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.

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Answer 1

Question

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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Answer 2

Question

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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See solution

Answer 3

Question

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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Answer 4

Question

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.

Expert Solution & Answer

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Answer 5

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.

Answer 6

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.

Answer 7

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.

Answer 8

(b)

To determine

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

Answer 9

(b)

To determine

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

Answer 10

(c)

To determine

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

Answer 11

(c)

To determine

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

Answer 12

(d)

To determine

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

Answer 13

(d)

To determine

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

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 11 - Prob. 1Q Ch. 11 - Prob. 2Q Ch. 11 - Prob. 3Q Ch. 11 - Prob. 4Q Ch. 11 - Prob. 5Q Ch. 11 - Prob. 6Q Ch. 11 - Prob. 7Q Ch. 11 - 8. What is the difference between gross pay and...Ch. 11 - Prob. 9Q Ch. 11 - Prob. 10Q

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

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

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

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