The payroll register for a payroll period for Ceramic Company has been completed. Assume the following payroll tax rates: 1 /8 S00 FICA-OASDI tax, 6.2 % on the first- of earnings. FICA-Medicare tax, 1.45% on all earnings State unemployment tax, 5.4% on the first $7,000 of earnings. Federal unemployment tax, 0.6% on the first $7,000 of earnings. 1. Journalize the payroll for the October 31, 20XX pay period. 2. Journalize Ceramic Company's expenses for employer payroll taxes for the pay period. 3. Journalize the payment to employees. 4. Journalize the payment of withholdings and employer taxes. 20 BOuc Earnings Withholdings Beginning Salaries and Ending Current Check Wages Health United Period Cumulative Income Cumulative Total Expense Net Pay No. Withholdings Way $ 15.00 Insurance Таx Earnings $ 4,500.00 $ 81,500.00 119,200 OASDI Medicare Earnings $ 77,000.00 Earnings $ 4,500.00 $ 90.00 $ 3,150.75 801 $ 1,349.25 $ 900.00 $ 279.00 65.25 7,200.00 802 5,313.60 35.00 1,886.40 144.00 1,200.00 104.40 403.00* 7,200.00 112,000.00 3,300.00 803 2,381.55 918.45 0.00 66.00 600.00 47.85 204.60 51,300.00 48,000.00 61,000.00 3,300.00 3,300.00 804 2,111.55 1,188.45 20.00 66.00 850.00 47.85 204.60 64,300.00 3,300.00 4,500.00 805 2,965.75 1,534.25 0.00 90.00 1,100.00 65.25 279.00 4,500.00 4,500.00 $ 22,800.00 $320,800.00 $ 22,800.00 0 $6,876.80 $15,923.20 70.00 $ 456.00 $ 330.60 $4,650.00 $1,370.20 $298,000.00
The payroll register for a payroll period for Ceramic Company has been completed. Assume the following payroll tax rates: 1 /8 S00 FICA-OASDI tax, 6.2 % on the first- of earnings. FICA-Medicare tax, 1.45% on all earnings State unemployment tax, 5.4% on the first $7,000 of earnings. Federal unemployment tax, 0.6% on the first $7,000 of earnings. 1. Journalize the payroll for the October 31, 20XX pay period. 2. Journalize Ceramic Company's expenses for employer payroll taxes for the pay period. 3. Journalize the payment to employees. 4. Journalize the payment of withholdings and employer taxes. 20 BOuc Earnings Withholdings Beginning Salaries and Ending Current Check Wages Health United Period Cumulative Income Cumulative Total Expense Net Pay No. Withholdings Way $ 15.00 Insurance Таx Earnings $ 4,500.00 $ 81,500.00 119,200 OASDI Medicare Earnings $ 77,000.00 Earnings $ 4,500.00 $ 90.00 $ 3,150.75 801 $ 1,349.25 $ 900.00 $ 279.00 65.25 7,200.00 802 5,313.60 35.00 1,886.40 144.00 1,200.00 104.40 403.00* 7,200.00 112,000.00 3,300.00 803 2,381.55 918.45 0.00 66.00 600.00 47.85 204.60 51,300.00 48,000.00 61,000.00 3,300.00 3,300.00 804 2,111.55 1,188.45 20.00 66.00 850.00 47.85 204.60 64,300.00 3,300.00 4,500.00 805 2,965.75 1,534.25 0.00 90.00 1,100.00 65.25 279.00 4,500.00 4,500.00 $ 22,800.00 $320,800.00 $ 22,800.00 0 $6,876.80 $15,923.20 70.00 $ 456.00 $ 330.60 $4,650.00 $1,370.20 $298,000.00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The payroll register for a payroll period for Ceramic Company has been completed.
Assume the following payroll tax rates:
1 /8 S00
FICA-OASDI tax, 6.2 % on the first- of earnings.
FICA-Medicare tax, 1.45% on all earnings
State unemployment tax, 5.4% on the first $7,000 of earnings.
Federal unemployment tax, 0.6% on the first $7,000 of earnings.
1. Journalize the payroll for the October 31, 20XX pay period.
2. Journalize Ceramic Company's expenses for employer payroll taxes for the pay period.
3. Journalize the payment to employees.
4. Journalize the payment of withholdings and employer taxes.
20 BOuc
Transcribed Image Text:Earnings
Withholdings
Beginning
Salaries and
Ending
Current
Check
Wages
Health
United
Period
Cumulative
Income
Cumulative
Total
Expense
Net Pay
No.
Withholdings
Way
$ 15.00
Insurance
Таx
Earnings
$ 4,500.00 $ 81,500.00
119,200
OASDI
Medicare
Earnings
$ 77,000.00
Earnings
$ 4,500.00
$ 90.00
$ 3,150.75
801
$ 1,349.25
$
900.00
$ 279.00
65.25
7,200.00
802
5,313.60
35.00
1,886.40
144.00
1,200.00
104.40
403.00*
7,200.00
112,000.00
3,300.00
803
2,381.55
918.45
0.00
66.00
600.00
47.85
204.60
51,300.00
48,000.00
61,000.00
3,300.00
3,300.00
804
2,111.55
1,188.45
20.00
66.00
850.00
47.85
204.60
64,300.00
3,300.00
4,500.00
805
2,965.75
1,534.25
0.00
90.00
1,100.00
65.25
279.00
4,500.00
4,500.00
$ 22,800.00 $320,800.00
$ 22,800.00
0
$6,876.80 $15,923.20
70.00
$ 456.00
$ 330.60 $4,650.00
$1,370.20
$298,000.00
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