Homework Answers
Answer for above question is C as, In the above some the Federal unemployment taxes of $320 was already included. So Now we will credit the Payroll tax expenses for $320
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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 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...
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.
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...
12. On January 1, 2017, Collie Company, a calendar-year company, issued $2,000,000 of notes payable, of...
12. On January 1, 2017, Collie Company, a calendar-year company, issued $2,000,000 of notes payable, of which $500,000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2017, is a. Current liabilities, $2,000,000 b. Long-term debt, $2,000,000 c. Current liabilities, $500,000; Long-term Debt, $1,000,000 d. Current liabilities, $500,000; Long-term Debt, $1,500,000. 13. The following totals for the month of April were taken from the payroll records of Noll Company....
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...
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.
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...
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...
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...
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...
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...
12. On January 1, 2017, Collie Company, a calendar-year company, issued $2,000,000 of notes payable, of which $500,000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2017, is a. Current liabilities, $2,000,000 b. Long-term debt, $2,000,000 c. Current liabilities, $500,000; Long-term Debt, $1,000,000 d. Current liabilities, $500,000; Long-term Debt, $1,500,000. 13. The following totals for the month of April were taken from the payroll records of Noll Company....
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...
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.
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...
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...
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...
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...
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