Homework Answers
| Assets | = | Liabilities | + | Stockholders' Equity | ||||||||||
| Retained Earnings | ||||||||||||||
| Cash | = | Salaries & Wages Pay. | Fed. Inc. Taxes Pay. | FICA Taxes Pay. | St. Inc. Taxes Pay. | Union Dues Pay. | State Unemp. Taxes Pay. | + | Common Stock | Revenue | Expense | Dividend | ||
| (a) Mar. 31 | 57124 | 8906 | 5814 | 3681 | 475 | 76000 | Salaries & Wages Exp. | |||||||
| (b) Mar. 31 | 5814 | 831 | 6645 | Payroll Tax Exp. | ||||||||||
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Exercise 8-4 During the month of March, Oriole Company's employees earned wages of $76,000. Withholdings related...
RCES Exercise 8-4 ent During the month of March, Blossom Company's employees earned wages of $83,000....
RCES Exercise 8-4 ent During the month of March, Blossom Company's employees earned wages of $83,000. Withholdings related to these wages were $6,350 for Social Security (FICA), $9,727 for federal income tax, $4,020 union dues. The company incurred no cost related to these earmings for federal unemployment tax but incurred $908 for state unemployment tax (a) Prepare a tabular summary to record salaries and wages expense and salaries and wages payable on March 31. Assume that wages earned during March...
During the month of February, Indigo Corporation's employees earned wages of $105,080. Withholdings related to these wa...
During the month of February, Indigo Corporation's employees earned wages of $105,080. Withholdings related to these wages were $8,039 for Social Security (FICA), $10,082 for federal income tax, and $2,698 for state income tax. Costs incurred for unemployment taxes were $156 for federal and $227 for state. Prepare a tabular summary to record on February 28 (a) (b) Salaries and wages expense and salaries and wages payable assuming that all February wages will be paid in March The company's payroll...
During the month of March, Oriole Company's employees earned wages of $80,000. Withholdings related to these wages...
During the month of March, Oriole Company's employees earned wages of $80,000. Withholdings related to these wages were $6,120 for FICA, $9,600 for federal income tax, $4,000 for state income tax, and $480 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $800 for state unemployment tax. Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March...
During the month of March, Pharoah Company's employees earned wages of $60,000. Withholdings related to these...
During the month of March, Pharoah Company's employees earned
wages of $60,000. Withholdings related to these wages were $4,590
for FICA, $7,200 for federal home tax, $3,000 for state income tax,
and $360 for union dues. The company incurred no cost related to
these earnings for federal unemployment tax but incurred $600 for
state unemployment tax.
Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March...
During the month of March, Sheridan Company's employees earned wages of $84,000. Withholdings related to these...
During the month of March, Sheridan Company's employees earned wages of $84,000. Withholdings related to these wages were $6.126 for FICA, $10,080 for federal income tax, $4,200 for state income tax, and $504 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $840 for state unemployment Prepare the necessary March 31 Journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will...
Question 3 During the month of March, Sheridan Company's employees earned wages of $67,000. Withholdings related...
Question 3 During the month of March, Sheridan Company's employees earned wages of $67,000. Withholdings related to these wages were $5,126 for Social Security (FICA), 7,852 for federal income tax, $3,245 for state income tax, and $419 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $733 for state unemployment tax Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that...
Do It! Review 8-1b During the month of February, Grouper Corp.'s employees earned wages of $84,360....
Do It! Review 8-1b During the month of February, Grouper Corp.'s employees earned wages of $84,360. Withholdings related to these wages were $6,454 for Social Security (FICA), $8,094 for federal income tax, and $2,166 for state income tax. Costs ir for unemployment taxes were $125 for federal and $182 for state. Prepare a tabular summary to record on February 28 (a) Salaries and wages expense and salaries and wages payable assuming that all February wages will be paid in March...
During the month of March, Cullumber Company’s employees earned wages of $54,000. Withholdings related to these...
During the month of March, Cullumber Company’s employees earned
wages of $54,000. Withholdings related to these wages were $4,131
for FICA, $6,480 for federal income tax, $2,700 for state income
tax, and $324 for union dues. The company incurred no cost related
to these earnings for federal unemployment tax but incurred $540
for state unemployment tax.
