Required: Journal entries to record payroll on January 31st

Q: Stark Company has five employees. Employees paid by the hour earn $10 per hour for the regular…

A: Payroll refers to the payment to be made by the employer to the employees for the services rendered…

Q: Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $132,900 paid to…

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

Q: $7,800 is placed for 4 bimonthly periods in a financial agency that offers 6% per semester. How much…

A: Here, Amount invested is $7,800 Time Period is 4 bimonthly periods Interest Rate is 6% Compounding…

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

A: After deductions from gross pay, net pay is the amount of remuneration that remains distributable to…

Q: urther he has joined Y Ltd. as part time job with effect from January 2021, with permission of X…

A: Salaried income can be defined as the income being earned by the employees for providing their…

Q: Dixon sales has five sales employees that receive weekly paychecks. Each earns $12 per hour and each…

A: Journalize the recognition of the pay period ending January 19th which will be paid to the employees…

Q: Monthly payroll register Hanna Institute for January shows the following information: The salary…

A: Payroll accounting is the recording of all the financial transactions related to the cost of the…

Q: An employee has $64 withheld from each monthly paycheck that is deposited in an account. The account…

A: Total accumulation is computed as = Monthlyl deposit*FVA of 1 at i for n periods

Q: Dainty Ltd has an average weekly payroll of $200 000. The employees are entitled to 2 weeks',…

A: Journal: Journal is considered as a book of original entry because all the transactions that have…

Q: if Jayne company gets a discount loan at a 12 percent interest rate.  They borrow $100,000 for one…

A: Since you have asked multiple questions, we will solve only one( i will be solving the 2nd question…

Q: Calculate the expected annual sick-leave expense for Dainty Ltd (on the basis of average salaries).…

A: a) 56% of employees will take 2 weeks of sick Leave = $200,000 x 2 x 22% = $200,000 x 2 x 0.22 =…

Q: Dainty Ltd has an average weekly payroll of $200 000. The employees are entitled to 2 weeks',…

A: Payroll Accounting: The process of payroll accounting includes the computation and payment of…

Q: Dainty Ltd has an average weekly payroll of $200 000. The employees are entitled to 2 weeks', non-…

A: When a company records the compensation of its employees, such type of accounting is known as…

Q: Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to…

A: Employee's Payroll: It is the amount for which an employee contributes or works for a company.…

Q: The Shoe Shop Company manufactures two types of shoes; dress and casual shoes. For the month of May,…

A: where Total labor hours required for production = Budgeted units * Labor hours required per unit

Q: Dainty Ltd has an average weekly payroll of $200 000. The employees are entitled to 2 weeks', non-…

A: Average weekly payroll amount = $200,000 Percentage of employees that take 2 weeks sick leave = 56%…

Q: what amount should be reported as vacation pay expense in 2018? 3,097,600 3,232,000

A: Vacation pay means the paid leaves provided by the company to its employees. In the vacation pay,…