The following totals for the month of April were taken from the payroll records of Marigold...
The following totals for the month of April were taken from the payroll records of Marigold Corp.. Salaries $93600 FICA taxes withheld 7160 Income taxes withheld 19500 Medical insurance deductions 3500 Federal unemployment taxes 250 State unemployment taxes 1680 The entry to record the payment of net payroll would include a debit to Salaries and Wages Payable for $63440. debit to Salaries and Wages Payable for $56280. debit to Salaries and Wages Payable for $61760. credit to Cash for $70600.
Homework Answers
Solution:
The entry to record the payment of net payroll would include a debit to Salaries and Wages Payable = Salaries expense - FICA Taxes withheld - Income taxes withheld - Medical insurance deductions
= $93,600 - $7,160 - $19,500 - $3,500
= $63,440
Hence first option is correct.
Add Answer to:
The following totals for the month of April were taken from the
payroll records of Marigold...
The following totals for the month of April were taken from the payroll records of Sunland...
The following totals for the month of April were taken from the payroll records of Sunland Company. Salaries $115200 FICA taxes withheld 8810 Income taxes withheld 24000 Medical insurance deductions 4300 Federal unemployment taxes 310 State unemployment taxes 2070 The entry to record accrual of employer’s payroll taxes would include a A debit to Payroll Tax Expense for $2380. B credit to FICA Taxes Payable for $17620. C debit to Payroll Tax Expense for $11190. D credit to Payroll Tax...
Multiple Choice Question 113 The following totals for the month of April were taken from the payroll records of Win...
Multiple Choice Question 113 The following totals for the month of April were taken from the payroll records of Windsor Company. Salaries $141600 FICA taxes withheld 10830 Income taxes withheld 29500 Medical insurance deductions 5300 Federal unemployment taxes 380 State unemployment taxes 2550 The journal entry to record the monthly payroll on April 30 would include a O credit to Salaries and Wages Payable for $141600. O debit to Salaries and Wages Expense for $141600. O debit to Salaries and...
The following totals for the month of April were taken from the payroll records of Noll Company Salaries FICA taxes...
The following totals for the month of April were taken from the payroll records of Noll Company Salaries FICA taxes withheld Income taxes withheld Medical insurance deductions Federal unemployment taxes State unemployment taxes $120,000 9,180 25,000 4 500 320 2,160 0 1) credit to Federal Unemployment Taxes Payable for $320. 2) debit to Federal Unemployment Taxes Expense for $320. 3) credit to Payroll Tax Expense for $320. 4) debit to Federal Unemployment Taxes Payable for $320.
Testbank, Question 47 The following totals for the month of April were taken from the payroll...
Testbank, Question 47 The following totals for the month of April were taken from the payroll register of Branson Corp.: Gross salaries CPP withheld Employee income taxes withheld Medical insurance deductions El withheld Union dues withheld $26,850 1,330 5,785 930 478 446 The journal entry to record payment of the net payroll would include a debit to Salaries Payable for $17,881. debit to Salaries Payable for $15,300. e debit to Salaries Payable for $21,065. credit to Cash for $26,850.
Question 4 View Policies Current Attempt in Progress The following totals for the month of April...
Question 4 View Policies Current Attempt in Progress The following totals for the month of April were taken from the payroll records of Wildhorse Co.. Salaries $97200 FICA taxes withheld 7435 Income taxes withheld 21400 Medical insurance deductions 3900 Federal unemployment taxes 780 State unemployment taxes 4900 The entry to record accrual of employer's payroll taxes would include a O debit to Payroll Tax Expense for $13115. O credit to Payroll Tax Expense for $13115. O credit to FICA Taxes...
Use this information to answer the following questions. The following totals for the month of November...
