Regis Company’s: | |||
Tax |
January 8 earnings subject to tax |
Tax Rate | Tax Amount |
FICA-Social Security | 92,600 | 6.20% | 5741.20 |
FICA-Medicare | 92,600 | 1.45% | 1342.70 |
FUTA | 92,600 | 0.60% | 555.60 |
SUTA | 92,600 | 5.40% | 5000.40 |
1.2 | |||
Date | General Journal | Debit | Credit |
Jan 8 | Office salaries expense | 21,760.00 | |
Sales salaries expense | 70,840.00 | ||
FICA—Social sec. taxes payable | 5,741.20 | ||
FICA—Medicare taxes payable | 1,342.70 | ||
Employee fed. inc. taxes payable | 13,260.00 | ||
Employee medical insurance payable | 1,330.00 | ||
Employee union dues payable | 820.00 | ||
Salaries payable | 70,106.10 | ||
2 | |||
Date | General Journal | Debit | Credit |
Jan 8 | Payroll taxes expense | 12,639.90 | |
FICA—Social sec. taxes payable | 5,741.20 | ||
FICA—Medicare taxes payable | 1,342.70 | ||
State unemployment taxes payable | 5,000.40 | ||
Federal unemployment taxes payable | 555.60 |
Ruiz 0 Help Save & Exit Submit Problem 9-2A Entries for payroll transactions LO P2, P3...
Problem 9-2A Entries for payroll transactions LO P2, P3 On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $28,760 of office salaries and $60,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $13,260 of federal income taxes, $1,320 of medical insurance deductions, and $920 of union dues No employee earned more than $7,000...
Problem 9-2A Entries for payroll transactions LO P2, P3 On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register showed that its employees earned $21,760 of office salaries and $70,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.20%, FICA Medicare taxes at the rate of 1.45%, $12,960 of federal income taxes, $1,340 of medical insurance deductions, and $940 of union dues. No...
Problem 9-2A Entries for payroll transactions LO P2, P3 On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $24760 of office salaries and $60.840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 62%, FICA Medicare taxes at the rate of 1.45%, $12 660 of federal income taxes, $1370 of medical Insurance deductions, and $800 of union dues No employee earned more than...
On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $25,760 of office salaries and $60,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $12,760 of federal income taxes, $1,440 of medical insurance deductions, and $780 of union dues. No employee earned more than $7,000 in this first period. Required: 1.1 Calculate below the...
Problem 9-2A Entries for payroll transactions LO P2, P3 On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $28,760 of office salaries and $60,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $13,560 of federal income taxes, $1,430 of medical insurance deductions, and $960 of union dues. No employee earned more than $7,000...
On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $22,760 of office salaries and $70,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $12,760 of federal income taxes, $1,360 of medical insurance deductions, and $800 of union dues. No employee earned more than $7,000 in this first period. Required: 1.1 Calculate below the...
Problem 9-2A Entries for payroll transactions LO P2, P3 On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register showed that its employees earned $22.760 of office salaries and $70,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6. 20%, FICA Medicare taxes at the rate of 145%, $13,560 of federal income taxes, $1,390 of medical insurance deductions, and $840 of union dues....
Help Save & Ch On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $21,760 of office salaries and $60,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $13,060 of federal income taxes, $1,320 of medical insurance deductions, and $940 of union dues. No employee earned more than $7,000 in this first period. Required:...
Problem 11-2A Entries for payroll transactions P2 P3 On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $22,760 of office salaries and $65,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, S12.860 of federal income taxes, $1,340 of medical insurance deductions, and $840 of union dues. No employee earned more than $7,000 in...
On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $21,760 of office salaries and $70,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $13,260 of federal income taxes, $1,330 of medical insurance deductions, and $820 of union dues No employee earned more than $7,000 in this first period. Required: 1.1 Calculate below the...