Homework Answers
Ans 3.
| Bank Reconciliation Statement of Doug's Sky Diving Supply | ||
| As of 30th June | ||
| Particulars | Plus Items | Minus Items |
| Balance as per Books | 9,265 | |
| Add: Outstanding Check (Checks Issued but not presented for payment) [241+67+597] | 905 | |
| Add: Credit of Interest earned in the bank but not entered in account books | 16 | |
| Less: Deposits in Transit (Amount Deposited but not yet collected at bank) [229+4111] | 4,340 | |
| Less: Service Charges Debited by Bank not entered in Books | 98 | |
| Less: Not Sufficient Fund Check charged by bank but not entered in Books | 412 | |
| Less: Check paid of 454 mistakenly entered in Account Books as 445 (difference being adjusted) | 9 | |
| 10,186 | 4,859 | |
| Balance as per Bank Statement | 5327 |
Add Answer to:
QUESTION 2 From the following information from the payroll register of Veronica's Auto Supply Store, calculate...
From the following information from the payroll register of Veronica's Auto Supply Store, calculate the amount...
From the following information from the payroll register of Veronica's Auto Supply Store, calculate the amount of taxable earnings for unemployment and FICA tax, and prepare the journal entry to record the employer's payroll taxes as of April 30, 20--. Social Security tax is 6.2% on the first $94,200 of earnings for each employee. Medicare tax is 1.45% of gross earnings. FUTA tax is 0.8%, and SUTA tax is 5.4% each on the first $7,000 of earnings. Cumulative Pay Current...
The following information relates to the bank account of Doug's Sky Diving Supply Store on June...
The following information relates to the bank account of Doug's Sky Diving Supply Store on June 30. Balance per bank statement $5,327 Balance per books as of June 30 9,265 Outstanding checks: #1007 $ 241 #1008 67 #1009 597 Deposits in transit 229 4,111 Bank service charges 98 NSF check 412 Credit memo for interest earned 16 Error: Check written and recorded by bank as $454 was subtracted from the checkbook as $445. The check was used to...
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...
I got these wrong. What should these look like? 63. The payroll register for Automotive Service...
I got these wrong. What should these look like?
63. The payroll register for Automotive Service Center for the pay period ended June 30, 20--, showed the following: Total Earnings $623,000.00 Taxable Earnings: FUTA 4,500.00 SUTA 4,500.00 Social Security 574,000.00 Deductions: Federal income tax 91,800.00 Social Security tax 35,588.00 Medicare tax 9,033.50 Pension plan 4,800.00 Health insurance 16,200.00 United Way 12,000.00 The Social Security tax rate is 6.2%, Medicare tax is 1.45%, FUTA tax is 0.8%, and SUTA tax is...
The information on earnings and deductions for the pay period ended December 14 from King Company's payroll records is a...
The information on earnings and deductions for the pay period ended December 14 from King Company's payroll records is as follows: Beginning Cumulative Name Gross Pay Earnings Burgess, J. L. $396 $6,784 Clayton, M. E. 758 40,055 Drugden, T. F. 857 38,449 Lui, L. W. 1,039 39,619 Sparks, C. R. 4,023 115,159 Stevers, D. H. 814 6,767 For each employee, the Social Security tax is 6.2 percent of the first $118,500 and the employer's Social Security tax is 6.2 percent...
Prepare a payroll register for Mary’s Luxury Travel for the week ended March 22, 20--. (In the Ta...
Prepare a payroll register for Mary’s Luxury Travel for the week ended March 22, 20--. (In the Taxable Earnings/Unemployment Compensation column, enter the same amounts as in the Social Security column.) Total the amount columns. Round your answers to the nearest cent. 2. Assuming that the wages for the week ended March 22 were paid on March 24, prepare the journal entry for the payment of the payroll. When required, enter amounts in dollars and cents. If an amount box...
Payroll Entries Widmer Company had gross wages of $270,000 during the week ended June 17. The...
Payroll Entries Widmer Company had gross wages of $270,000 during the week ended June 17. The amount of wages subject to social security tax was $243,000, while the amount of wages subject to federal and state unemployment taxes was $34,000. Tax rates are as follows: Social security 6.0% Medicare 1.5% State unemployment 5.3% Federal unemployment 0.8% The total amount withheld from employee wages for federal taxes was $54,000. If an amount box does not require an entry, leave it blank....
A company's employees had the following earnings records on June 30, the current payroll period: Employees...