Use this information to answer the following questions. The following totals for the month of November were tak month of November were taken from the payroll register of Levine Company: $12.000 550 2,500 250 200 4,000 Salaries expense Social security and Medicare taxes withheld Income taxes withheld Medical insurance deductions Life insurance deductions Salaries subject to federal and state unemployment taxes of 6.2 percent The journal entry to record the monthly payroll on November 30 would include a a. debit...
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 withheld FICA taxes withheld Health insurance premiums withheld Union dues withheld Salarles (Included above) subject to federal unemployment taxes Salaries (included above) subject to state unemployment taxes $34,000 67,000 19,000 7.500 1.800 1.200 55.000 58.000 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...
12 Use this information to answer the following 3 questions The following totals for the month...
12 Use this information to answer the following 3 questions The following totals for the month of November were taken from the payroll register of Levine Company: salaries expense Social security and Medicare taxes withheld Incom e taxes withheld Medical insurance deductions Life insurance deductions Salaries subject to federal and state unemployment taxes of 6.2 percent $12,000 550 2,500 250 200 4,000 The journal entry to record the monthly payroll on November 30 would include a a. b. c. d....
illings s tanding 23. The following amounts were taken from the April payroll record -Wages $10,000...
illings s tanding 23. The following amounts were taken from the April payroll record -Wages $10,000 were taken from the April payroll records of Pearson Company Federal income taxes withheld $2,000 State income taxes withheld $500 -FICA taxes withheld $765 Assume Pearson Company is required to match the FICA how much payroll tax expense should Pearson Company record for Apr a $4030 b. $3.265 pany is required to match the FICA tax of 5765 that was withheld from the employees...
Exercise 9-8 Recording payroll LO P2, P3 The following monthly data are taken from Ramirez Company...
Exercise 9-8 Recording payroll LO P2, P3
The following monthly
data are taken from Ramirez Company at July 31: Sales salaries,
$660,000; Office salaries, $132,000; Federal income taxes withheld,
$198,000; State income taxes withheld, $44,000; Social security
taxes withheld, $49,104; Medicare taxes withheld, $11,484; Medical
insurance premiums, $16,000; Life insurance premiums, $13,000;
Union dues deducted, $10,000; and Salaries subject to unemployment
taxes, $68,000. The employee pays 40% of medical and life insurance
premiums. Assume that FICA taxes are identical to...
Multiple Choice Question 113 The following totals for the month of April were taken from the payroll records of Windsor Company. Salaries $141600 FICA taxes withheld 10830 Income taxes withheld 29500 Medical insurance deductions 5300 Federal unemployment taxes 380 State unemployment taxes 2550 The journal entry to record the monthly payroll on April 30 would include a O credit to Salaries and Wages Payable for $141600. O debit to Salaries and Wages Expense for $141600. O debit to Salaries and...
The following totals for the month of April were taken from the payroll records of Noll Company Salaries FICA taxes withheld Income taxes withheld Medical insurance deductions Federal unemployment taxes State unemployment taxes $120,000 9,180 25,000 4 500 320 2,160 0 1) credit to Federal Unemployment Taxes Payable for $320. 2) debit to Federal Unemployment Taxes Expense for $320. 3) credit to Payroll Tax Expense for $320. 4) debit to Federal Unemployment Taxes Payable for $320.
Testbank, Question 47 The following totals for the month of April were taken from the payroll register of Branson Corp.: Gross salaries CPP withheld Employee income taxes withheld Medical insurance deductions El withheld Union dues withheld $26,850 1,330 5,785 930 478 446 The journal entry to record payment of the net payroll would include a debit to Salaries Payable for $17,881. debit to Salaries Payable for $15,300. e debit to Salaries Payable for $21,065. credit to Cash for $26,850.
Question 4 View Policies Current Attempt in Progress The following totals for the month of April were taken from the payroll records of Wildhorse Co.. Salaries $97200 FICA taxes withheld 7435 Income taxes withheld 21400 Medical insurance deductions 3900 Federal unemployment taxes 780 State unemployment taxes 4900 The entry to record accrual of employer's payroll taxes would include a O debit to Payroll Tax Expense for $13115. O credit to Payroll Tax Expense for $13115. O credit to FICA Taxes...
