Assignment 8

Continuing Payroll Problem, 4B: Chapter 4   This problem continues the process of preparing the Olney Company's Employee Payroll Register for the pay period ending January 8th, 20--. In previous chapters, gross wages were computed for each employee and using this data, FICA withholding and employer FICA liability was computed. This information is shown in the Employee Payroll Register. Requirement: Refer to the SIMPLE Plan Contributions table and enter each employee's SIMPLE plan deduction. Determine and record the federal income taxes for each employee. Determine and record the state income taxes for each employee. Determine and record the city income taxes for the Chalfont Boro residents. Total each input column. A SIMPLE IRA is a retirement plan that may be established by employers, including self-employed individuals (sole proprietorships and partnerships). The SIMPLE IRA allows eligible employees to contribute part of their pretax compensation to the plan. This means the tax on…

Exercise Al-2 Calculating payroll deductions and recording the payroll LO2 The following information as to earnings and deductions for the weekly pay period ended March 9 was taken from a company's payroll records Weekly Gross Earnings to End of Previous Income Health Insurance Fay Deductions $ 900 870 Hellen Craig Joseph Lin Dine Patelli Sharleen McFer Taxes $12,510 $144.55 $ 37.00 13,440 113.63 19,140 173,72 24.00 36.00 1,090 1,940 32,628 458.72 24.00 $4,900 $930.62 $121.00 Required: 1. Calculate the employees' El and CPP withholdings and the amounts paid to each employee. (Do not round intermediate calculations. Round the final answers to 2 decimal places) Deductions Employee Gross Pay Health Insurance Total Deductions Premium Net Pay $ 37.00 24.00 36 00 24 00 eese on Hellen Craig Joseph Lim Dino Patel Sharleen McFee S 4 980 00 870 00 1,000 00 1,960 00 nnnn Income Taxes $ 144 55 113.63 173 72 496 72 anes t CPP

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ayroll Register and Payroll Journal Entry 1.  Prepare a payroll register for Mary’s Luxury Travel for the week ended March 22, 20--. (In the Taxable Earnings/Unemployment Compensation column, enter the same amounts as in the Social Security column.) Total the amount columns. Round your answers to the nearest cent. 2.  Assuming that the wages for the week ended March 22 were paid on March 24, prepare the journal entry for the payment of the payroll. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. Mary Losch operates a travel agency called Mary’s Luxury Travel. She has five employees, all of whom are paid on a weekly basis. The travel agency uses a payroll register, individual employee earnings records, and a general journal. Mary’s Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8-4 in the text. The payroll data for each employee for the week ended March 22, 20—, are given below. Employees…

Journalize the company payroll for the semimonthly period ending on August 31. Journalize the payment of total payroll and deductions using the totals from the payroll register.               2. Payroll will be paid with check number 1152.   Completed payroll register attached.

Prepare a payroll check using the information from the payroll register for Bill Brown for the pay period ending on August 31. Fill out the check stub using information from the payroll register. Prepare the check. Sign your name.   Use name Yaira Hundley. Completed payroll register is attached.

Which one is the correct answer?

Subject - account  Please help me.  Thankyou.

Completing the Payroll Register The Employee Payroll Register presents all the computations previously performed as it applies to this payroll period. Complete the following steps (if a field should be blank, leave it blank): Record the amount to be withheld for group insurance. Record the amount to be withheld for health insurance. Each worker is to be paid by check. Assign check numbers provided to the correct employee. Compute the net pay for each employee. Total the input columns.   KIPLEY COMPANY, INC.Payroll RegisterFor Period Ending January 8, 20--   EARNINGS DEDUCTIONS NET PAY Name Gross OASDI HI FIT SIT SUTA CIT SIMPLE Grp. Ins. Health Ins. Ck. No. Amount Carson, F. $700.00 $43.40 $10.15 $48.00 $21.49 $0.42 $21.00 $20.00         Wilson, W. 897.04 55.62 13.01 68.00 27.54 0.54 26.91 50.00         Utley, H. 678.75 42.08 9.84 14.00 20.84 0.41 20.36 40.00         Fife, L. 877.10 54.38 12.72 33.00 26.93 0.53 26.31 50.00         Smith, L. 790.00 48.98 11.46 59.00…

