The following information as to earnings and deductions for the weekly pay period ended March 9 was taken from a company's precords:Employees' NamesHellen CraigJoseph LimDino PatelliSharleen McFeeEmployeeHellen CraigJoseph LimDino PatelliSharleen McFeeTotalsRequired:1. Calculate the employees' El and CPP withholdings and the amounts paid to each employee. (Do not round Intermediatecalculations. Round the final answers to 2 decimal places.)View transaction listNo1Weekly Gross Earnings to End ofPayPrevious Week$ 7206108301,700$3,860$GrossPayDateMarch 09EPremium$12,51010,32015,50029,500DeductionsIncomeTaxesView journal entry worksheetCPP720.00 $ 11.38 $168.10 $35.57 $ 24.00810.009.64142.0529.5824.00830.0013.11194.6541.5736.001.700.0026.88468.6588.9824.00$ 3,860.00 S 60.99 $ 973 45 $ 195.70 $ 108.00 SIncome Taxes$168.10142.05194.65468.65$973.45General JournalOffice salaries expenseEmployees' income taxes payableEmployees' health insurance payableEl payableCPP payableHealthInsuranceHealth InsuranceDeductions$ 24.0024.0036.0024.00$108.002. Prepare a General Journal entry to record the payroll. Assume all employees work in the office. (Round the final answers to 2decimal places.)TotalDeductions0.00 $Net Pay0.00DebitCredit

Payroll Expenses:The amount paid to the human resources of any business organization is termed…

1. Calculate the employees' El and CPP withholdings and the amounts paid to each employee. (Do not round Intermediat calculations. Round the final answers to 2 decimal places.) Employee Hellen Craig Joseph Lim Dino Patelli Sharleen McFee Totals Gross Pay $ El Premium Deductions Income Taxes 720.00 $ 11.38 610.00 9.64 830.00 13.11 1.700.00 26.88 $ 3,860.00 $ 80.99 $ 973 45 $ $ 168.10 $ 142.05 194.65 468.65 Total Deductions CPP Health Insurance 35.57 $ 24.00 29.58 24.00 41.57 36.00 88.98 24.00 195.70 $ 108.00 $ Net Pay 0.00 $ 0.00

1. Calculate the employees' El and CPP withholdings and the amounts paid to each employee. (Do not round Intermediat calculations. Round the final answers to 2 decimal places.) Employee Hellen Craig Joseph Lim Dino Patelli Sharleen McFee Totals Gross Pay $ El Premium Deductions Income Taxes 720.00 $ 11.38 610.00 9.64 830.00 13.11 1.700.00 26.88 $ 3,860.00 $ 80.99 $ 973 45 $ $ 168.10 $ 142.05 194.65 468.65 Total Deductions CPP Health Insurance 35.57 $ 24.00 29.58 24.00 41.57 36.00 88.98 24.00 195.70 $ 108.00 $ Net Pay 0.00 $ 0.00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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To determine how much to deduct from the gross pay of Jason Parker, an employee of Jensen Ltd., one would look at the earnings record. O Form TD1. O payroll register. O Form T4.
Compute the net pay for each employee and answer the additional requirements that follow: Deductions Employee Basic Pay SSS Philhealth Withholding Tax Ericka Bilango 40,300.00 581.30 550.00 100.00 P 3,933.84 Alani Ching 37,600.00 581.30 517.00 100.00 3,267.09 Audrey Tan 35,500.00 581.30 488.13 100.00 2,749.31 1. How much is the total Salaries Expense? 2. How much is the total payroll deductions? 3. How much is the total credit to Cash upon payment of salaries? Is this the same as the take-home pay? Pag-IBIG
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Gross Pay through August 31 $ 6,600 2,200 131,600 Gross Pay for September $ 500 2,300 8,200 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 $80 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to be Withheld From Gross Pay General Journal The employee's federal income taxes withheld by the employer are $80 for this pay period. Assuming situation (a), compute the taxes to be withheld from gross pay for this employee. Note: Round your answers to 2 decimal places. Taxes to be withheld From Gross Pay (Employee-Paid Taxes) Federal income tax September Earnings Subject to Tax Tax Rate Tax Amount $ 80.00 Taxes to be General Journal >
Do not give image format Record the transactions for July 10 and 31.
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Item 7 Lila Harrison is the sole employee of ABC Grocers. Her gross pay for the week was $400. She had deductions of $50 for federal income tax, $24.80 for social security tax, and $5.80 for Medicare tax. The journal entry to record her gross pay would include: Multiple Choice a debit to Salaries Expense for $319.40 a debit to Salaries Expense for $400.00 a debit to Salaries Payable for $319.40 a credit to Salaries Payable for $400.00
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Summary Payroll Data In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings: 1. At regular rate 2. At overtime rate 3. Total earnings Deductions: 4. Social security tax 5. Medicare tax 6. Income tax withheld 7. Medical insurance 8. Union dues 9. Total deductions 10. Net amount paid Accounts debited: 11. Factory Wages 12. Sales Salaries 13. Office Salaries $80,000 ? (32,400) (8,100) (135,000) (18,900) (201,150) $338,850 285,000 ? 120,000 a. Calculate the amounts omitted in lines (1), (3), (8), and (12). Assume that the social security tax rate was 6.0% and the Medicare tax rate was 1.5%. (1) (3)