A company's employees had the following earnings records on June 30, the current payroll period: Employees Earnings Earnings this FICA FICA Income Med Net Pay FUTAI FUTA SUTA through Prior Pay Period SS Med Taxes Ins SUTA Pay Period W/H W/H W/H W/H Taxable Earnings D. Adams $11,300 $3,900 $900 J. Hess 6,100 2,500 500 R. Lui 9,500 3,100 600 T. Morales 4,800 1,400 300 L. Vang 10,000 3,000 600 Totals The company's payroll taxes expense on each employee's earnings...
Payroll Journal Entry 1. Journalize the following data taken from the payroll register of CopyMasters as...
Payroll Journal Entry 1. Journalize the following data taken from the payroll register of CopyMasters as of April 15, 20 - When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. Regular earnings $5.715.00 General Journal Overtime earnings 790.00 1. Joumalize the following data taken from the payroll register of CopyMasters as of April 15, 20-When required, enter amounts in Deductions: dollars and cents. If an amount box does not...
The information on earnings and deductions for the pay period ended December 14 from King Company's...
The information on earnings and deductions for the pay period ended December 14 from King Company's payroll records is as follows: Beginning Cumulative Name Gross Pay Earnings Burgess, J. L. $410 $6,750 Clayton, M. E. 785 40,200 Drugden, T. F. 860 38,500 Lui, L. W. 990 39,700 Sparks, C. R. 4,094 115,700 Stevers, D. H. 850 6,810 For each employee, the Social Security tax is 6.2 percent of the first $118,500 and the employer's Social Security tax is 6.2 percent...
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...
I got these wrong. What should these look like?
63. The payroll register for Automotive Service Center for the pay period ended June 30, 20--, showed the following: Total Earnings $623,000.00 Taxable Earnings: FUTA 4,500.00 SUTA 4,500.00 Social Security 574,000.00 Deductions: Federal income tax 91,800.00 Social Security tax 35,588.00 Medicare tax 9,033.50 Pension plan 4,800.00 Health insurance 16,200.00 United Way 12,000.00 The Social Security tax rate is 6.2%, Medicare tax is 1.45%, FUTA tax is 0.8%, and SUTA tax is...
A company's employees had the following earnings records on June 30, the current payroll period: Employees Earnings Earnings this FICA FICA Income Med Net Pay FUTAI FUTA SUTA through Prior Pay Period SS Med Taxes Ins SUTA Pay Period W/H W/H W/H W/H Taxable Earnings D. Adams $11,300 $3,900 $900 J. Hess 6,100 2,500 500 R. Lui 9,500 3,100 600 T. Morales 4,800 1,400 300 L. Vang 10,000 3,000 600 Totals The company's payroll taxes expense on each employee's earnings...
Payroll Journal Entry 1. Journalize the following data taken from the payroll register of CopyMasters as of April 15, 20 - When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. Regular earnings $5.715.00 General Journal Overtime earnings 790.00 1. Joumalize the following data taken from the payroll register of CopyMasters as of April 15, 20-When required, enter amounts in Deductions: dollars and cents. If an amount box does not...
Most questions answered within 3 hours.
-
What steps would you take to institutionalize the controls you’d
select for your organization? Where do...
asked 1 minute ago -
Learning aquatic zumba is an example of tacit knowledge. true or
false
asked 2 minutes ago -
Table salt contains 39.33 g of sodium per 100 g of salt. The
U.S. Food and...
asked 19 minutes ago -
C&A records the following profit figures for the last six
months in Excel for a linear...
asked 16 minutes ago -
This needs to be done in c++11 and be compatible with g++
compiling
Project description:
Write...
asked 17 minutes ago -
.
NEED ANSWER ASAP
******NEW ANSWER NEVER USED BEFORE****
Write a page paper on conducting marketing...
asked 19 minutes ago -
Assume that capital markets are competitive and that the
international Fisher hypothesis holds. The one-year interest...
asked 46 minutes ago -
Solid potassium phosphate is slowly added to 150 mL of a 0.0518
M calcium nitrate solution....
asked 1 hour ago -
(CO 2) A field can be added to a report to
values for two or more...
asked 2 hours ago -
Identify 3 research scenarios that might provide a low,
medium, and high degree of variability in...
asked 3 hours ago -
how
does gravity affect the trajectory of projectile? what would be the
shape of the trajactory...
asked 4 hours ago -
Two small plastic spheres are given positive electrical charges.
When they are a distance of 15.4...
asked 4 hours ago