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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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.
5) How much will be the total amount of remittance to BIR?
Only Exercise 10-11 ,thank you!
A5
JOURNAL Page 42 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Oct. 23 Administrative Salaries 51 2,307.69 Office Salaries 52 4,723.08 Sales Salaries 53 3,600.00 Plant Wages 54 5,219.60 FICA Taxes Payable - OASDI 20.1 982.72 FICA Taxes Payable - HI 20.2 229.84 Employees FIT Payable 24 871.00 Employees SIT Payable 25 486.63 Employees SUTA Payable 25.1 9.50 Employees CIT Payable 26 613.60 Group Insurance Premiums Collected 27 182.10 Union Dues Payable 28 16.00 Payroll Cash 12 12,458.98 23 Payroll Taxes 56 1,395.19 FICA Taxes Payable - OASDI 20.1 982.72 FICA Taxes Payable - HI 20.2 229.83 FUTA Taxes Payable 21 3.72 SUTA Taxes Payable - Employer 22 178.92 Nov. 4 Employees SIT Payable 25 486.63 Cash 11 486.63 6 Union Dues…
Completing a payroll register 1 € (30 min) Check Figure Net Pay $2,529.97 P10-2A. Nickels Company of Windsor has five salaried employees. Your task is to record the following information for the last week of March in a payroll register. Use the tables in the chapter appendices to determine deductions. Claim Code 3 1 1 Department Sales Sales Weekly Salary $950 620 980 650 Employee Jenny Quan Frank Sloan Alberta Nobel Office Jeremy Gold Office 4 Assume that each employee contributes $12 per week for union dues.
General Accounting
I need this question answer financial accounting
Journalize period payroll The payroll register of Heritage Co. indicates 3,900 of social security withheld and 975 of Medicare tax withheld on total salaries of 65,000 for the period. Federal withholding for the period totaled 14,250. Retirement savings withheld from employee paychecks were 2,600 for the period. Journalize the entry to record the periods payroll.
Recording payroll and payroll taxes The following information about the payroll for the week ended October 4 was obtained from the records of Simkins Mining Co.: Instructions For the October 4 payroll, determine the employee FICA tax payable.

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