Question

Data Table Earnings Withholdings Salaries Beginning Current Ending and Cumulative Earnings Total Withholdings Net Pay Check No. Wages Expense OASDI Medicare 801 802 Cumulative Period Earnings Earnings 83,000 $ 4,600 113,000 7,200 40,000 2,400 63,000 3,500 6,000 $ 299,000 $ 23,700 Income Health United Tax Insurance Way $ 460 $ 92 $ 35 2,160 1 44 25 240 48 0 1,050 70 1,800 120 $ 5,710 $ 474 $ 80 803 804 805 0 Print Done

Answer 1

H I J K L M N ор Q R S T F G Ans: Beginning eginning 1) Cumulative earnings Check current Current period Earnings Ending ms cumulative Earnings D-A or B Max limit Whichevel OADSI Medicare For OADSI r lower Income tax Health nited TotalWith insurance way holdings Net pay Salaries and wages expense $83,000.00 $4,600.00 $87,600.00 $118.500.00 $4,600.00 $113,000.00 $7,200.00 $120,200.00 $118.500.00 $5,500.00 $40,000.00 $2,400.00 $42.400.00 $118.500.00 $2,400.00 $63,000.00 $3,500.00 $66,500.00 $118,500.00 $3,500.00 $0.00 $6,000.00 $6,000.00 $118,500.00 $6,000.00 $299,000.00 $23.700.00 $322,700.00 $285.20 $341.00 $148.80 $217.00 $372.00 $1,364.00 $66.70 $460.00 $104.40 $2.160.00 $34.80 $240.00 $50.75 $1,050.00 $87.00 $1,800.00 $343.65 $5,710.00 $92.00 $35.00 $938.90 $3,661.10 $144.00 $25.00 $2.774.40 $4,425.60 $48.00 $0.00 $471.60 $1,928.40 $70.00 $20.00 $1,407.75 $2.092.25 $120.00 $0.00 $2,379.00 $3,621.00 $474.00 $80.00 $7.971.65 $15.728.35 801 $4.600.00 802 $7,200.00 803 $2.400.00 804 $3,500.00 805) $6,000.00 4015 $23.700.00

J K L M N P R Ans: Beginning Cumulative earnings Current period Earnings Ending cumulative Earnings Max D-A or B limit For Whichev OADSI er lower OADSI Medicare Income tax Health insurance United way TotalWithholdings Net pay C heck no. Salaries and wages expense 83000 113000 40000 63000 803 =H6 4600 =SUM(G4:H4) 118500 =14-G4 =H4*1.45% 460 7200 =SUM(G5:H5) 118500 =55-G5 1=K5*6.2% =H5*1.45% 2160 2400 =SUM(G6:H) 118500 =16-G6 I=K6*6.2% =H6*1.45% 240 3500 =SUM(G7:H7)|118500 =17-G7 =K7*6.2% =K7*6.2% =H7*1.45% 1050 70 6000 =SUM(G8:H8) 118500 =I8-G8 =K8*6.2% =H8*1.45% 1800 =SUM(H4:H8) I=SUM(14:18) =SUM(L4:18) =SUM(M4:M8) =SUM(N4:N8) =SUM(04:08) =SUM(L4:P4) =SUM(L5:25) =SUM(L6:P6) =SUM(L 7:P7) =SUM(L 8:P8) =SUM(P4:P8) =SUM(Q4:28) =H4-04 801 =H4 =H5-25 802 I=H5 =H6-06 =H7-27 804 =H8-Q8 =H8 =SUM(R4:R8) =SUM(S4:58) =SUM(T4:18) =H7 120 805 =SUM(G4:G8)

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AB D Credit | Debit $23.700.00 11 2) Date Accounts title and explantion Salaries and wages expense OADSI payable Medicare payable Income tax payable Health insurance payable United way payable Salaries and wages payable (TO RECORD SALARIES AND WAGES EXPENSE AND PAYROLL WITHHOLDINGS) $1,364.00 $343.65 $5,710.00 $474.00 $80.00 $15.728.35 3 $2.067.65 Payroll tax expense OADSI payable Medicare payable FUTA payable SUTA payable (TO RECORD EMPLOYER'S PAYROLL TAX EXPENSE) $1,364.00 $343.65 $36.00 (0.6%*6,000(FIRST 7,000 ONLY) $324.00(5.4%*6,000(FIRST 7,000 ONLY) $15.728.35 Salaries and wages payable Cash (To record payment to employees) $15.728.35 5 ) OADSI payable Medicare payable Income tax payable Health insurance payable United way payable FUTA payable SUTA payable Cash (To record withholdings and employer payroll taxes paid) $2.728.00 $687.30 $5.710.00 $474.00 $80.00 $36.00 $324.00 $9.679.30

A B 10 11 2) Date Credit Debit =H9 Accounts title and explantion Salaries and wages expense OADSI payable Medicare payable Income tax payable Health insurance payable United way payable Salaries and wages payable (TO RECORD SALARIES AND WAGES EXPENSE AND PAYROLL WITHHOLDINGS) I=L9 1=M9 =N9 =09 J=P9 =D12-(SUM(E13-E17) =SUM(E22:25) Payroll tax expense OADSI payable Medicare payable FUTA payable SUTA payable |(TO RECORD EMPLOYER'S PAYROLL TAX EXPENSE) =L9 =M9 =6000*0.6% =6000*5.4% (0.6%*6,000(FIRST 7,000 ONLY) (5.4%*6,000(FIRST 7,000 ONLY) =E18 Salaries and wages payable Cash (To record payment to employees) =D28 OADSI payable Medicare payable Income tax payable Health insurance payable United way payable FUTA payable SUTA payable Cash (To record withholdings and employer payroll taxes paid) =E132 =E14*2 =E15 =E16 =E17 =E24 =E25 =SUM(D32:D36)