The amount of time over which an employee is paid is known as ___________. payroll pay period payroll register payroll clerk
Q: The payroll register includes sections for recording:
A:
Q: An employee has a net payroll amount of $5,064.50. What is the correct journal entry to record this…
A: Expense booking entry will be Wages expense Ac Dr 5064.5 to Net payroll payable 5064.5 being expense…
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A: | Employee | Federal Withholding Tax | Social Security Tax | Medicare Tax | Total Taxes Withheld |…
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A: The objective of the question is to identify the common procedure used to test the reasonableness of…
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A: Payroll Rules: According to the FLSA, people who are subject to its provisions must maintain…
Q: The following information as to earnings and deductions for the weekly pay period ended March 9 was…
A: Payroll Expenses: The amount paid to the human resources of any business organization is termed…
Q: Continuing Payroll Problem, 4B: Chapter 4 This problem continues the process of preparing the…
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Q: how is "gross earnings" of $1021.01 derived?
A: Piece rate earnings means wages on the basis of pieces produced.
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A: For Payroll Accounting : There are 2 types of calculating. (1) Quarter-hour Method : (a) In this…
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Q: A business form that shows all the earnings and withholdings for an individual employee is called…
A: A payroll register is a tool that records wage payment information about each employee, including…
Q: t hired your first employee. What are the first two steps in Quickbooks to set up your own payroll?…
A: Quick book is accounting software used to do payment to the employees and maintain account of the…
Q: My first question was incomplete. The payroll register was not completely filled. Journalize the…
A: Payroll entries are recorded to reflect the payment made to employees and the salary deducted from…
Q: reimbursement plan
A: Those Expenses will be reimbursed by Business to their Employees which are related to business. In…
Q: Solstice Company determines on October 1 that it cannot collect $54,000 of its accounts receivable…
A: The journal entries are prepared to keep the record of day to day transactions of the business on…
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A: QuickBooks offers a user-friendly interface and provides tools for managing income and expenses,…
Q: What is included in the journal entry to record the employer amount of the payroll? Assume gross…
A: Solution- Payroll journal entries are used to record the compensation paid to employees. These…
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A: Each business organization categorized their operations into different departments for example…
Q: Question: List and briefly explain any Two Payroll System Controls. briefly explain.
A: Internal Control - Internal controls are the systems, guidelines, and practices that a business uses…
Q: The following information about the payroll for the week ended December 30 was obtained from the…
A: Payroll: The total payment that a company is required to pay to its employee for the services…
Q: prepare the journal entry to record the employers payroll expenses for the week ended july 15 of the…
A: Workings: The nature of account is expense. so all expenses to be debited.
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A: Risks: Risks are implicit events or situations that could have negative impacts on an…
Q: Employers are required to keep records of all of the following except: Select one: Personal data…
A: Employer should maintain all the data related to there business activities which helps during the…
Q: The following salaried employees of Mountain Stone Brewery in Fort Collins, Colorado, are paid…
A: The percentage method has no wage or allowance limit. therefore firm can use it if the employee's…
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A: Payroll register: Payroll register can be defined as the hard copy or a register that records all…
Q: Determine the employer's deposit
A: Note 1] In general, you must deposit federal income tax and additional Medicare tax withheld as…
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Q: ayroll Register and Payroll Journal Entry 1. Prepare a payroll register for Mary’s Luxury Travel…
A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…
Q: Why must pay rate information be a part of an employee’s payroll file? A. As a means of tracking…
A: Pay rate refers to the amount of money an employee is paid for performing a specific job or task…
Q: search the term "payroll accounting" to read personal perspectives about payroll practice,…
A: Answer:- Payroll accounting:- Payroll accounting can be defined as the calculation, recording,…
Q: i am missing a transaction for number 4 "Record the employers payroll expenses"
A: A journal entry is a record of a business transaction in your business books.
Q: Which of the following is true about employee pay methods? (You may select more than one answer.…
A: Employee’s pay disbursements includes the compensation which he will receive in consideration for…
Q: This problem continues the process of preparing the Kipley Company's Employee Payroll Register for…
A: Employee payroll register is a book in which all the records of all the employees for the particular…
Q: Journalize the payroll on March 15, and the accrual of employee payroll taxes
A: Payroll taxes are levied on salaries and wages. These are the taxes which are paid by both the…
Q: [The following information applies to the questions displayed below.] BMX Company has one employee.…
A: Answer:-Payroll expenses are the costs a company incurs to compensate employees for services…
Q: Payroll Schedule Pay Date Payroll Start Date Payroll End Date Total 3/5/2021 3/19/2021 4/2/2021…
A: The payroll taxes refer to the taxes related to the wages and salaries of the employees. The…
Q: Completing the Payroll Register The Employee Payroll Register presents all the computations…
A: The payroll process is related to calculating the gross pay, all the applicable taxes, allowed…
