prepare the March 31 journal entry to record the March payroll taxes expenses. (Round your answers to 2 decimal places.) View...
Problem 9-3A Payroll expenses, withholdings, and taxes LO P2, P3 Paloma Co. Stars has four employees. FICA Social Security taxes are 6.2% of the first $117,000 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 .6% and SUTA taxes are 6.20%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the...
Exercise 9-5 Computing payroll taxes LO P2, P3 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. cao Gross Pay through August $ 5,900 17,700 104,000 Gross Pay for September $ 1,700 3,500 20,500 Compute BMX's amounts for each of these...
Problem 11-3A Payroll expenses, withholdings, and taxes LO P2, P3 Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $118,500 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 2.15%. The company is preparing its payroll calculations for the week ended August 25, Payroll records show the following information for the company's...
prepare the january 31st journal entries to record both the
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