Assume a weekly payroll of $75,000 entirely subject to F.LC.A, and Medicare (7.65%), federal (0.8%) and state (4%) unemployment taxes, with income tax withholding of $1,520 and union dues of $99...

Question

Question

Assume a weekly payroll of $75,000 entirely subject to F.LC.A, and Medicare (7.65%), federal (0.8%) and state (4%) unemployme

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

SoluHon ASSume a coeek 99 deduched $15209, union dueS Acount iHe coag e Expense tc. To flcA o Dale To Ca 3738 to gtahe unemeu

Add a comment

Answer 2

Similar Homework Help Questions

Total January payroll for Katen Industries’ 500 union employees was $1,960,000. Federal and state income taxes...

Total January payroll for Katen Industries’ 500 union employees was $1,960,000. Federal and state income taxes withheld were $291,000 and $75,000, respectively. The state unemployment tax is 1.9%, the federal unemployment tax is 0.8%, and the combined F.I.C.A. Social and Medicare tax is 7.65% on an employee’s salaries and wages. Katen also withholds union dues of $25 each month for each union employee to be remitted to the union by Katen. Required: (a) Prepare Katen’s January 2017 Payroll entry. (b)...
a.) Mr. Johnson receives a payroll of $8,000 from his employer entirely subject to FICA and...

a.) Mr. Johnson receives a payroll of $8,000 from his employer entirely subject to FICA and Medicare (7.65%), federal (0.8%) and state (4%) unemployment taxes, with income tax withholding of $900 and union dues of $40 deducted. Please write the journal entries that the employer makes to record: a. the salary paid to Mr. Johnson and his payroll deduction; b. the employer’s payroll taxes. b.) A local dealer Mike Savoie Chevrolet sells five Chevy Silverado pickup truck on...
Officers' salaries Sales salaries Federal income taxes withheld FICA taxes withheld Health insurance premiums withheld Union...

Officers' salaries Sales salaries Federal income taxes withheld FICA taxes withheld Health insurance premiums withheld Union dues withheld Salaries (included above) subject to federal unemployment taxes Salaries (included above) subject to state unemployment taxes $36.000 70,000 22,000 10.500 1.900 1.500 58,000 63,000 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 payroll taxes. (Assume that the FICA tax matches the amount withheld, the federal...

The following information pertains to a firm’s payroll. Monthly payroll of $16,000 that is entirely subject...

The following information pertains to a firm’s payroll. Monthly payroll of $16,000 that is entirely subject to: FICA and Medicare taxes (7.65%) Federal taxes (9%) State taxes (3%) In addition, union dues of $500 is also withheld by the employer to be payable to the union. Also, employee monthly contributions to The American Red Cross total $400. In addition, the employer incurs: A matching portion of FICA and Medicare taxes (7.65%) Federal unemployment taxes (1%) State unemployment taxes (3%) Required:...
answers for E11-12 please y is subject to 54% state unemployment taxes and 0.8% federal on...

answers for E11-12 please y is subject to 54% state unemployment taxes and 0.8% federal on the first $7,000 of gross earnings. A taxes are 7.65% on the first $117,000 of gross earnings. Tate for all hours worked in excess of Ramirez unemployment Instructions /a) Prepare the payroll register for the weekly payroll. (b) Prepare the journal entries to record the payroll and Ramirez's payroll tax expense. E11-12 Selected data from a February payroll register for Sutton Company are present...
Officers' salaries $320,000 Sales salaries 670.000 Federal income taxes withheld 190.000 FICA taxes withheld 75,00...

Officers' salaries $320,000 Sales salaries 670.000 Federal income taxes withheld 190.000 FICA taxes withheld 75,000 Health insurance premiums withheld 16.000 Union dues withheld 12.000 Salaries included above) subject to federal unemployment taxes 550,000 Salaries included above) subject to state unemployment taxes 600,000 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 payroll taxes. (Assume that the FICA tax matches the amount withheld, the federal...

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...
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...
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 tithheld FICA taxes withheld Health insurance premiums withheld Union dues withheld Salaries included above) subject to federal unemployment taxes Salaries included abovej subject to state unemployment taxes $320,000 670,000 190,000 75,000 16.000 12.000 550.000 600.000 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...

On January 8, the end of the first weekly pay perlod of the year, Regis Company's payroll register showed that its employees earned $23,760 of office salarles and $70,840 of sales salaries. Withh...

On January 8, the end of the first weekly pay perlod of the year, Regis Company's payroll register showed that its employees earned $23,760 of office salarles and $70,840 of sales salaries. Withholdings from the employees' salarles Include FICA Social Security taxes at the rate of 6.20%, FICA Medicare taxes at the rate of 1.45%, $12.760 of federal income taxes, $1,350 of medical insurance deductions, and $880 of union dues. No employee earned more than $7,000 In this first period....

Assume a weekly payroll of $75,000 entirely subject to F.LC.A, and Medicare (7.65%), federal (0.8%) and state (4%) unemployment taxes, with income tax withholding of $1,520 and union dues of $99...

Homework Answers

Add Answer to:
Assume a weekly payroll of $75,000 entirely subject to F.LC.A, and Medicare (7.65%), federal (0.8%) and state (4%) unemployment taxes, with income tax withholding of $1,520 and union dues of $99...

Post as a guest

Earn Coins

Total January payroll for Katen Industries’ 500 union employees was $1,960,000. Federal and state income taxes...

a.) Mr. Johnson receives a payroll of $8,000 from his employer entirely subject to FICA and...

Officers' salaries Sales salaries Federal income taxes withheld FICA taxes withheld Health insurance premiums withheld Union...

The following information pertains to a firm’s payroll. Monthly payroll of $16,000 that is entirely subject...

answers for E11-12 please y is subject to 54% state unemployment taxes and 0.8% federal on...

Officers' salaries $320,000 Sales salaries 670.000 Federal income taxes withheld 190.000 FICA taxes withheld 75,00...

Amount Subject to Payroll Taxes Unemployment Tax Payroll Wages Due FICA Federal State Factory $122,200 $122,200...

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...

On January 8, the end of the first weekly pay perlod of the year, Regis Company's payroll register showed that its employees earned $23,760 of office salarles and $70,840 of sales salaries. Withh...

Assume a weekly payroll of $75,000 entirely subject to F.LC.A, and Medicare (7.65%), federal (0.8%) and state (4%) unemployment taxes, with income tax withholding of $1,520 and union dues of $99...

Homework Answers

Add Answer to: Assume a weekly payroll of $75,000 entirely subject to F.LC.A, and Medicare (7.65%), federal (0.8%) and state (4%) unemployment taxes, with income tax withholding of $1,520 and union dues of $99...

Post as a guest

Earn Coins

Add Answer to:
Assume a weekly payroll of $75,000 entirely subject to F.LC.A, and Medicare (7.65%), federal (0.8%) and state (4%) unemployment taxes, with income tax withholding of $1,520 and union dues of $99...