Homework Answers
| 1 | The payroll amount subject to federal and state unemployment taxes in this payroll ((188/0.008) or (1269/0.054)) | $ 23,500 |
| 2 | Total payroll for Copperfield and Company (145500+523800+97000+203700+74207+87300) | $ 1,131,507 |
| 3 | Copperfield and Company’s share of FICA taxes (58200+14550) | $ 72,750 |
| 4 | Copperfield and Company contributed to 401k plans | $ 87,300 |
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The following Payroll Journal entries for Oct. 15 were made by your predecessor. For FICA tax,...
The following Payroll Journal entries for Oct. 15 were made by your predecessor. For FICA tax,...
The following Payroll Journal entries for Oct. 15 were made by your predecessor. For FICA tax, assume that the social security rate is 6.0% and the Medicare rate is 1.5%. The state and federal unemployment tax rates are 5.4% and 0.8%, respectively. The company offerrs 401k plans to employees. Review the journal entries, then answer the questions that follow. POST. REF DESCRIPTION CREDIT ASSETS LIABILITIES DATE DEBIT EQUITY Oct. 15 Sales Salaries Expense 145,500.00 1 Officers Salaries Expense 523,800.00 Office...
The following Payroll Journal entries for Oct. 15 were made by your predecessor. For FICA tax,...
The following Payroll Journal entries for Oct. 15 were made by your predecessor. For FICA tax, assume that the social security rate is 6.0% and the Medicare rate is 1.5%. The state and federal unemployment tax rates are 5.4% and 0.8%, respectively. The company offers 401k plans to employees. Review the journal entries, then answer the questions that follow. PAGE 32 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Oct. 15 Sales Salaries Expense 93,000.00...
The following Payroll Journal entries for Oct. 15 were made by your predecessor. For FICA tax,...
The following Payroll Journal entries for Oct. 15 were made by your predecessor. For FICA tax, assume that the social security rate is 6.0% and the Medicare rate is 1.5%. The state and federal unemployment tax rates are 5.4% and 0.8%, respectively. The company offers 401k plans to employees. Review the journal entries, then answer the questions that follow. PAGE 32 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Oct. 15 Sales Salaries Expense 93,000.00...
You've just started your first accounting job, as the accounts payable and payroll clerk for Copperfield...
You've just started your first accounting job, as the accounts payable and payroll clerk for Copperfield and Company, a provider of delicate wine glasses to restaurants. Your predecessor left the job suddenly, and was not able to complete all the tasks before leaving You need to get up to speed and complete the unfinished tasks as soon as possible Your tasks on your first day are the following 1. Review the payroll journal entries made by your predecessor 2. Compute...
PAYROLL REGISTER AND JOURNAL ENTRIES WOR JOURNAL ENTRIES WORKSHEET Requirement a): Complete the payroll register (20...
PAYROLL REGISTER AND JOURNAL ENTRIES WOR JOURNAL ENTRIES WORKSHEET Requirement a): Complete the payroll register (20 points) DEDUCTIONS State Net Pay EARNINGS Federal Income Income Total Deductions Tax Social Security Medicare Tax Tax Wage Rate Regular Wages Total Wages Overtime Wages Total Hours Worked 40 44 42 Accum Wages 99,500 78,500 6,700 Name D. Rump N. Pelowski D. Knatts Totals: 312.45 225.951 279.45 $42 $29 $36 Requirement b): Complete the employee and employer payroll journal entries (10 points) Dr Cr...
Payroll Entries The A multi-column report used to assemble and summarize payroll data at the end...
Payroll Entries The A multi-column report used to assemble and summarize payroll data at the end of each payroll period.payroll register for D. Salah Company for the week ended May 18 indicated the following: Salaries $614,000 Federal income tax withheld 122,800 The salaries were all subject to the 6.0% social security tax and the 1.5% Medicare tax. In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.8%, respectively, on $12,000 of salaries. If an...
Please help me....pleae read the whole information! Clear chart You've just started your first accountin...
Please help me....pleae read the whole information!
Clear chart
You've just started your first accounting job, as the accounts payable and payroll clerk for Copperfield and Company, a provider of delicate wine glasses to restaurants. Your predecessor left the job suddenly, and was not able to complete all the tasks before leaving. You need to get up to speed and complete the unfinished tasks as soon as possible. Your tasks on your first day are the following: 1. Review the...
