The payroll records of Brownlee Company provided the following information for the weekly pay period ended March 23, 2021:Required:1. Enter the relevant information in the proper columns of a payroll register and complete the register, calculate CPP and El deductions.Charge the wages of Kathy Sousa to Office Wages Expense and the wages of the remaining employees to Service Wages Expense.Calculate Income tax deductions at 20% of gross pay. Employees are paid an overtime premium of 50% for all hours in excess of 40per week. (Round your intermediate calculations and final answers to 2 decimal places.)Payroll Week Ended March 23, 2021EmployeesRay LoranKathy SousaGary SmithNicole PartonDiana Wood12345EmploymentInsurance0.00EmployeeNo.View transaction listCPPMTWT11 8120000 O0.00713 814 815 0Daily Time00 00 00 00000008 86IncomeTaxJournal entry worksheet2LL87 88 88 86 60.00FS S44SOO ||0To04 4008 8HospitalInsuranceTotalHours40.0040.0040.0040.0040.00200.0044.0040.0044.001143.0058.00UnionDuesPayroll RegisterRecord the payroll register for the pay period ending March 23.O.T.Hours0.000.004.003.008.0016.0015.0014.0016.0016.0077.00Reg.Pay Rate40.0036.0032.0040.0036.00TotalDeductions0.00HospitalInsurance40.0040.0040.0040.0040.00200.00NetPay0.00UnionDuesEarningsto End ofPrevious RegularWeek Pay43,000 1,760.0016.0015.0046,000 1,600.0014.00 21,000 1,408.0016.0016.0077.0032,000 1,892.0036,000 1,728.008,388.002. Prepare General Journal entries to record the payroll register Information, including the employer's expenses. (Round yourIntermediate calculations and final answers to 2 decimal places.)OfficeServiceWages Expense Wages Expense0.000.00EarningsO.T.PremiumPay0.00Gross Pay1Ne234560.00 6

Employment Insurance(EI) Deduction: The EI deduction rate for employees in Canada in 2021 is 1.58%…

The payroll records of Brownlee Company provided the following Information for the weekly pay period ended March 23, 2021: Required: 1. Enter the relevant information in the proper columns of a payroll register and complete the register, calculate CPP and El deductions. Charge the wages of Kathy Sousa to Office Wages Expense and the wages of the remaining employees to Service Wages Expense. Calculate Income tax deductions at 20% of gross pay. Employees are paid an overtime premium of 50% for all hours in excess of 40 per week. (Round your intermediate calculations and final answers to 2 decimal places.) Payroll Week Ended March 23, 2021

The payroll records of Brownlee Company provided the following Information for the weekly pay period ended March 23, 2021: Required: 1. Enter the relevant information in the proper columns of a payroll register and complete the register, calculate CPP and El deductions. Charge the wages of Kathy Sousa to Office Wages Expense and the wages of the remaining employees to Service Wages Expense. Calculate Income tax deductions at 20% of gross pay. Employees are paid an overtime premium of 50% for all hours in excess of 40 per week. (Round your intermediate calculations and final answers to 2 decimal places.) Payroll Week Ended March 23, 2021

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Accounting Assume that the payroll record of Riverbed Oil Company provided the following information for the weekly payroll ended November 30,2020. Employee Hours Worked Hourly Pay Rate Federal Income Tax Union Dues Year- to-Date Earnings Through Previous Week T. king 44 58 442 9 133,900 T. Binion 46 23 97 5 23,200 N.Cole 40 28 148 5,700 C. Hennesey 42 33 230 7 49,500 Additional information: All employees are paid overtime at time and a half for hours worked in excess of 40 per week. The FICA tax rate is 7.65% for the first 132,900 of each employee's annual ear earnings and 1.45% on any earnings over 132,900. The employer pays unemployment taxes of 6.0% (5.4% for state and .6% for federal) on the first 7,000 of each employee's annual earnings. Prepare the payroll register for the pay period.(Round answers to 2 decimal places, e.g. 15.25)
On December 31, 2020, $300 of salaries has been accrued. Total amount before accrued $27500. The next payroll to be paid on Feb 3, 2021, for the $6500. Do the following. A. Journalize and post the entry using T accounts. B. Journalize and post the reversing entry on Jan 1, 2021 C. Journalize and post the payment of the payroll. Cash has a balance of $13500 before the payment of payroll on Feb 3, 2021.
Subject: acc
Prepare the journal entry to record the payment of the payroll for the week
Greensburg Inc. had the following payroll for October 2020: Employee Wages $90,000 Federal income tax withheld 23,000 FICA 5,000 Health premiums deducted 3,000 Salaries (included above) subject federal unemployment taxes 90,000 Salaries (included above) subject to state unemployment taxes 90,000 REQUIRED: Present journal entries on October 31, 2020 to record: Accrual of the monthly payroll. Accrual of the employer's payroll tax. (Assume that the employer matches health premiums and the federal unemployment tax is 0.8%, and the state unemployment tax is 5.4%.)
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The monthly and hourly wage schedule for the employees of Quirk, Inc., follows. No employees are due overtime pay.Compute the following for the last monthly pay of the year:a. The total wages of each part-time employee for December 2019.b. The OASDI and HI taxable wages for each employee.c. The FICA taxes withheld from each employee’s wages for December.d. Totals of columns.e. The employer’s FICA taxes for the month.
Marin Company's gross pay for the week ended August 22 totalled $71,200, from which $3,880 was deducted for CPP, $1,125 for El, and $19,900 for income tax. Prepare the entry to record the employer payroll costs, assuming these will not be paid until September. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Round answers to O decimal places, e.g. 1,575.) Date Account Titles Aug. 22 Debit Credit
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Prepare a payroll check using the information from the payroll register for Bill Brown for the pay period ending on August 31. Fill out the check stub using information from the payroll register. Prepare the check. Sign your name. Use name Yaira Hundley. Completed payroll register is attached.
The payroll register of Seaside Architecture Company indicates $990 of Social Security and $258 of Medicare tax withheld on total salaries of $15,500 for the period. Federal withholding for the period totaled $3,245. Prepare the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.