Q: 1 If you are a company's full-time employee, what tax do you pay for earning your salary? Answer…
A: The question has asked to give the answer that what taxes are payable on earning a salary.…
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- Which of the following accounts represents the "take-home pay" or "net pay" related to employees? EMPLOYEE BENEFITS PAYABLE OPAYROLL TAX EXPENSE SALARY EXPENSE SALARY PAYABLE TO EMPLOYEESWhen an employer does not have a sophisticated time-keeping system, it is valid to accrue a percentage of wages at end-of-period based on:a. it is never valid to estimate an end-of-period adjustment.b. a percentage based on the previous period's payroll (for example. 4 out of 5 days = 80% x prior payroll).c. a percentage that external auditors provide the payroll clerk.d. a percentage suggested by the IRS.2. Prepare a general journal entry to record the payroll. The firm's general ledger contains a Wages Expense account and a Wages Payable account. Then assuming that the firm has transferred funds from its regular bank account to its special payroll bank account and that this entry has been made, prepare a general journal entry to record the payment of wages. If required, round your intermediate calculations and the final answers to the nearest cent and use the rounded answers in subsequent computations. If an amount box does not require an entry, leave it blank. GENERAL JOURNAL PAGE DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Oct. 14 fill in the blank 177445fc1f8a014_2 fill in the blank 177445fc1f8a014_3 fill in the blank 177445fc1f8a014_5 fill in the blank 177445fc1f8a014_6 fill in the blank 177445fc1f8a014_8 fill in the blank 177445fc1f8a014_9 fill in the blank 177445fc1f8a014_11 fill in the blank…
- Subject - account Please help me. Thankyou.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.This problem continues the computing and recording employee payroll for the Olney Company for the pay period ending January 8th, 20--. Tasks previously performed include determining gross earnings, FICA withholding, federal, state and city taxes. These computations are shown in the Employee Payroll Register. Requirements: Compute and record the employee's SUTA contributions. Compute and record the Olney Company's SUTA and FUTA contributions. Payroll Register The State Unemployment Tax Act, better known as SUTA, is a form of payroll tax that all states require employers to pay for their employees. SUTA is a counterpart to FUTA, the federal unemployment insurance program. Your tasks now are to compute FUTA and SUTA. Complete the following step: Compute and record the employee's SUTA contributions (employees pay 0.06% on total gross pay). Note: Round your final answers to nearest cent. ONLEY COMPANY, INC.Employee Payroll Register For Period Ending January 8, 20-- EARNINGS…
- The payroll business process has four major phases. Which phase does not have a journal entry? a. Policy phase b. Hire phase c. Pay Phase d. Both a) and b)Payroll Schedule Pay Date Payroll Start Date Payroll End Date 2/27/2021 3/13/2021 3/27/2021 4/10/2021 3/5/2021 3/19/2021 Total 4/2/2021 4/16/2021 4/30/2021 5/14/2021 5/28/2021 6/11/2021 6/25/2021 Payroll Register - 04/02/2021 Employee Hire Date Employee A Employee B Employee C Payroll Register - 04/16/2021 Employee Hire Date Employee A Employee B Employee C Employee D 2/14/2021 2/28/2021 3/14/2021 3/28/2021 4/11/2021 4/25/2021 5/9/2021 5/23/2021 6/6/2021 01/01/2020 05/15/2020 07/10/2020 01/01/2020 05/15/2020 07/10/2020 04/01/2021 Gross Pay Gross Pay 4/24/2021 5/8/2021 5/22/2021 6/5/2021 6/19/2021 6,923.08 5,000.00 4,615.38 16,538.46 6,923.08 5,000.00 4,615.38 4,615.38 Employer Taxes 553.85 400.00 369.23 1,323.08 Employee Tax Withholding Net Pay 1,523.08 1,100.00 1,015.38 553.85 400.00 369.23 369.23 3,638.46 Employer Taxes Employee Tax Withholding Net Pay 1,523.08 1,100.00 1,015.38 1,015.38 5,400.00 3,900.00 3,600.00 12,900.00 5,400.00 3,900.00 3,600.00 3,600.00 Q1- Please determine the…Calculation and Journal Entry for Employer Payroll Taxes 1. Calculate the employer's payroll taxes expense. Round your answer to the nearest cent. 2. Prepare the journal entry to record the employer's payroll taxes expense for the week ended July 15 of the current year. Round your answers to the nearest cent, if required. If an amount box does not require an entry, leave it blank. Portions of the payroll register for Barney’s Bagels for the week ended July 15 are shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both of which are levied on the first $7,000 of earnings. The Social Security tax rate is 6.2% on the first $118,500 of earnings. The Medicare rate is 1.45% on gross earnings. Barney’s BagelsPayroll Register Total Taxable Earnings of All Employees Total Earnings Unemployment Compensation Social Security $12,200 $10,500 $12,200
- Question: " The pay clerk prepares 20 correctly Labelled, sealed pay envelopes and placed them next to the time book every Friday morning. When the employees come in the morning to sign the time book they pick their pay envelopes" required: please answer this question by: a) List a change that you would recommend to improve the payroll system.BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. a. b. C. Gross Pay through August 31 $ 6,400 2,000 131,400 Assuming situation (a), prepare the employer's September 30 journal entry to record salary expense and its related payroll liabilities for this employee. The employee's federal income taxes withheld by the employer are $80 for this pay period. Taxes to be Withheld From Gross Pay Gross Pay for September $ 800 Complete this question by entering your answers in the tabs below. 2,100 8,000 General Journal Federal income tax The employee's federal income taxes withheld by the employer are $80 for this pay period. Assuming situation (a), compute the taxes to be withheld from gross pay for this employee. Note: Round your answers to 2 decimal places. Taxes to be Withheld From Gross…1.Why do the employee deductions display as negative amounts on the Payroll Entry window 2.What are the gross pay amounts for Brandee M. Nunnley and for Drake V. Carter? Include Mr. Carter's overtime pay. 3.What is the net pay for Brandee M. Nunnley and for Drake V. Čarter? Include Mr. Carter's overtime pay. 4.What happens when payroll entries are posted? what informarion ia missing
