None 5-$90.00 $1,590.00 $75.17 $29.89 $286.20 $190.80 $1,007.74Week of Jan 31 HoursEarningsHere is a sample Payroll Register for a weekly payroll of an Ontario company,Time left 1:11:55Employee Rate Reg OTRegот Vac Gross CPPPayE Fed ProvTax TaxNetA. Hoss $40.003750$1,500.00CDoer $15.00 20$300.00E.GJulesK$7.50 $132.50 $3.23 $2.49$ $18.00 $318.00 $12.41 $5.98 $31.80 $159.00 $108.81)Fickle $12.50375 85 $468.75 $159.38 $37.69 $665.81 $29.63 $12.52 $119.85 $79.90 $423.91Host $18.00 375 4 $675.00$108.00 $46.98Landing$829.98 $37.75 $15.60 $149.40 $99.60 $527.63$19.25/37.5 05721.88 $ $43.31 $765.19 $34.55 $14.39 $137.73 $91.82 $486.70$ $ $125.78$25.00 50 $125.00Total 175 12553,790.63 $267.38 $243.48 $4301.48 $192.94 $80.87$724.98 $621.12 $2681.57Use the information in this table to answer the following questionHow much will DC. Doer have deposited into their bank account for this pay cycle?O $423.91Ob $318.00$300 00Od $159.00$108.81

From the table, we can see:Gross Pay: $481.00CPP: $22.32EI: $8.60Federal Tax: $51.02Provincial Tax:…

Answered: 5-$90.00 $1,590.00 $75.17 $29.89…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter13: Accounting For Payroll And Payroll Taxes

