[The following information applies to the questions displayed below.]The following summary data for the payroll period ended on April 10, 2018, are available for Brac Construction Ltd.: Gross pay $ ? FICA tax withholdings ? Income tax withholdings 18,212 Medical insurance contributions 1,247 Union dues 530 Total deductions 26,380 Net pay 57,160 Required:a. Calculate the missing amounts and then determine the FICA tax withholding percentage. (Round FICA tax withholding percentage to 2 decimal places.) GROSS PAY ? FICA TAX WithHoldings ? FICA TAX WITHHOLDINGS PERCENTAGE % ? Record the journal entry to show the effects of the payroll accrual. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

[The following information applies to the questions displayed below.]The following summary data for the payroll period ended on April 10, 2018, are available for Brac Construction Ltd.: Gross pay $ ? FICA tax withholdings ? Income tax withholdings 18,212 Medical insurance contributions 1,247 Union dues 530 Total deductions 26,380 Net pay 57,160 Required:a. Calculate the missing amounts and then determine the FICA tax withholding percentage. (Round FICA tax withholding percentage to 2 decimal places.) GROSS PAY ? FICA TAX WithHoldings ? FICA TAX WITHHOLDINGS PERCENTAGE % ? Record the journal entry to show the effects of the payroll accrual. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter13: Accounting For Payroll And Payroll Taxes

Section: Chapter Questions

Problem 4AP

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Question

[The following information applies to the questions displayed below.]

The following summary data for the payroll period ended on April 10, 2018, are available for Brac Construction Ltd.:


Gross pay	$	?
FICA tax withholdings		?
Income tax withholdings		18,212
Medical insurance contributions		1,247
Union dues		530
Total deductions		26,380
Net pay		57,160

Required:
a. Calculate the missing amounts and then determine the FICA tax withholding percentage. (Round FICA tax withholding percentage to 2 decimal places.)

GROSS PAY ?

FICA TAX WithHoldings ?

FICA TAX WITHHOLDINGS PERCENTAGE % ?

Record the journal entry to show the effects of the payroll accrual. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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