Accounting Principles - Standalone book
Accounting Principles - Standalone book
12th Edition
ISBN: 9781118875056
Author: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Publisher: WILEY
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Chapter 11, Problem 11.3AP

(a)

To determine

Payroll Register: A statement that reports the earnings and taxes computed based on employee’s earnings during a period is known as payroll register. It records earnings and deductions for each employee in a company.

Journal Entries: Entries to record the financial transactions during each accounting period are called journal entries. Income, liabilities and the giver are credited if the balance is increased and debited if the balance is reduced Expenses, assets and the receiver are debited if the balance is increased and credited if the balance is reduced in a journal entry.

To prepare: A payroll register for weekly payroll of Company M.

(b)

To determine

To record: The journal entry for payroll and employer payroll taxes for March 15 payroll.

(c)

To determine

To record: The journal entry for payment of payroll for March 15.

(d)

To determine

To record: The payment of FICA and federal income taxes payable to government.

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Chapter 11 Solutions

Accounting Principles - Standalone book

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