Section13.1: Recording A Payroll

Problem 1OYO

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JOURNAL Page 43 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Nov. 6 Payroll Cash 12 12,296.97 Cash 11 12,296.97 6 Administrative Salaries 51 2,307.69 Office Salaries 52 4,677.85 Sales Salaries 53 3,600.00 Plant Wages 54 4,898.00 FICA Taxes Payable - OASDI 20.1 959.99 FICA Taxes Payable - HI 20.2 224.53 Employees FIT Payable 24 902.00 Employees SIT Payable 25 475.37 Employees SUTA Payable 25.1 9.27 Employees CIT Payable 26 599.41 Union Dues Payable 28 16.00 Payroll Cash 12 12,296.97 6 Payroll Taxes 56 1,362.30 FICA Taxes Payable - OASDI 20.1 959.98 FICA Taxes Payable - HI 20.2 224.51 SUTA Taxes Payable - Employer 22 177.81 13 Payroll Cash 12 1,570.27 Cash 11 1,570.27 1. What is the total gross…
Can you please check if this is correct
Example 6-5 The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be: Debit Credit Wages Expense 24,762.70 FICA Taxes Payable—OASDI 1,535.29 FICA Taxes Payable—HI 359.06 FIT Payable 3,714.00 SIT Payable 55.25 Group Insurance Payments W/H 54.70 Cash 19,044.40 Example 6-7 The journal entry to record the payroll tax entry from Figure 6.1 on pages 6-2 and 6-3 would be (assume a SUTA tax rate of 3.0%): Debit Credit Payroll Taxes 2,785.81 FICA Taxes Payable—OASDI 1,535.29 FICA Taxes Payable—HI 359.06 FUTA Taxes Payable 148.58 SUTA Taxes Payable 742.88 Kip Bowman is owner and sole employee of KB Corporation. He pays himself a salary of $1,500 each week. Additional tax information includes: FICA tax—OASDI 6.2% on first $132,900 FICA tax—HI 1.45% on total pay Federal income tax $232.00 per pay State income tax 22% of the federal income tax withholding Federal unemployment…
Example 6-5 The journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be: Debit Credit Wages Expense 24,762.70 FICA Taxes Payable—OASDI 1,535.29 FICA Taxes Payable—HI 359.06 FIT Payable 3,714.00 SIT Payable 55.25 Group Insurance Payments W/H 54.70 Cash 19,044.40 Example 6-7 The journal entry to record the payroll tax entry from Figure 6.1 on pages 6-2 and 6-3 would be (assume a SUTA tax rate of 3.0%): Debit Credit Payroll Taxes 2,785.81 FICA Taxes Payable—OASDI 1,535.29 FICA Taxes Payable—HI 359.06 FUTA Taxes Payable 148.58 SUTA Taxes Payable 742.88 Vulcra, Inc., has a semimonthly payroll of $66,920 on September 15, 20--. The total payroll is taxable under FICA Taxes-HI; $63,290 is taxable under FICA Taxes-OASDI; and $10,400 is taxable under FUTA and SUTA. The state contribution rate for the company is 4.1%. The amount withheld for federal income taxes is $9,838. The amount withheld for state…
156 Principles of Cost Accounting Journal entries for payroll A partial summary of the payroll data for Burrington Manufactur- ing Company for each week of June is as follows: ЕЗ-5 LO2 LO3 June 7 June 14 June 21 June 28 Gross earnings . $ 36,500 $ 34,200 $ 37,300 $ 38,400 Deductions: FICA tax, 8% $? $? $? $? Tax-sheltered annuity. 1,825 1,780 1,855 1,870 Income tax 4,215 4,120 4,320 4,410 Health insurance 600 600 600 600 Total deductions $? $? $? $? Net earnings $? $? $? $? a. Compute the missing amounts in the summary, assuming that no employees have reached the $100,000 FICA maximum. b. For each payroll period, prepare journal entries to (1) record the payroll and (2) record the payments to employees.
Payment and distribution of payroll similar to Self-Study Problem 1 P3-6 The general ledger of Smokey Mountain Mfg., Inc., showed the following credit balances on January 15: FICA Tax Payable 3,100.00 ... Employees Income Tax Payable 1,937.50 FUTA Tax Payable 193.75 State Unemployment Tax Payable 775.00 Direct labor earnings amounted to $10,500 from January 16 to 31. Indirect labor was $5,700, and sales and administrative salaries for the same period amounted to $3,800. All wages are subject to FICA, FUTA, state unemployment taxes, and 10% income tax withholding. Required: 1. Prepare the journal entries for the following: a. Recording the payroll. b. Paying the payroll. c. Recording the employer's payroll tax liability. d. Distributing the payroll costs for January 16 to 31. 2. Prepare the journal entry to record the payment of the amounts due for the month for FICA and income tax withholdings. 3. Calculate the amount of total earnings for the period from January 1 to 15.
Cost accounting Pag. 156-E3-5
Assignments: ACTO-100-0H-Accounting Procedures-CRN 55-460 mapter 10-11) Question 12-Exam Two Chapter 10- The payroll register of the Fox Manufacturing Company showed total employee earnings of $30,000 for the week ended April 19, 20X1. Compute each of the employer's payroll taxes for the period. Use a rate of 6.2 percent for the employer's share of the social security tax, 1.45 percent for Medicare tax, 0.6 percent for FUTA tax, and 5.4 percent for SUTA tax. Assume all earnings are taxable Social security tax Medicare tax FUTA SUTA Help
Question Trapper Company has the following data for the weekly payroll ended March 31: Employee Hours Hourly Rate CPP EI Income Tax Health Insurance Total Deductions Net Pay Allen 48 $25 $58.54 $23.50 $ 350.00 $10.00 Broady 40 25 46.17 18.80 240.00 15.00 Camaron 25 13 12.76 6.11 65.00 5.00 Diaz 45 15 15.60 12.83 190.00 15.00 Evana 10 13 3.10 2.44 0.00 5.00 TOTAL Employees are paid 1.5 times the regular hourly rate for all hours worked over 44 hours per week. Trapper Company must make payments to the workers' compensation plan equal to 2% of the gross payroll. In addition, Trapper matches the employees' health insurance contributions and accrues vacation pay at a rate of 4%. Instructions Prepare the payroll register for the weekly payroll. Record the payroll and Trapper Company's employee benefits. Pay and remit the salary and post it in journals. please answer like we are writing it on notebook
5) How much will be the total amount of remittance to BIR?
Only Exercise 10-11 ,thank you!
Exhibit 6-1 The totals from the first payroll of the year are shown below. Total Earnings $36,195.10 FICA OASDI $2,244.10 FICA HI $524.83 Refer to Exhibit 6-1. Journalize the entry to record the payroll. FIT W/H $6,515.00 State Tax $361.95 Union Dues $500.00 Net Pay $26,049.22

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