In 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semimonthly on the 15th and the last day of the month. Compute the FICA taxes to be withheld from each officer's pay on (a) November 15 and (b) December 31. Round your answers to the nearest cent. If an amount is zero, enter "0". a.     November 15 Name and Title Annual Salary OASDI Taxable Earnings OASDI Tax HI Taxable Earnings HI Tax Hanks, Timothy, President $156,000 $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 Grath, John, VP Finance 138,000 fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 James, Sally, VP Sales 69,600 fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12 Kimmel, Joan, VP Mfg. 54,000 fill in the blank 13 fill in the blank 14 fill in the blank 15 fill in the blank 16 Wie, Pam, VP Personnel 51,600 fill in the blank 17 fill in the blank 18 fill in the blank 19 fill in the blank 20 Grant, Mary, VP Secretary 49,200 fill in the blank 21 fill in the blank 22 fill in the blank 23 fill in the blank 24 b.     December 31 Name and Title Annual Salary OASDI Taxable Earnings OASDI Tax HI Taxable Earnings HI Tax Hanks, Timothy, President $156,000 $fill in the blank 25 $fill in the blank 26 $fill in the blank 27 $fill in the blank 28 Grath, John, VP Finance 138,000 fill in the blank 29 fill in the blank 30 fill in the blank 31 fill in the blank 32 James, Sally, VP Sales 69,600 fill in the blank 33 fill in the blank 34 fill in the blank 35 fill in the blank 36 Kimmel, Joan, VP Mfg. 54,000 fill in the blank 37 fill in the blank 38 fill in the blank 39 fill in the blank 40 Wie, Pam, VP Personnel 51,600 fill in the blank 41 fill in the blank 42 fill in the blank 43 fill in the blank 44 Grant, Mary, VP Secretary 49,200 fill in the blank 45 fill in the blank 46 fill in the blank 47 fill in the blank 48

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: Electronics Service Co. pays salaries monthly on the last day of the month. The following…

A: Calculation of Social security tax: Given @ 6% up to wage limit of $130,000 Since Duke reached the…

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

A: Payroll taxes are the percentage of employee's salary that an employer held to pay it to the…

Q: Ryan's Sparkling Jewels estimated its payroll for the coming year to be $84,000. Its workers'…

A: Given that: Estimated payroll = $84000 Insurance premium = 0.6%

Q: The annual accounting period ends December 31. On December 31, calculated the payroll, which…

A: Journal entries are recorded in a chronological manner and it forms first step in recording every…

Q: The monthly salaries for December and the year-to-date earnings of the employees of Lincoln Project…

A: The objective of the question is to calculate the amount of Medicare tax to be withheld from each…

Q: Parry Paint LLC started operations on January 1, 2019. It had the following payroll transactions…

A: Income tax payable=Gross pay×rate=$2,000×15%=$300

Q: The employees of Lillian's Interiors are paid on a semimonthly basis. Required: Compute the FICA…

A: In the given case YTD Pay till 12/15/2021 is required which is 23 semi-monthly payments i.e (…

Q: In 20-- the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid…

A: Introduction: Individual FICA contributions pay present benefits and develop future ones that will…

Q: n 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid…

A: FICA Social Security Tax Withheld A payroll tax is required to be deducted from employees' paychecks…

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: answer must be in proper format or i will give down vote

A: Detailed explanation:a,  Journal entry for payroll of the weekMay 18 Record increase in expense by…

Q: In 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid…

A: Social Security(OASDI) program limits the wage amounts of earnings subject to taxation for a given…

Q: The monthly salaries for December and the year-to-date earnings of the employees of Bush Consulting…

A: Step 1: Determine the taxable earnings for December.EmployeeAnnual Taxable LimitTotal Earnings for…

Q: Wage and Tax Statement Data on Employer FICA Tax Ehrlich Co. began business on January 2, 20Y8.…

A: Part 2: Explanation:Step 1: Calculate Gross Earnings- For Arnett: $3,800 * 12 = $45,600- For Cruz:…

Q: Cruz Company has gathered the information needed to complete its Form 941 for the quarter ended…

A: Form 941 for the quarter ended September 30, 20--.

