What is the journal entry to record Legal Corporation’s payment of state unemployment taxes for $600 if the tax has been accrued? A. State unemployment     taxes payable $600   Cash   $600 B. State unemployment     taxes payable $600   Accrued payroll   $600 C. Manufacturing overhead $600   State unemployment     taxes payable   $600 D. Accrued payroll $600   Cash   $600

Q: How do I jounalize the enties for a and b? a. Journalize the entry to record the payroll for the…

A: Introduction: The journal is the book of prime entries, also known as the book of original entries.…

Q: Required Information [The following information applies to the questions displayed below.] BMX…

A: Social Security Tax :Social Security tax is the tax levied on both employers and employees to fund…

Q: The following totals for the month of April were taken from the payroll register of Sheffield…

A: Journal entry is the primary reporting of the business transactions in the books of accounts. These…

Q: Journalize payroll tax The payroll register of Heritage Co. indicates $2,406 of social security…

A: Payroll tax expense = Social Security taxes payable+ Medicare taxes payable+ State unemployment- tax…

Q: Line following information applies to the questions displayed below.j BMX Company has one employee.…

A: Journal entry is the process of documenting commercial transactions for the first time in the books…

Q: Q2 Payroll Invoice dated 01/15/2020 Net Pay Employee Tax Withholding 401k Employee Contribution…

A: The gross salary represents the total compensation to the employee. The net pay represents the net…

Q: Exhibit 6-1 The totals from the first payroll of the year are shown below. Total Earnings $36,195.10…

A: Payroll tax: A payroll tax is a tax withheld from an employee's salary by an employer who remits it…

Q: The following information relates to CA Enterprises payroll for the month of July: Wages Income tax…

A: Payroll taxes refer to those taxes paid by both employer and employee in order to fund the employee…

Q: The following totals for the month of April were taken from the payroll records of Noll Company.…

A: The payroll register records the salaries of all employees and payroll-related transactions. These…

Q: Required information [The following information applies to the questions displayed below.] BMX…

A: The question is to solve for situation a only. Payroll taxes expense = FICA - Social Security taxes…

Q: applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes…

A: Federal income taxes:- The internal revenue service imposes a tax known as the federal income tax on…

Q: 1. What loan from the federal government given to individual states is used to provide unemployment…

A:

Q: $ 9,814.40 Total gross earnings of all employees: Total social security tax withheld: 608.49 Total…

A: Payroll tax is a tax which is used to deducted to social security and Medicare expenses of employees…

Q: according to a summary of the payroll of Scotland company, salaries for the. Were 500,000 federal…

A: Introduction: A journal is the official book of the firm in which all transactions are documented in…

Q: e the percentage method of income tax calculations to complete the payroll roster: Marital…

A: Taxes are to be withhled depends on the income and the marital status and it depends on the slab of…

Q: LZ Uonsəno Total gross earnings of all employees: $ 9,814.40 608.49 Total social security tax…

A: Payroll tax expense for the employer includes FICA taxes (social security tax and medicare tax) ,…

Q: A company wants to pay a bonus to an employee so that the net pay is $10,000. The federal income tax…

A: Federal income tax, State income tax and FICA tax are to be deducted from the bonus paid.     We…

Q: P10-3A) Recording Payroll and Payroll Taxes Ruth Corporation had the following payroll for April:…

A: Information on employee benefits, including health insurance, retirement contributions, and other…

Q: Widmer Company had gross wages of $226,000 during the week ended June 17. The amount of wages…

A: Social Security Tax Payable = Gross wages x Social security tax rate Medicare Tax Payable = Gross…

Q: Journalize Payroll Tax The payroll register of Wang Engineering Co. indicates $966 of social…

A: State unemployment tax payable = 5000×5.4% =$270

Q: The following totals for the month of June were taken from the payroll register of Sheffield…

A: The amount of taxes that an employer must pay in connection to the wages and salaries it pays its…

Q: The payroll register of Patel Heritage Co indicates $2,280 of social security withheld and $570.00…

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: Sales salaries Federal income tax withheld Office salaries Medical insurance withheld Social…

A: Payroll Calculation of payroll expenses which are treated as important part in the accounting in the…

Q: Match each form name with its associated description. Form 1099-NEC Form 1096 Form W-9…

A: Since the questions asked are different,As per our guidelines ,we are allowed to answer only…

Q: After the Yukon Corporation paid its employees on May 15, 20X1, and recorded the corporation's share…

A: The payroll taxes refer to the taxes paid by the employees and employer on the salary, wages, and…

Q: On September 30, Cody Company's selected account balances are as follows: Employees' Federal Income…

A: Journal entries are the basic foundation of financial statements in which at least two accounts are…

Q: Exhibit 6-1 The totals from the first payroll of the year are shown below. ​ Total Earnings FICA…

A: SOLUTION- JOURNAL ENTRY IS A SET OF ECONOMIC EVENTS WHICH CAN BE MEASURED IN MONETARY TERMS .THESE…

Q: Amounts to Be Reported on Wage and Tax Statements (Form W-2)                             Gross…

A: Employees Medicare taxes withheld Amett 123.75 Cruz 864 Edwards 360 Harvin 90 Nicks 1650…

Q: According to a summary of the payroll of Scotland Company, salaries for the period were $500,000.…

A: Social Security tax = Taxable Earnings x Social Security tax rate = $500,000*6.00% = $30,000…

Q: An employee has total gross wages of $7,000, Federal Unemployment Expense, and State Unemployment…

A: FICA ( Federal Insurance Contribution Act) taxes refers to the deductions from the gross earnings of…

Q: Exhibit 6-1 The totals from the first payroll of the year are shown below. Total Earnings $36,195.10…

A: Payroll tax: A payroll tax is a tax withheld from an employee's salary by an employer who remits it…

Q: Journalize Payroll Tax The payroll register of Patel Heritage Co indicates $2,568 of social security…

A: Journal Entry is the primary step to record the transaction in the books of accounts. The increase…

Q: The payroll register of Seaside Architecture Company indicates $850 of social security and $215 of…

A: Payroll tax expense refers to a liability that is paid to the Federal or state government by the…

Q: Journalize payroll taxThe payroll register of Heritage Co. indicates $4,200 of social security…

A: The payroll accounting includes the recording of the payroll expenses, employees'…

Q: A company's payroll for the month ended January 31 is summarized as follows: Total wages Federal…

A: Payroll expenses are the overall costs incurred by a company in rewarding its employees for their…

Q: and a taxable earnings threshold of $29,600. Current perio e the same as those for FICA taxes.…

A: Given that his year-to-date taxable earnings for FUTA and SUTA taxes prior to the current pay period…

Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.