Portions of the salaries expense account of a business follow:Account Salaries ExpenseAccount No. 62BalancePost.Ref.DateItemDr.Cr.Dr.Cr.2018Dec.27(1)2922,0001,200,0001,213,200(2)13,20031301,213,200(3)31312019Jan. 1(4)3213,20013,200(5)3310,800224,000a. Indicate the nature of the entry (payment, adjusting, closing, reversing) from whicheach numbered posting was made.b. Journalize the complete entry from which each numbered posting was made. Closerevenues and expenses to J. McHenry, Capital.

(a)Indicate the nature of the entry from which each numbered posting was made.

Answered: Portions of the salaries expense…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter14: Decentralized Operations

Section: Chapter Questions

Problem 14.3E

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Question 9: In a journal entry for employee payroll, what type of account is credited to record each of the amounts withheld from employee earnings? Answer: A. O Asset В. O Liability C. O Revenue D. O Expense
Subject - account Please help me. Thankyou.
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Question 1: What should an employer use to complete Form W-3? Answer: А. Employee earnings records В. O Payroll registers C. Form 1096 D. O Form W-2s Question 2: How is self-employment income calculated? Answer: А. O Self-employment income = Revenue В. Self-employment income = Revenue + Expenses С. Self-employment income = Revenue - Expenses D. Self-employment income = Expenses Question 3: A flexible spending account is a common type of Answer: А. cafeteria plan В. medical plan С. retirement plan D. mandatory deduction
Factory Payroll: (To record salaries and wages paid and the employee payroll deductions) (To record employer payroll taxes) Sales Payroll: (To record salaries and wages paid and the employee payroll deductions) || |
To determine how much to deduct from the gross pay of Jason Parker, an employee of Jensen Ltd., one would look at the earnings record. O Form TD1. O payroll register. O Form T4.
When an organization makes payment to the government for payroll taxes, the payment is journalized as O A. Accounts Payable O B. Accounts Receivable C. Cash O D. Expenses
B. D Based on the information below, 1) complete the April 15th payroll register for Mansouri Medical Center and 2) prepare the jounal entries needed to record payroll and the also the employer's liability. (Two journal entries) Assume a state unemployment tax rate of 3.2% and a federal unemployment tax rate of 0.8% and a $7,000 maximum taxable earnings. Use of formulas is required, along with appropriate number formatting, correct spelling and neatness. Yes, neatness counts! Idid the heavy lifting for you here- you need to do the rest. Gross Pay - Federal Union Dues Name Earnings to Date Standard Gross Pay - Overtime Total Gross Pay Withholding Deduction 無一排 70.00 S 50.00 $ 18.10 $ 9.20 $ 9.00 200.00 S 250.00 $ 300.00 $ 350.00 $ 270.00 S J. Erin M. Riddle W. Monde M. Murray 2$ 3,800.00 $ 300.00 S 11.00 6,950.00 $ 7,200.00 $ 8,000.00 $ 14.00 300.00 $ 350.00 $ 15.70 $ 28.40 $ 4 27 28 29 30 B1 32 33 34 35 36 37 38 39 40 41 42 43 Payroll - Chapter 8 Ready
On January 1, 2020, Beckham acquired a 2,000,000, 5 year bond, 10% bond for 2,169,329. Transaction cost is 4,500. The ongoing interest rate on the date of the acquisition of the bonds was 7.8859%. The fair value of the bond at the end of each year are listed below: Dec 31, 2020 Dec 31, 2021 Dec 31, 2022 101 98 105
https://www.republictt.com/pdfs/annual-reports/RFHL-Annual-Report-2022.pdf Use the link above to c) Critically analyze any significant accounting policies and estimates disclosed in the notes to the financial statements. In your answer, indicate whether the company complied with the accounting standards and conventions.
(a) Describe the detail of the transaction being performed in the following screen. (b) Give the journal entry that MYOB made as a result of the transaction in part (a) (Note: account numbers are not required, just use account names.)
NAME Barney, R. S. Fisk, M. C. Hayes, W. O. Lee, L. B. Parks, S. J Tempy, E. B. EARNINGS EARNINGS EARNINGS UNEMPLOYMENT SECURITY MEDICARE 1,932.00 1,932.00 1,932.00 1,932.00 567.00 567.00 567.00 567.00 483.00 483.00 483.00 483.00 679.00 679.00 679.00 679.00 578.00 578.00 578.00 578.00 546.00 546.00 546.00 546.00 4.785.00 4,785.00 4,785.00 4,785.00 DATE ..... 20-- Jan. 7 Assume that the payroll is subject to an employer's Social Security tax of 6.2 percent on the first $118,500 and a Medicare tax of 1.45 percent on all earnings. Also assume that the federal unemployment tax is 0.6 percent, and that the state unemployment tax is 5.4 percent of the first $7,000. 1,932.00 567.00 483.00 Give the entry in general journal form to record the payroll tax expense. If an amount box does not require an entry, leave it blank. If required, round your intermediate calculations and final answers to the nearest cent and use the rounded answers in subsequent computations. 679.00 578.00 546.00 4,785.00…

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