Selected information from the payroll register of Barbara's Stables for the week ended September 28, 20--, is as follows: Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% of gross earnings, FUTA tax is 0.8%, and SUTA tax is 5.4% each on the first $7,000 of earnings. Cumulative Pay Current Taxable Earnings Employee Name Before Current Earnings Gross Pay Unemployment Compensation Social Security Carlosi, Peggy $ 84,240 $2,350 Sanchez, Carmela 81,900 2,100 Delaney, Roger 109,800 3,320 Weitz, Alana 6,300 1,100 Dunhill, Craig 6,800 1,000 Bella, Stephen 42,330 1,850 Required: 1. Calculate the amount of taxable earnings for unemployment and Social Security taxes. Cumulative Pay Taxable Earnings Employee Name Before Current Earnings Current Gross Pay Unemployment Compensation Social Security Carlosi, Peggy $84,240 $2,350 $fill in the blank f3389605e06bfd4_1 $fill in the blank f3389605e06bfd4_2 Sanchez, Carmela 81,900 2,100 fill in the blank f3389605e06bfd4_3 fill in the blank f3389605e06bfd4_4 Delaney, Roger 109,800 3,320 fill in the blank f3389605e06bfd4_5 fill in the blank f3389605e06bfd4_6 Weitz, Alana 6,300 1,100 fill in the blank f3389605e06bfd4_7 fill in the blank f3389605e06bfd4_8 Dunhill, Craig 6,800 1,000 fill in the blank f3389605e06bfd4_9 fill in the blank f3389605e06bfd4_10 Bella, Stephen 42,330 1,850 fill in the blank f3389605e06bfd4_11 fill in the blank f3389605e06bfd4_12 $fill in the blank f3389605e06bfd4_13 $fill in the blank f3389605e06bfd4_14 $fill in the blank f3389605e06bfd4_15 $fill in the blank f3389605e06bfd4_16 2. Prepare the journal entry to record the employer's payroll taxes as of September 28, 20--. If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Page: 1 DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 Sep. 28 fill in the blank c70ff9f6bfcd035_2 fill in the blank c70ff9f6bfcd035_3 1 2 fill in the blank c70ff9f6bfcd035_5 fill in the blank c70ff9f6bfcd035_6 2 3 fill in the blank c70ff9f6bfcd035_8 fill in the blank c70ff9f6bfcd035_9 3 4 fill in the blank c70ff9f6bfcd035_11 fill in the blank c70ff9f6bfcd035_12 4 5 fill in the blank c70ff9f6bfcd035_14 fill in the blank c70ff9f6bfcd035_15 5
Selected information from the payroll register of Barbara's Stables for the week ended September 28, 20--, is as follows: Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% of gross earnings, FUTA tax is 0.8%, and SUTA tax is 5.4% each on the first $7,000 of earnings. Cumulative Pay Current Taxable Earnings Employee Name Before Current Earnings Gross Pay Unemployment Compensation Social Security Carlosi, Peggy $ 84,240 $2,350 Sanchez, Carmela 81,900 2,100 Delaney, Roger 109,800 3,320 Weitz, Alana 6,300 1,100 Dunhill, Craig 6,800 1,000 Bella, Stephen 42,330 1,850 Required: 1. Calculate the amount of taxable earnings for unemployment and Social Security taxes. Cumulative Pay Taxable Earnings Employee Name Before Current Earnings Current Gross Pay Unemployment Compensation Social Security Carlosi, Peggy $84,240 $2,350 $fill in the blank f3389605e06bfd4_1 $fill in the blank f3389605e06bfd4_2 Sanchez, Carmela 81,900 2,100 fill in the blank f3389605e06bfd4_3 fill in the blank f3389605e06bfd4_4 Delaney, Roger 109,800 3,320 fill in the blank f3389605e06bfd4_5 fill in the blank f3389605e06bfd4_6 Weitz, Alana 6,300 1,100 fill in the blank f3389605e06bfd4_7 fill in the blank f3389605e06bfd4_8 Dunhill, Craig 6,800 1,000 fill in the blank