Encore Records has two employees who are paid on the 1st and 15th of each month for the work they performed in the preceding half-month. At February 28, each employee is owed gross pay of $1,000, but each one must have 10% of their pay withheld for income taxes. Each must also make Canada Pension Plan contributions of 5.1% of their gross pay and pay Employment Insurance premiums of 1.62% of their gross pay. Prepare the journal entry to record the related​ employer's liability on February 28, please show the calculations.

Q: Martin Jackson receives an hourly wage rate of $15, with time and a half for all hours worked in…

A: Formula: Net Amount = Gross Amount - All deductions.

Q: An employee receives an hourly wage rate of $15, with time-and-a-half for all hours worked in excess…

A: Payroll accounting is a part of accounting which is made to record transaction made in the favor of…

Q: Dixon Sales has six sales employees that receive weekly paychecks. Each employee earns $18.00 per…

A: Lets understand the basics.Journal entry is required to record for recording each of event and…

Q: An employee receives an hourly rate of $14, with time and a half for all hours worked in excess of…

A: Salaries expense is the addition of regular and overtime earnings and then various deductions are…

Q: An employee receives an hourly rate of $32.00, with time and a half for all hours worked in excess…

A: Payroll taxes are taxes imposed on employers or employees and are usually calculated as a percentage…

Q: An employee receives an hourly rate wage of $24, with time and a half for All hours worked in excess…

A: In this case, we have to deduct all the withheld income tax, Social Security tax & Medicare tax…

Q: Jerome Company has 35 employees who work 8 hours a day and are paid hourly. On January 1, 2018, the…

A: Vacation expenses means where the company provide the full pay on the specified holidays taken by…

Q: During October, Seger Insurance employees earned $100,000 in wages. Social Security applied to…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: An employee receives an hourly wage rate of $23, with time-and-a-half for all hours worked in excess…

A: Definition: The net amount payable to the employee is the amount paid net of taxes. It is calculated…

Q: An employee receives an hourly rate of $30, with time and a half for all hours worked in excess of…

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: Dixon Sales has six employees that receive weekly paychecks. Each employee earns $14.00 per hour and…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Empty fields company pays its salaried employees monthly on the last day of each month The annual…

A: Social security taxes are the tax which is deducted from the employee's salary at the time of…

Q: An employee receives an hourly rate of $25.00, with time and a half for all hours worked in excess…

A: Given the following information: An employee receives an hourly rate of $25.00 with time and a half…

Q: An employee receives an hourly rate of $17, with time and a half for all hours worked in excess of…

A: Gross pay = ($17 x 40 hours+ $17*1.5 x 9 hours) = $909.50

Q: A company has 10 employees, each of whom earns $2,200 per month and has been employed since January…

A: Journal entry is the procedure for initially documenting commercial transactions in the books of…

Q: Encore Records has two employees who are paid on the 1st and 15th of each month for the work they…

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

Q: McFriend Inc. records its liabilities for employees’ vacations at the end of each month. McFriend…

A: INTRODUCTION: Vacation pay is the remuneration that employees receive for accrued vacation days…

Q: An employee receives an hourly wage rate of $20, with time and a half for all hours worked in excess…

A: Given, Hourly wage = $20 per hour Wage if work in excess of 40 hours = 1.50 * $20 = $30 per hour…

Q: An employee receives an hourly wage rate of $18, with time and a half for all hours worked in excess…

A: An employee who works on an hourly basis is paid the wages at the hourly rate determined by the…

Q: Martin Jackson receives an hourly wage rate of $25, with time and a half for all hours worked in…

A: Gross earnings = (40 hours x $25 per hour) + (Hours in excess of 40 hours x $25*1.5 per hour) =(40…

Q: d on a bi-weekly pay schedule. His Gross Earnings for this pay cycle is $2,346.52, CPP contribution…

A: Withholding refers to the portion of an employee's wages that is excluded from the paychecks of…

Q: Hemal Thomas is an employee in British Columbia. The net pay calculation is for the first bi-weekly…

A: C

Q: An employee receives an hourly rate of $25, with time and a half for all hours worked in excess of…

A: Gross earnings = (40 hours x $25 per hour) + (Hours in excess of 40 hours x $25 per hour x 1.5) =(40…

Q: Prepare the journal entry to record the accrual of the payroll on September 30.

A: Part 1 Date Account Title and Explanations Debit Credit Sep. 30 Salaries Expense…

Q: Prepare the journal entry to record the January 31 payroll expense and salaries. The employer…

A:

Q: PART A: Silver Records has 4 employees who are paid on the 1st and 15th of each month for the work…

A: Since you have posted two different questions, we will do the first one for you. To get the other…

Q: A company has one employee. All wages for September are subject to 6.2% FICA Social Security taxes…

A: Answer:-Payroll expenses are the costs a company incurs to compensate employees for services…

Q: A company has 10 employees, each of whom earns $1,800 per month and has been employed since January…

A: Journal entry is the procedure for initially documenting commercial transactions in the books of…

Q: An employee receives an hourly wage rate of $16, with time and a half for all hours worked in excess…

A: Gross pay= Hours worked during week * wage rate + extra hours worked* Higher wage rate…

Q: An employee earns $24 per hour and 1.5 times that rate for all hours in excess of 40 hours per week.…

A: Gross pay refers to the total amount of compensation or earnings received by an employee before any…

Q: Martin Jackson receives an hourly wage rate of $15, with time and a half for all hours worked in…

A: Lets understand the basics. Net amount paid is a gross pay less taxes paid. Gross pay = (Norma hour…

Q: PR.04.31AT completes the payroll register through Gross Pay. PR.04.32AT completes this problem to…

A: As in the question the computation table shows to arrive at total earnings and no specific method…