Use this information to answer the following questions. The following totals for the month of November were tak month of November were taken from the payroll register of Levine Company: $12.000 550 2,500 250 200 4,000 Salaries expense Social security and Medicare taxes withheld Income taxes withheld Medical insurance deductions Life insurance deductions Salaries subject to federal and state unemployment taxes of 6.2 percent The journal entry to record the monthly payroll on November 30 would include a a. debit...
Recording Payroll and Payroll Taxes Beamon Corporation had the following payroll for April: Officers' salaries Sales salaries Federal income taxes withheld FICA taxes withheld Health insurance premiums withheld Union dues withheld Salarles (Included above) subject to federal unemployment taxes Salaries (included above) subject to state unemployment taxes $34,000 67,000 19,000 7.500 1.800 1.200 55.000 58.000 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...
12 Use this information to answer the following 3 questions The following totals for the month of November were taken from the payroll register of Levine Company: salaries expense Social security and Medicare taxes withheld Incom e taxes withheld Medical insurance deductions Life insurance deductions Salaries subject to federal and state unemployment taxes of 6.2 percent $12,000 550 2,500 250 200 4,000 The journal entry to record the monthly payroll on November 30 would include a a. b. c. d....
illings s tanding 23. The following amounts were taken from the April payroll record -Wages $10,000 were taken from the April payroll records of Pearson Company Federal income taxes withheld $2,000 State income taxes withheld $500 -FICA taxes withheld $765 Assume Pearson Company is required to match the FICA how much payroll tax expense should Pearson Company record for Apr a $4030 b. $3.265 pany is required to match the FICA tax of 5765 that was withheld from the employees...
Exercise 9-8 Recording payroll LO P2, P3
The following monthly
data are taken from Ramirez Company at July 31: Sales salaries,
$660,000; Office salaries, $132,000; Federal income taxes withheld,
$198,000; State income taxes withheld, $44,000; Social security
taxes withheld, $49,104; Medicare taxes withheld, $11,484; Medical
insurance premiums, $16,000; Life insurance premiums, $13,000;
Union dues deducted, $10,000; and Salaries subject to unemployment
taxes, $68,000. The employee pays 40% of medical and life insurance
premiums. Assume that FICA taxes are identical to...
Most questions answered within 3 hours.
-
(a) Calculate the momentum of a 2150 kg elephant charging a
hunter at a speed of...
asked 1 minute ago -
all the following is an example of a fixed cost except: any cost
that changes in...
asked 3 minutes ago -
Briefly describe the changes in pupil diameter that occur with
changes in light intensity or distance...
asked 3 minutes ago -
A small sample from a vial of phenol melts at 39-40 °C. A larger
sample from...
asked 5 minutes ago -
Draw a δ-lysine amino acid and label all the carbons (alpha,
beta, gamma, etc.)
asked 18 minutes ago -
A uniform thin rod of length 0.97 m and mass 2.2 kg lies in a
horizontal...
asked 11 minutes ago -
A 110 kg horizontal beam is supported at each end. A 340 kg
piano rests at...
asked 12 minutes ago -
Python 3.0 Please
Write a function that takes, as arguments, a binary string, a
list of...
asked 13 minutes ago -
Case 5: World Food Programme: A Quarter a Day Keeps the
Hunger Away
Case Summary: Established...
asked 18 minutes ago -
What do the suction port connection adapter and gasket do in 2
Cylinder refrigerant gas piston...
asked 18 minutes ago -
Computer Programming II CS141(Java)
Mention the appropriate relationship between following
classes:
HOD–StaffMember
Car–Ferrari
Student-Address
BankAccount–FixedAccount
House-Building...
asked 3 hours ago -
Assume one of your finals has 50 questions on it, and
lucky for you, it's all...
asked 4 hours ago