f3389605e06bfd4_9 fill in the blank f3389605e06bfd4_10 Bella, Stephen 42,330 1,850 fill in the blank f3389605e06bfd4_11 fill in the blank f3389605e06bfd4_12 $fill in the blank f3389605e06bfd4_13 $fill in the blank f3389605e06bfd4_14 $fill in the blank f3389605e06bfd4_15 $fill in the blank f3389605e06bfd4_16 2. Prepare the journal entry to record the employer's payroll taxes as of September 28, 20--. If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank. Page: 1 DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 Sep. 28 fill in the blank c70ff9f6bfcd035_2 fill in the blank c70ff9f6bfcd035_3 1 2 fill in the blank c70ff9f6bfcd035_5 fill in the blank c70ff9f6bfcd035_6 2 3 fill in the blank c70ff9f6bfcd035_8 fill in the blank c70ff9f6bfcd035_9 3 4 fill in the blank c70ff9f6bfcd035_11 fill in the blank c70ff9f6bfcd035_12 4 5 fill in the blank c70ff9f6bfcd035_14 fill in the blank c70ff9f6bfcd035_15 5
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter8: Employer Taxes, Payments, And Reports
Section: Chapter Questions
Problem 4E
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Question
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Selected information from the payroll register of Barbara's Stables for the week ended September 28, 20--, is as follows: Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% of gross earnings, FUTA tax is 0.8%, and SUTA tax is 5.4% each on the first $7,000 of earnings.
Cumulative Pay Current Taxable Earnings Employee Name Before Current
EarningsGross
PayUnemployment
CompensationSocial
SecurityCarlosi, Peggy $ 84,240 $2,350 Sanchez, Carmela 81,900 2,100 Delaney, Roger 109,800 3,320 Weitz, Alana 6,300 1,100 Dunhill, Craig 6,800 1,000 Bella, Stephen 42,330 1,850
Required:1. Calculate the amount of taxable earnings for unemployment and Social Security taxes.
Cumulative Pay Taxable Earnings Employee Name Before Current
EarningsCurrent
Gross
PayUnemployment
CompensationSocial
SecurityCarlosi, Peggy $84,240 $2,350 $fill in the blank f3389605e06bfd4_1 $fill in the blank f3389605e06bfd4_2 Sanchez, Carmela 81,900 2,100 fill in the blank f3389605e06bfd4_3 fill in the blank f3389605e06bfd4_4 Delaney, Roger 109,800 3,320 fill in the blank f3389605e06bfd4_5 fill in the blank f3389605e06bfd4_6 Weitz, Alana 6,300 1,100 fill in the blank f3389605e06bfd4_7 fill in the blank f3389605e06bfd4_8 Dunhill, Craig 6,800 1,000 fill in the blank f3389605e06bfd4_9 fill in the blank f3389605e06bfd4_10 Bella, Stephen 42,330 1,850 fill in the blank f3389605e06bfd4_11 fill in the blank f3389605e06bfd4_12 $fill in the blank f3389605e06bfd4_13 $fill in the blank f3389605e06bfd4_14 $fill in the blank f3389605e06bfd4_15 $fill in the blank f3389605e06bfd4_16 2. Prepare the
journal entry to record the employer's payroll taxes as of September 28, 20--. If required, round your answers to the nearest cent. If an amount box does not require an entry, leave it blank.DATE DESCRIPTION POST.
REF.DEBIT CREDIT 1 Sep. 28 fill in the blank c70ff9f6bfcd035_2 fill in the blank c70ff9f6bfcd035_3 1 2 fill in the blank c70ff9f6bfcd035_5 fill in the blank c70ff9f6bfcd035_6 2 3 fill in the blank c70ff9f6bfcd035_8 fill in the blank c70ff9f6bfcd035_9 3 4 fill in the blank c70ff9f6bfcd035_11 fill in the blank c70ff9f6bfcd035_12 4 5 fill in the blank c70ff9f6bfcd035_14 fill in the blank c70ff9f6bfcd035_15 5
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