Stark Company has five employees. Employees paid by the hour earn $14 per hour for the regular 40-hour workweek and $21 per hour beyond the 40 hours per week. Hourly employees are paid every two weeks, but salaried employees are paid monthly on the last biweekly payday of each month. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. The company has a benefits plan that includes medical insurance, life insurance, and retirement funding for employees. Under this plan, employees must contribute 5% of their gross income as a payroll withholding, which the company matches with double the amount. Following is the partially completed payroll register for the biweekly period ending August 31, which is the last payday of August. a. Complete this payroll register by filling in all cells for the pay period ended August 31. Prepare…

Could you help me fill in all the blank spaces in this Excel table?Please tell me the formula so I can do it with an Excel formula.Thank you very much . In the appropriate columns of your payroll register, record the filing status for eachemployee using the information provided.2. Record the payroll deductions for the SIMPLE plan that the employer has established forparticipating employees. All of the employees are participating, and their weeklycontributions are listed below. The tax deferral on these deductions applies only to thefederal income tax.3. Record the amount of federal income taxes using the wage-bracket method and standardwithholding.4. Record the state income taxes on the gross weekly earnings for each employee. The rateis 3.07% for the state of Pennsylvania.5. Record the city income taxes on the gross weekly earnings of each employee. The rate is3% for the city of Pittsburgh residents.Time CardNo.FilingStatusNo. of WithholdingAllowancesSIMPLEDeductions11 S N/A $2012 S…

PSb 3-10 Populate a Payroll Register Complete the FWT column (wage-bracket method) and SWT column of the payroll register using the employee data listed below. The associated pay period ends on 07/19/2020 (enter the year using four digits), with paychecks being printed and distributed six days later. Every employee earns hourly overtime wages 1.5 times greater than their regular wage rate. Enter all employees' names in the format Last Name, First Initial (for example: Rick Smith would be written as Smith, R). The state income tax withholding rate is 5.0% of taxable pay, with taxable pay being the same for federal and state income tax withholding. Note that the Voluntary Withholding column, for which partial information is provided below, has been populated based on the partial information shown here. 1. Jimmy Troffa earns $7.80/hour, and worked 41 hours during the most recent week. He makes a 401(k) retirement plan contribution of 9.0% of gross pay each period. Jimmy Troffa is married,…

Calculation of Taxable Earnings and Employer Payroll Taxes, and Preparation of Journal Entry 1.  Calculate the amount of taxable earnings for unemployment, Social Security, and Medicare taxes. 2.  Prepare the journal entry to record the employer's payroll taxes as of October 7, 20--. Round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Selected information from the payroll register of Howard's Cutlery for the week ended October 7, 20--, is presented below. Social Security tax is 6.2% on the first $118,500 of earnings for each employee. Medicare tax is 1.45% on gross earnings. FUTA tax is 0.6% and SUTA tax is 5.4% on the first $7,000 of earnings. Taxable Earnings Employee Name Cumulative PayBefore CurrentEarnings CurrentGross Pay UnemploymentCompensation SocialSecurity Carlson, David J.       $6,635      $950       Delgado, Luisa   6,150      1,215       Lewis, Arlene S.   54,375      2,415       Nixon, Robert R.   53,870…

McLoyd Company completed the salaries and wages payroll for March. The payroll provided the following details: Salaries and wages earned Employee income taxes withheld FICA taxes withheld Unemployment taxes Required: 1. Considering both employee and employer payroll taxes, use the preceding information to calculate the total labor cost for the company for March. 2. & 3. Prepare the journal entry to record the payroll for March, including employee deductions (but excluding employer payroll taxes) and record employer's FICA taxes and unemployment taxes. Complete this question by entering your answers in the tabs below. Req 1 $ 400,000 37,000 28,600 2,780 Req 2 and 3 Total Labor Cost Considering both employee and employer payroll taxes, use the preceding information to calculate the total labor cost for the company for March.

Required information [The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 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. a. b. C. Gross Pay through Gross Pay for September August 31 $ 5,200 $ 2,400 2,700 132, 100 Assuming situation (a), prepare the employer's September 30 journal entry to record salary expense and its related payroll liabilities for this employee. The employee's federal income taxes withheld by the employer are $90 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to be Withheld From Gross Pay 2,800 8,700 General Journal The employee's federal income taxes withheld by the employer are $90 for this pay period. Assuming situation (a), compute the taxes to be withheld from gross pay for this employee.…