Which of the following accounts represents the "take-home pay" or "net pay" related to employees?EMPLOYEE BENEFITS PAYABLEOPAYROLL TAX EXPENSESALARY EXPENSESALARY PAYABLE TO EMPLOYEES

The "take-home pay" or "net pay" related to employees represents the amount that employees receive…

Answered: Which of the following accounts…

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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search the term "payroll accounting" to read personal perspectives about payroll practice, outsourcing, and tax form completion. What were three insights you found that were new to you? Some of you may have already worked or currently work or know someone who works in the payroll/accounting field.
3. The current employee earnings record for Beth Salzman is provided below. Update Salzman's earnings record to reflect the November 18 payroll. Earnings Record Instructions EMPLOYEE EARNINGS RECORD FOR THE PERIOD ENDED 20-- 20-- PERIOD ENDED EARNINGS TAXABLE EARNINGS DEDUCTIONS CK. NO. AMOUNT REGULAR OVERTIME TOTAL CUM. TOTAL UNEMPL. COMP. SOC. SEC. FED INC. TAX SOC. SEC. TAX MEDICARE TAX STATE INCOME TAX HEALTH INSUR. CREDIT UNION TOTAL 11/4 330.00 33.00 363.00 6,145.50 363.00 363.00 0 22.51 5.26 12.71 12 72.60 125.08 121 237.92 11/11 440.00 49.50 489.50 6,635.00 489.50 489.50 11.00 30.35 7.10 17.13 12 97.90 175.49 229 314.02 11/18 11/25 GENDER DEPARTMENT OCCUPATION SOCIAL SECURITY NO. MARITAL STATUS ALLOW. PAY RATE DATE OF BIRTH DATE HIRED NAME/ADDRESS EMP. NO.
i am missing a transaction for number 4 "Record the employers payroll expenses"
Which of the following is true about employee pay methods? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) O Employees must request the transfer of payroll earnings to their paycard each period. Employees must be able to access the full amount of their net pay on the pay date. O Employees do not need to own a bank account to receive their pay via direct deposit. O Employers must keep a record of all pay disbursements.
What is self-employment income? Also, what are business-related expenses? And how are they used in individual accounting?
Xerox reports the following pension and retiree health care ("Other") footnote as part of its 10-K report. Pension Benefits Retiree Health 2010 2009 2010 2009 (in millions) Change in Benefit Obligation Benefit obligation, January 1 $9,194 $8,495 $1,102 $1,002 Service cost 178 173 B 7 Interest cost 575 508 54 60 Plan participants' contributions 11 9 26 36 Plan amendments [19) 4 (86) 1 Actuarial loss (in) 477 209 13 124 Aquistions 140 1 1 Currency exchange rate changes (154) 373 6 15 (1) Curtailments Benefits paid/settlements Benefit obligation, December 31 Change in Plan Assets Fair value of plan assets, January 1 (670) [578] (118) (143) $9,731 $9,194 $1,006 $1,102 $7,561 $6,923 $- $- Actual return on plan assets 846 720 - Employer contribution 237 122 92 107 Plan participants' contributions 11 9 26 36 Aquistions 107 - - Currency exchange rate changes (144) 349 Benefits paid/settlements (669) 15781 (118) (143) Other (9) 16 Fair value of plan assets, December 31 Net funded status at…
Payroll Schedule Pay Date Payroll Start Date Payroll End Date 2/27/2021 3/13/2021 3/27/2021 Total 3/5/2021 3/19/2021 4/2/2021 4/16/2021 Payroll Register - 04/02/2021 Employee Hire Date Employee A Employee B Employee C 4/30/2021 5/14/2021 5/28/2021 6/11/2021 6/25/2021 Payroll Register - 04/16/2021 Employee Hire Date Employee A Employee B Total 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 4/10/2021 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 21,153.85 Employer Taxes Employee Tax Withholding Net Pay 1,523.08 1,100.00 1,015.38 553.85 400.00 369.23 1,323.08 Employer Taxes 553.85 400.00 369.23 369.23 1,692.31 3,638.46 Q1 - Please determine the payroll accrual Amounts for closing March 2021 Q2 - Please prepare payroll accrual JE(s) to close March 2021…
Completing the Payroll Register The Employee Payroll Register presents all the computations previously performed as it applies to this payroll period. Complete the following steps (if a field should be blank, leave it blank): Record the amount to be withheld for group insurance. Record the amount to be withheld for health insurance. Each worker is to be paid by check. Assign check numbers provided to the correct employee. Compute the net pay for each employee. Total the input columns. KIPLEY COMPANY, INC.Payroll RegisterFor Period Ending January 8, 20-- EARNINGS DEDUCTIONS NET PAY Name Gross OASDI HI FIT SIT SUTA CIT SIMPLE Grp. Ins. Health Ins. Ck. No. Amount Carson, F. $700.00 $43.40 $10.15 $48.00 $21.49 $0.42 $21.00 $20.00 Wilson, W. 897.04 55.62 13.01 68.00 27.54 0.54 26.91 50.00 Utley, H. 678.75 42.08 9.84 14.00 20.84 0.41 20.36 40.00 Fife, L. 877.10 54.38 12.72 33.00 26.93 0.53 26.31 50.00 Smith, L. 790.00 48.98 11.46 59.00…
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The Employee Retirement Income Security Act (ERISA) was established to provide: Question 16 options: a) funding for retirement plans. b) mandatory retirement plans for self-employed individuals. c) protection to employees participating in private employer retirement plans. d) individual trust funds for employees retiring from jobs in the federal government. e) the ability to retain the same retirement insurance when employees change employers.
Taxes to be Withheld From Gross Pay 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 $90 for this pay period. Note: Round your answers to 2 decimal places. General Journal View transaction list Journal entry worksheet 1 Prepare the employer's September 30 journal entry to record accrued salary expense and its related payroll liabilities for this employee. Note: Enter debits before credits. Date September 30 Record entry General Journal Clear entry Debit Credit View general journal
True or False 4. The entry to record the employer's payroll taxes would include a debit to an expense account and a credit to one or more liability accounts.

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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 EMPLOYEES