Payroll Entries The payroll register for D. Salah Company for the week ended May 18 indicated...
Payroll Entries The payroll register for D. Salah Company for the week ended May 18 indicated the following: Salaries $604,000 120,800 Federal income tax withheld The salaries were all subject to the 6.0% social security tax and the 1.5% Medicare tax. In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.8%, respectively, on $11,000 of salaries. If an amount box does not require an entry, leave it blank. a. Journalize the entry to record...
SH Payroll Entries The payroll register for Schmidt Company for the week ended April 29 Indicated...
SH Payroll Entries The payroll register for Schmidt Company for the week ended April 29 Indicated the following: Salaries $493,000 Social security tax withheld 29,580 Medicare tax withheld 7,395 Federal Income tax withheld 98,600 In addition, state and federal unemployment taxes were computed at the rate of 5.4" and 0.6%, respectively, on $9,000 of salartes. a. Joumalize the entry to record the payroll for the week of April 29. If an amount box does not require an entry, leave it...
Problem 11-24 Entries for payroll transactions LO P2, P3 On January 8, the end of the...
Problem 11-24 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 $26,760 of office salaries and $60,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.20%, FICA Medicare taxes at the rate of 1.45%, $12,860 of federal income taxes, $1,440 of medical insurance deductions, and $800 of union dues. No...
The following Payroll Journal entries for Oct. 15 were made by your predecessor. For FICA tax, assume that the social security rate is 6.0% and the Medicare rate is 1.5%. The state and federal unemployment tax rates are 5.4% and 0.8%, respectively. The company offerrs 401k plans to employees. Review the journal entries, then answer the questions that follow. POST. REF DESCRIPTION CREDIT ASSETS LIABILITIES DATE DEBIT EQUITY Oct. 15 Sales Salaries Expense 145,500.00 1 Officers Salaries Expense 523,800.00 Office...
You've just started your first accounting job, as the accounts payable and payroll clerk for Copperfield and Company, a provider of delicate wine glasses to restaurants. Your predecessor left the job suddenly, and was not able to complete all the tasks before leaving You need to get up to speed and complete the unfinished tasks as soon as possible Your tasks on your first day are the following 1. Review the payroll journal entries made by your predecessor 2. Compute...
PAYROLL REGISTER AND JOURNAL ENTRIES WOR JOURNAL ENTRIES WORKSHEET Requirement a): Complete the payroll register (20 points) DEDUCTIONS State Net Pay EARNINGS Federal Income Income Total Deductions Tax Social Security Medicare Tax Tax Wage Rate Regular Wages Total Wages Overtime Wages Total Hours Worked 40 44 42 Accum Wages 99,500 78,500 6,700 Name D. Rump N. Pelowski D. Knatts Totals: 312.45 225.951 279.45 $42 $29 $36 Requirement b): Complete the employee and employer payroll journal entries (10 points) Dr Cr...
Please help me....pleae read the whole information!
Clear chart
You've just started your first accounting job, as the accounts payable and payroll clerk for Copperfield and Company, a provider of delicate wine glasses to restaurants. Your predecessor left the job suddenly, and was not able to complete all the tasks before leaving. You need to get up to speed and complete the unfinished tasks as soon as possible. Your tasks on your first day are the following: 1. Review the...
Payroll Entries The payroll register for D. Salah Company for the week ended May 18 indicated the following: Salaries $604,000 120,800 Federal income tax withheld The salaries were all subject to the 6.0% social security tax and the 1.5% Medicare tax. In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.8%, respectively, on $11,000 of salaries. If an amount box does not require an entry, leave it blank. a. Journalize the entry to record...
SH Payroll Entries The payroll register for Schmidt Company for the week ended April 29 Indicated the following: Salaries $493,000 Social security tax withheld 29,580 Medicare tax withheld 7,395 Federal Income tax withheld 98,600 In addition, state and federal unemployment taxes were computed at the rate of 5.4" and 0.6%, respectively, on $9,000 of salartes. a. Joumalize the entry to record the payroll for the week of April 29. If an amount box does not require an entry, leave it...
Problem 11-24 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 $26,760 of office salaries and $60,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.20%, FICA Medicare taxes at the rate of 1.45%, $12,860 of federal income taxes, $1,440 of medical insurance deductions, and $800 of union dues. No...
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