Prepare the necessary March 31 journal entry to record salaries
and wages expense and salaries and wages payable. Assume that wages
earned during March...
During the month of March, Sunland Company's employees earned wages of $48,000. Withholdings related to these...
During the month of March, Sunland Company's employees earned wages of $48,000. Withholdings related to these wages were 53.672 for FICA 55.760 for federal income tax, $2.400 for state income tax, and $200 for unlondues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $480 for state unemployment tax. Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will...
During the month of March, Cullumber Company’s employees earned wages of $54,000. Withholdings related to these...
During the month of March, Cullumber Company’s employees earned
wages of $54,000. Withholdings related to these wages were $4,131
for FICA, $6,480 for federal income tax, $2,700 for state income
tax, and $324 for union dues. The company incurred no cost related
to these earnings for federal unemployment tax but incurred $540
for state unemployment tax.
Prepare the entry to record the company’s payroll tax expense.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually.)...
RCES Exercise 8-4 ent During the month of March, Blossom Company's employees earned wages of $83,000. Withholdings related to these wages were $6,350 for Social Security (FICA), $9,727 for federal income tax, $4,020 union dues. The company incurred no cost related to these earmings for federal unemployment tax but incurred $908 for state unemployment tax (a) Prepare a tabular summary to record salaries and wages expense and salaries and wages payable on March 31. Assume that wages earned during March...
During the month of February, Indigo Corporation's employees earned wages of $105,080. Withholdings related to these wages were $8,039 for Social Security (FICA), $10,082 for federal income tax, and $2,698 for state income tax. Costs incurred for unemployment taxes were $156 for federal and $227 for state. Prepare a tabular summary to record on February 28 (a) (b) Salaries and wages expense and salaries and wages payable assuming that all February wages will be paid in March The company's payroll...
During the month of March, Oriole Company's employees earned wages of $80,000. Withholdings related to these wages were $6,120 for FICA, $9,600 for federal income tax, $4,000 for state income tax, and $480 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $800 for state unemployment tax. Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March...
During the month of March, Pharoah Company's employees earned
wages of $60,000. Withholdings related to these wages were $4,590
for FICA, $7,200 for federal home tax, $3,000 for state income tax,
and $360 for union dues. The company incurred no cost related to
these earnings for federal unemployment tax but incurred $600 for
state unemployment tax.
Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March...
During the month of March, Sheridan Company's employees earned wages of $84,000. Withholdings related to these wages were $6.126 for FICA, $10,080 for federal income tax, $4,200 for state income tax, and $504 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $840 for state unemployment Prepare the necessary March 31 Journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will...
Question 3 During the month of March, Sheridan Company's employees earned wages of $67,000. Withholdings related to these wages were $5,126 for Social Security (FICA), 7,852 for federal income tax, $3,245 for state income tax, and $419 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $733 for state unemployment tax Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that...
Do It! Review 8-1b During the month of February, Grouper Corp.'s employees earned wages of $84,360. Withholdings related to these wages were $6,454 for Social Security (FICA), $8,094 for federal income tax, and $2,166 for state income tax. Costs ir for unemployment taxes were $125 for federal and $182 for state. Prepare a tabular summary to record on February 28 (a) Salaries and wages expense and salaries and wages payable assuming that all February wages will be paid in March...
During the month of March, Cullumber Company’s employees earned
wages of $54,000. Withholdings related to these wages were $4,131
for FICA, $6,480 for federal income tax, $2,700 for state income
tax, and $324 for union dues. The company incurred no cost related
to these earnings for federal unemployment tax but incurred $540
for state unemployment tax.
Prepare the necessary March 31 journal entry to record salaries
and wages expense and salaries and wages payable. Assume that wages
earned during March...
During the month of March, Sunland Company's employees earned wages of $48,000. Withholdings related to these wages were 53.672 for FICA 55.760 for federal income tax, $2.400 for state income tax, and $200 for unlondues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $480 for state unemployment tax. Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will...
During the month of March, Cullumber Company’s employees earned
wages of $54,000. Withholdings related to these wages were $4,131
for FICA, $6,480 for federal income tax, $2,700 for state income
tax, and $324 for union dues. The company incurred no cost related
to these earnings for federal unemployment tax but incurred $540
for state unemployment tax.
Prepare the entry to record the company’s payroll tax expense.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually.)...
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