Payroll Accounting
Payroll Accounting
19th Edition
ISBN: 9781337619769
Author: BIEG, Bernard J.
Publisher: Cengage Learning
Question
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Chapter 3, Problem 3PB

a.

To determine

Calculate the amount of FICA taxes that should withhold from Employee E’s wages during April and May.

b.

To determine

Calculate the amount of employer’s FICA taxes on Employee E’s wages and tips during April.

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Martin Hughes earns net self-employment income of $157,100. He works a second job from which he receives FICA taxable earnings of $127,600.Self-Employment tax =
Question 2 U. Richards does not keep his books on the double entry system. His bank summary amount for 2010 is as follows: Balance 1.1.2010 1890 Receipts from $44656 debtors Creditors Loan from U. Miller $2.000 Rates Rent Drawings Cash withdrawn from bank $540 0 Payment to Trade $316 95 2750 1316 3095 1642 Sundry Expense Records of cash paid were sundry $122, trade creditors $642. Cash sales amounted to cash drawings were $5289. The following information is also available: 31.12.201 31.12.2 0 011 Cash in hand $48 $93 Trade creditors $4896 $5091 Accounts Receivables 60 $71 13 32 Rent Owing $250 Rates in Advance $282 $312 Motor van (at valuation) 2800 2400 Stock 11163 13021 Required: A. Statement of Affairs. (to find opening capital as at 31.12.2010) B. Cash Account & Bank Account. C. Accounts Receivables & Accounts Payables Control A/Cs. D. Income Statement for the year ended 31 December 2011.
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Chapter 3 Solutions

Payroll Accounting

Ch. 3 - What are an employers responsibilities for FICA...Ch. 3 - Prob. 6QRCh. 3 - Prob. 7QRCh. 3 - Prob. 8QRCh. 3 - Prob. 9QRCh. 3 - Prob. 10QRCh. 3 - Prob. 11QRCh. 3 - Prob. 12QRCh. 3 - Prob. 13QRCh. 3 - Prob. 14QRCh. 3 - Prob. 15QRCh. 3 - During the year, employee Sean Matthews earned...Ch. 3 - In order to improve the cash flow of the company,...Ch. 3 - Prob. 3QDCh. 3 - Prob. 4QDCh. 3 - The biweekly taxable wages for the employees of...Ch. 3 - During 2019, Rachael Parkins, president of...Ch. 3 - Prob. 3PACh. 3 - Ken Gorman is a maitre d at Carmel Dinner Club. On...Ch. 3 - In 20-- the annual salaries paid each of the...Ch. 3 - Audrey Martin and Beth James are partners in the...Ch. 3 - Prob. 7PACh. 3 - Ralph Henwood was paid a salary of 64,600 during...Ch. 3 - Empty Fields Company pays its salaried employees...Ch. 3 - The monthly and hourly wage schedule for the...Ch. 3 - Prob. 11PACh. 3 - Prob. 12PACh. 3 - Prob. 13PACh. 3 - During the third calendar quarter of 20--, Bayview...Ch. 3 - Prob. 15PACh. 3 - Prob. 16PACh. 3 - Prob. 17PACh. 3 - Prob. 1PBCh. 3 - During 2019, Matti Conner, president of Maggert...Ch. 3 - Prob. 3PBCh. 3 - Moisa Evans is a maitre d at Red Rock Club. On...Ch. 3 - In 20-- the annual salaries paid each of the...Ch. 3 - Amanda Autry and Carley Wilson are partners in A ...Ch. 3 - Prob. 7PBCh. 3 - George Parker was paid a salary of 74,700 during...Ch. 3 - Prob. 9PBCh. 3 - The monthly and hourly wage schedule for the...Ch. 3 - Prob. 11PBCh. 3 - Prob. 12PBCh. 3 - Prob. 13PBCh. 3 - During the third calendar quarter of 20--, the...Ch. 3 - Prob. 15PBCh. 3 - Prob. 16PBCh. 3 - Prob. 17PBCh. 3 - Your assistant has just completed a rough draft of...Ch. 3 - Prob. 2CP
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