How To Fill Out Employer's QUARTERLY Federal Tax Return?
Karen Kluster opened Lube and Wash on January 2,20--. The business is subject to FICA taxes.
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How do I fill the rest of this out and do the journal entries Employer's Taxes...
How do I fill the rest of this out and do the journal
entries
Employer's Taxes on 8/25 payroll Taxes 6.2% 0.6% FUTA $7,000 cap 2.15% SUTA $7,000 cap 8% Pension Plan Total Tax Expense MC Pay Employees' Earnings for week ended 8/25 Withholdings (deductions from gross) YTD Federal 3% Earnings Income Tax State $137,700 cap 1.45% Gross Pay With Income FICA FICA Health Name through 8/18 Gross Pay holding Tax SS Insurance Chee $ 204,000 7,000.00 2,100.00 164.50 75.00...
How do I fill out the rest of this table Employer's Taxes on 8/25 payroll Pay...
How do I fill out the rest of this table
Employer's Taxes on 8/25 payroll Pay Taxes 0.6% Net FICA FICA FUTA $7,000 cap 2.15% SUTA $7,000 cap 8% Pension Plan Total Tax Expense Health Insurance 75 МС Name Chee Dali Kiesha Marie Trey YTD Earnings Gross Pay through 8/18 $ 204,000 $ 132,500 $ 54,200 $ 26,508 $ 5,580 Totals Employees' Earnings for week ended 8/25 Withholdings (deductions from gross) Federal 3% 6.2% Income Tax State $137,700 cap 1.45%...
I need to figure out the September earnings subject to tax for FUTA & SUTA. And...
I need to figure out the September earnings subject to tax for
FUTA & SUTA. And also the general journal.
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7.000 paid to its employee. Gross Pay through August 31 $ 5,600 2,550 123,200 Gross Pay for...
Please also show how to get figure for earnings subject to tax Problem 11-3A Payroll expenses,...
Please also show how to get figure for earnings subject to
tax
Problem 11-3A Payroll expenses, withholdings, and toxes LO P2, P3 Paloma Co. has four employees, FICA Social Security taxes are 6.2% of the first $118,500 paid to each employee, and RCA Medicare taxes are 1 45% of gross pay Also, for the first $7000 paid to each employee, the company's FUTA taxes are 06% and SUTA taxes are 215%. The company is preparing its payroll calculations for the...
Amount Subject to Payroll Taxes Unemployment Tax Payroll Wages Due FICA Federal State Factory $122,200 $122,200...
Amount Subject to Payroll Taxes Unemployment Tax Payroll Wages Due FICA Federal State Factory $122,200 $122,200 $36,200 $36,200 Sales 33,500 33,500 3,900 3,900 Administrative 35,500 35,500 xxxx xxxx Total $191,200 $191,200 $40,100 $40,100 At this point in the year, some employees have already received wages in excess of those to which payroll taxes apply. Assume that the state unemployment tax is 2.5%. The FICA rate is 7.65% on an employee’s wages to $118,500 and 1.45% in excess of $118,500. Of...
Accounting Question, Help me fill this out, please! Paloma Co. has four employees. FICA Social Security...
Accounting Question, Help me fill this out, please!
Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $128,400 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5.4%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees....
EI1.11 (LO 3) Ramirez Company has the following data for the weekly payroll ending January 31. Federal Income Tax Withholding $34 37 58 Health Insurance $10 25 25 Hours Hourly Employee L. Helton R...
EI1.11 (LO 3) Ramirez Company has the following data for the weekly payroll ending January 31. Federal Income Tax Withholding $34 37 58 Health Insurance $10 25 25 Hours Hourly Employee L. Helton R. Kenseth 8 8 8 8 8 2 D. Tavaras 9 10 8 8 9 0 M T W TF S Rate 8 8 9 8 10 3 $12 14 15 Employees are paid 112 times the regular hourly rate for all hours worked in excess of...
Tax return. Fill out a 2019 form 1040, as well as Schedule A, for the following...
