5 Dec 31 Wages and Salaries Expense 175 4 00 5 Wages and Salaries Payable 175 4 00 6 To record acaued wages and salaries 7 6. PAYROLL REGISTER EARMES TARABLE EARANGS LNEMROYMENT COM PEGATON CLMILATM REGLLAI ONETME TOTAL AL SEKTY 33 50 00 3350 00 3350 00 3350 00 3350 00 1 Totaks WEEK ENDED January4,20-2 ENKTKAS NET FEDERAL MOMETAR SOONL SEOURITY TA MEDKARE TAA HEALH KSIRANCE THEI MAY 242 00 207 70 48 58 50 00 80 00 6 28 28 2721 72 1

Q: An employee has a net payroll amount of $5,064.50. What is the correct journal entry to record this…

A: Expense booking entry will be Wages expense Ac Dr 5064.5 to Net payroll payable 5064.5 being expense…

Q: Paradise Hills Berry Farm has 21 employees who are paid biweekly. The payroll register showed the…

A: The objective of the question is to prepare a journal entry to record the payroll expenses for…

Q: NN Company operates on a 6-day week, with time and one-quarter for all hours over eight during the…

A: It is the amount to be withheld by an employer from an employee, if the employees' annual income…

Q: r will pay its employees the following Monday (January 4) for the previous full week. Assume Cedar…

A: The adjustment entries are prepared to adjust the revenue and expenses for the current period. The…

Q: The following totals for the month of June were taken from the payroll register of Arcon Company:…

A: Salaries expense represents the gross salaries earned by the employees. All the deductions like…

Q: Selected information from the payroll register of Barbara's Stables for the week ended September 28,…

A: Tax liability: It is the total amount of tax owed is a given period, by individuals and…

Q: The following totals for the month of June were taken from the payroll register of Arcon Company:…

A: Salaries means the amount paid to employee for the services rendered.

Q: The following totals for the month of June were taken from the payroll register of Arcon Company:…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: The following totals for the month of June were taken from the payroll register of Arcon Company:…

A: Salary refers to the amount that is paid to the employees/ workers for the services provided by them…

Q: Prepare a journal entry on April 30 to accrue Culver's employer payroll costs. Assume that Culver is…

A: A journal entry is a basic accounting recording method that is used to document financial…

Q: Highridge Homes has the following payroll information for the week ended February 21: Name Earnings…

A: Payroll It is important for the business entity to prepare the payroll process which are important…

Q: My first question was incomplete. The payroll register was not completely filled. Journalize the…

A: Payroll entries are recorded to reflect the payment made to employees and the salary deducted from…

Q: During the month of January, an employer incurred the following payroll taxes: FICA Social Security…

A: Working notes: Payroll tax expense = FICA social security tax + FICA Medicare tax + FUTA taxes +…

Q: Complete the top portion and earnings section of a payroll register for the five employees below.…

A: Federal withholding tax is the amount of tax that is withheld by the employer from the pay of the…

Q: Sheffield Company's weekly payroll, paid on Fridays, totals $10,790. Employees work a 5-day week.…

A: Journal entries are made to record the transactions as the first process in the books of accounts…

Q: The payroll register of Seaside Architecture Company indicates $820 of social security and $215 of…

A: Payroll tax: It refers to the tax that is levied on the company on the spending of its employees.…

Q: The payroll journal for Northport Enterprises, Inc., is shown.  Social Security and Medicare are…

A: Income tax refers to the amount charged by the government from the individual and organizations on…

Q: An employee has a net payroll amount of $5,064.50. What is the correct journal entry to record this…

A: The journal entries are a crucial step of the accounting process as it records the accounting…

Q: From the following information, calculate the payroll tax expense for Gray Company for the payroll…

A: Since cumulative payroll for the current payroll period is less than $127,700, all payroll for…

Q: Employees at a certain company are paid on Friday, December 28 for the five days ending on December…

A: Salaries & wages payable is that amount which is due to be paid but not paid. It is also called…

Q: From the following information, prepare a general journal entry to record the employee benefits…

A: Payroll refers to the compensation that is paid by the employer to the employees for the services…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: During the fourth quarter of 20--, there were seven biweekly paydays on Friday (October 4, 18;…

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Q: On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned…

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Q: Employees at the Sheffield Waffle House were paid on Friday, December 27 for the five days ending on…

A: Accrual accounting records revenues and expenses when they are earned or incurred, not necessarily…

Q: The payroll register of Seaside Architecture Company indicates $920 of social security and $256 of…

A: Journal Entry It is used to record the business transactions of an enterprises

Q: Exercise Al-2 Calculating payroll deductions and recording the payroll LO2 The following information…

A: EI premium are calculated as a percentage insurable earnings subject to a maximum of insurable…

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A: SUTA stands for "The State Unemployment Tax Act".  SUTA tax will be levied on the total unemployment…

Q: Paradise Hills Berry Farm has 27 employees who are paid biweekly. The payroll register showed the…

A: Journal Entry is the primary step in recording the transactions in the books of accounts.The…

Q: Date Account Debit Credit 30 Assuming that the payroll for the last week af the year is to be paid…

A: December 30 Payroll expense a/c Dr.   352000            To payroll payable. 352000 (Being provision…

Q: Reviewing payroll records indicates that employee salaries that are due to be paid on January 3…

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Q: Journalize the company payroll for the semimonthly period ending on August 31. Journalize the…

A: Payroll entry records the payment made to employees and the portion of salary deducted from the…

Q: Karen Law firm has paid $52,400.00 in salaries for the first quarter. Ms. Karen has computed the…

A: Journal entry : It is prepared to record the financial and non-financial transactions of the…

Q: In the Illustrative Case in this chapter, payroll transactions for Brookins Company were analyzed,…

A: SOLUTION- NOTE- 1-FICA TAX PAYABLE -OASDI RATE IS 6.2% OF WAGES AND SALARIES PAID 2-FICA TAX…

Q: ayroll Register and Payroll Journal Entry 1.  Prepare a payroll register for Mary’s Luxury Travel…

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Q: Assume that a payroll register contains the following columnar totals for the pay period ending…

A: Payroll The procedure where a company reimburses to the employees based on their working hours,…

Q: Vishnu

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A: What is payroll? It is a register that shows the total amount to be paid to the employees during a…

Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.