Q: Summertime Company has 10 employees and processes payroll bi-weekly. A summary of their payroll…

A: Here discuss about the details of Payroll and withhold taxes in the form of CPP, Employees insurance…

Q: YTD Pay for November 15 199,581 Social Security Tax for November 30 Pay Date Medicare Tax for…

A: FICA taxes:FICA = Federal insurance contribution actFICA is a payroll tax on the wage earner's…

Q: December 31, Reuter Company has a balance of $98.75 in the FUTA taxes payable account.  This…

A: Journal entry is the process of documenting commercial transactions for the first time in the books…

Q: Required information [The following information applies to the questions displayed below.] BMX…

A: The question is to solve for situation a only. Payroll taxes expense = FICA - Social Security taxes…

Q: In 20-- the annual salaries paid each of the officers of Perez, Inc., follow. The officers are paid…

A: OASDI taxable is defined as the wages which are the earnings that are subject to the tax, also…

Q: 2. Record employer payroll taxes.

A: Payroll Tax :— It is the tax that is levied on payroll of the employers.

Q: Am.1111.

A: YTD Pay for December 15 Pay Date a. W. Babish YTD Pay for December 15 Pay Date = Semimonthly Pay X…

Q: 1. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize…

A: 1. a. Reference: b. Reference:

Q: Journalize transaction: July 31 - Paid employees withholding appropriate taxes, and recording…

A: Step 1 Journal is the part of book keeping.

Q: Rand Company’s payroll on December 31 of the current year is as follows: Prepare the journal entries…

A: Payroll is the salary that a company is required to pay to its workers for a set period of time or…

Q: Calculation and Journal Entry for Employer Payroll Taxes Portions of the payroll register for La…

A: Taxation: Taxation refers to the imposition of compulsory financial obligations by the government on…

Q: In 20-- the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid…

A: Introduction: If you earn a wage or a salary, you are most certainly subject to Federal Insurance…

Q: The invoice date for a bill is July 22 with the terms 4/10 EOM. The discount date and due date are:…

A: EOM dating: The discount date is calculated from the end of the month instead of the date of the…

Q: The names of the employees of Hogan Thrift Shop are listed on the following payroll register.…

A: HOGAN THRIFT SHOP PAYROLL REGISTER FOR PERIOD YEAR ENDING Employee name Marital status No.…

Q: Palouse Company completed the salary and wage payroll for the month of March. The payroll provided…

A: Detailed explanation:When making journal entries analyze what accounts are affected and how these…

Q: CALCULATING PAYROLL TAXES EXPENSE AND PREPARING JOURNALENTRY Selected information from the payroll…

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

Q: In 20--, the annual salaries paid to each of the officers of Abrew, Inc., follow. The officers are…

A: OSADI is also known as social security tax. Contribution to be deducted for each paycheck is 6.20%…

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: The totals line from Nb:Company'spayroll register for the week ended March 31,20--, is as follows…

A: Hi student Since there are multiple questions, we will answer only first question that is ques no 2.

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: River Signorini works for New & Old Apparel, which pays employees on a semimonthly basis. River's…

A: Social security tax: Employee's pension and benefit for disability are secured through the social…

Q: In January, the payroll supervisor determines that gross earnings for Concord Company are $84,000.…

A: FICA Taxes payable = Gross earnings ×7.65% = $84,000×7.65% = $6,426

Q: November 15 Name and Title Annual Salary OASDI Taxable Earnings OASDI Tax HI Taxable Earnings HI…

A: Computation of taxes to be withheld from each officer's pay on (a) November 15: In 2020, the OASDI…

Q: During 20--, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of…

A: In the United States, the Social Security(OASDI) and Medicare tax programs limit the amounts of…

Q: Jumping Jumpers Smocking, Inc., is a monthly depositor whose December federal taxes are displayed…

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

Q: Piperel Lake Resort's four employees are paid monthly. Assume an income tax rate of 20%. Required:…

A: A report that lists all of the payments made to employees as part of a payroll is called a payroll…

Q: OASDI              HI  a. 9th paycheck

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.