Tax return. Fill out a 2019 form 1040, as well as Schedule A, for the following situation: Married couple, filing jointly, with two minor dependent children Wife had W-2 salary income of $150,000; husband had W-2 salary income of $110,000 The couple had a capital loss on selling stock of $8.900 The mother received an inheritance from her deceased aunt of $98,000 The couple made an IRA contribution of $4,000 (this is a payment) The couple had the following potential...
1. Kopel was engaged to prepare Raff's 20x9 federal income tax return. During the tax preparation...
1. Kopel was engaged to prepare Raff's 20x9 federal income tax return. During the tax preparation interview, Raff told Kopel that he paid $3,000 in property taxes in 20x9. Actually, Raff's property taxes amounted to only $600. Based on Raff's word, Kopel had no reason to believe that the information was incorrect. Kopel did not request underlying documentation and was reasonably satisfied by Raff's representation that Raff had adequate records to support the deduction. Is Kopel subject to the preparer...
I need help on the following 2 questions. can someone help me out? Serial Problem Business...
I
need help on the following 2 questions. can someone help me out?
Serial Problem Business Solutions LO P2, P3, C2 Following are some transactions and events of Business Solutions, Feb. 26 The company paid cash to Lyn Addie for eight days' work at $130 per day. Mar. 25 The company sold merchandise with a $2,012 cost for $2,800 on credit to Wildcat Services, invoice dated March 25. Book Required: 1. Assume that Lyn Addie is an unmarried employee. Her...
How do I fill the rest of this out and do the journal
entries
Employer's Taxes on 8/25 payroll Taxes 6.2% 0.6% FUTA $7,000 cap 2.15% SUTA $7,000 cap 8% Pension Plan Total Tax Expense MC Pay Employees' Earnings for week ended 8/25 Withholdings (deductions from gross) YTD Federal 3% Earnings Income Tax State $137,700 cap 1.45% Gross Pay With Income FICA FICA Health Name through 8/18 Gross Pay holding Tax SS Insurance Chee $ 204,000 7,000.00 2,100.00 164.50 75.00...
How do I fill out the rest of this table
Employer's Taxes on 8/25 payroll Pay Taxes 0.6% Net FICA FICA FUTA $7,000 cap 2.15% SUTA $7,000 cap 8% Pension Plan Total Tax Expense Health Insurance 75 МС Name Chee Dali Kiesha Marie Trey YTD Earnings Gross Pay through 8/18 $ 204,000 $ 132,500 $ 54,200 $ 26,508 $ 5,580 Totals Employees' Earnings for week ended 8/25 Withholdings (deductions from gross) Federal 3% 6.2% Income Tax State $137,700 cap 1.45%...
I need to figure out the September earnings subject to tax for
FUTA & SUTA. And also the general journal.
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7.000 paid to its employee. Gross Pay through August 31 $ 5,600 2,550 123,200 Gross Pay for...
Please also show how to get figure for earnings subject to
tax
Problem 11-3A Payroll expenses, withholdings, and toxes LO P2, P3 Paloma Co. has four employees, FICA Social Security taxes are 6.2% of the first $118,500 paid to each employee, and RCA Medicare taxes are 1 45% of gross pay Also, for the first $7000 paid to each employee, the company's FUTA taxes are 06% and SUTA taxes are 215%. The company is preparing its payroll calculations for the...
Accounting Question, Help me fill this out, please!
Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $128,400 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5.4%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees....
EI1.11 (LO 3) Ramirez Company has the following data for the weekly payroll ending January 31. Federal Income Tax Withholding $34 37 58 Health Insurance $10 25 25 Hours Hourly Employee L. Helton R. Kenseth 8 8 8 8 8 2 D. Tavaras 9 10 8 8 9 0 M T W TF S Rate 8 8 9 8 10 3 $12 14 15 Employees are paid 112 times the regular hourly rate for all hours worked in excess of...
I
need help on the following 2 questions. can someone help me out?
Serial Problem Business Solutions LO P2, P3, C2 Following are some transactions and events of Business Solutions, Feb. 26 The company paid cash to Lyn Addie for eight days' work at $130 per day. Mar. 25 The company sold merchandise with a $2,012 cost for $2,800 on credit to Wildcat Services, invoice dated March 25. Book Required: 1. Assume that Lyn Addie is an unmarried employee. Her...
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