Horngren's Accounting Plus Mylab Accounting With Pearson Etext -- Access Card Package (12th Edition)
12th Edition
ISBN: 9780134674681
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 11, Problem E11.20E
Recording employee and employer payroll taxes
Learning Objective 2
2. Salaries and Wages Payable $15,923.20
County Company had the following partially completed payroll register.
| Earnings | Withholdings | Net Pay | Check No. | Salaries and Wages Expense | |||||||
| Beginning Cumulative Earnings | Current Period Earnings | Ending Cumulative Earnings | OASDI | Medicare | Income Tax | Health Insurance | United Way | Total Withholdings | |||
| $ 77,000 | $ 4,500 | $ 900 | $90 | $ 15 | 801 | ||||||
| 112,000 | 7,200 | 1,200 | 144 | 35 | 802 | ||||||
| 48,000 | 3,300 | 600 | 66 | 0 | 803 | ||||||
| 61,000 | 3,300 | 850 | 66 | 20 | 804 | ||||||
| 0 | 4,500 | 1,100 | 90 | 0 | 805 | ||||||
| $ 298,000 | $22,800 | $4,650 | $456 | $70 | |||||||
Requirements
- Complete the payroll register. Round to two decimals.
- Journalize County Company’s salaries and wages expense accrual for the current pay period.
- Journalize County Company’s expenses for employer payroll taxes for the current pay period.
- Journalize the payment to employees.
- Journalize the payment for withholdings and employer payroll taxes.
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Students have asked these similar questions
Exhibit 6-1
The totals from the first payroll of the year are shown below.
Total
Earnings
$36,195.10
FICA
OASDI
$2,244.10
FICA
HI
$524.83
Refer to Exhibit 6-1. Journalize the entry to record the payroll.
FIT
W/H
$6,515.00
State
Tax
$361.95
Union
Dues
$500.00
Net
Pay
$26,049.22
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Question text
The totals from the first payroll of the year are shown below.
Total
Earnings
FICA
OASDI
FICA
HI
FIT
W/H
State
Tax
Union
Dues
Net
Pay
$36,195.10
$2,244.10
$524.83
$6,515.00
$361.95
$500.00
$26,049.22
Journalize the entry to deposit the FICA and FIT taxes.
Chapter 11 Solutions
Horngren's Accounting Plus Mylab Accounting With Pearson Etext -- Access Card Package (12th Edition)
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