PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN: 9781337619783
Author: BIEG
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Question
Chapter 6, Problem 15PB
1-(a).
To determine
Compute the FICA-OASDI amount to be withheld from each of the employee’s earnings on November 8.
1-(b).
To determine
Compute the FICA-HI amount to be withheld from each of the employee’s earnings on November 8.
1-(c).
To determine
Compute the SUTA amount to be withheld from each of the employee’s earnings on November 8.
2.
To determine
Record the amount of gross earnings of November 8 that are taxable under FICA, FUTA, and SUTA, and compute the total employer payroll taxes.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
The form below shows the amounts that appear in the Earnings to Date column of the employees’ earnings records for 10 full- and part-time workers in Ranger Company. These amounts represent the cumulative earnings for each worker as of November 1, the company’s last payday. The form also gives the gross amount of earnings to be paid each worker on the next payday, November 8.In the state where Ranger Company is located, the tax rates and bases are as follows:Tax on Employees:FICA—OASDI 6.2% on first $137,700FICA—HI 1.45% on total earningsSUTA 0.5% on first $8,000Tax on Employer:FICA—OASDI 6.2% on first $137,700FICA—HI 1.45% on total earningsFUTA 0.6% on first $7,000SUTA 2.8% on first $8,000In the appropriate columns of the form below, do the following:Compute the amount to be withheld from each employee’s earnings on November 8 for (a) FICA—OASDI, (b) FICA—HI, and (c) SUTA, and determine the total employee taxes.Record the portion of each employee’s earnings that is taxable under FICA,…
The form below shows the amounts that appear in the Earnings to Date column of the employees' earnings records for 10 full-time and part-time workers in Ranger Company. These amounts represent the cumulative earnings for each worker as of November 1, the company's last payday. The form also gives the gross amount of earnings to be paid each worker on the next payday, November 8.
In the state where Ranger Company is located, the tax rates and bases are as follows:
Tax on Employees:
FICA—OASDI
6.2% on first $137,700
FICA—HI
1.45% on total earnings
SUTA
0.5% on first $8,000
Tax on Employer:
FICA—OASDI
6.2% on first $137,700
FICA—HI
1.45% on total earnings
FUTA
0.6% on first $7,000
SUTA
2.8% on first $8,000
In the appropriate columns of the form shown below, do the following:
1. Compute the amount to be withheld from each employee's earnings on November 8 for (a) FICA-OASDI, (b) FICA-HI, and (c) SUTA, and determine the total employee taxes.
2.…
The form below shows the amounts that appear in the Earnings to Date column of the employees' earnings records for 10 full- and part-time workers in Unger Company. These amounts represent the cumulative earnings for each worker as of October 4, the company's last payday. The form also gives the gross amount of earnings to be paid each worker on the next payday, October 11.
In the state where Unger Company is located, the tax rates and bases are as follows:
Tax on Employees:
FICA—OASDI
6.2% on first $137,700
FICA—HI
1.45% on total earnings
SUTA
0.5% on first $8,000
Tax on Employer:
FICA—OASDI
6.2% on first $137,700
FICA—HI
1.45% on total earnings
FUTA
0.6% on first $7,000
SUTA
1.8% on first $8,000
Chapter 6 Solutions
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Ch. 6 - The totals from the payroll register of Olt...Ch. 6 - Olt Companys gross payroll for the week of January...Ch. 6 - _____ 1. 1. Employees earnings record A. Expense...Ch. 6 - Prob. 1QRCh. 6 - For what reason are distribution columns sometimes...Ch. 6 - Prob. 3QRCh. 6 - Prob. 4QRCh. 6 - Prob. 5QRCh. 6 - Prob. 6QRCh. 6 - Prob. 7QR
Ch. 6 - What portions of an employees take-home pay are...Ch. 6 - Prob. 9QRCh. 6 - Prob. 10QRCh. 6 - Prob. 11QRCh. 6 - What must the employer do with unclaimed...Ch. 6 - What special accounts must usually be opened in...Ch. 6 - Prob. 14QRCh. 6 - Prob. 15QRCh. 6 - Prob. 16QRCh. 6 - What accounts are debited and credited when an...Ch. 6 - Prob. 18QRCh. 6 - Prob. 19QRCh. 6 - Prob. 20QRCh. 6 - Prob. 1QDCh. 6 - Prob. 2QDCh. 6 - Prob. 3QDCh. 6 - Prob. 1PACh. 6 - Prob. 2PACh. 6 - a. Cal Ruther, an employer, is subject to FICA...Ch. 6 - The employees of Donnelly Music Company earn total...Ch. 6 - Vulcra, Inc., has a semimonthly payroll of 67,000...Ch. 6 - Prob. 6PACh. 6 - Prob. 7PACh. 6 - The employees of Pelter Company earn wages of...Ch. 6 - The following information pertains to a weekly...Ch. 6 - Prob. 10PACh. 6 - On December 31, 20--, Karmansky Company needed to...Ch. 6 - Kelsey Gunn is the only employee of Arsenault...Ch. 6 - Prob. 13PACh. 6 - At the end of April, Hernandez Company had a...Ch. 6 - Prob. 15PACh. 6 - In the Illustrative Case in this chapter, payroll...Ch. 6 - Prob. 1PBCh. 6 - Prob. 2PBCh. 6 - Prob. 3PBCh. 6 - The employees of Carson Bakery Company earn total...Ch. 6 - Purnell, Inc., has a semimonthly payroll of 53,900...Ch. 6 - Adams, Inc., pays its employees weekly wages in...Ch. 6 - Prob. 7PBCh. 6 - The employees of Portonegra Company earn wages of...Ch. 6 - The following information pertains to a weekly...Ch. 6 - Prob. 10PBCh. 6 - Prob. 11PBCh. 6 - Prob. 12PBCh. 6 - Prob. 13PBCh. 6 - At the end of June, Morton Company had a balance...Ch. 6 - Prob. 15PBCh. 6 - In the Illustrative Case in this chapter, payroll...Ch. 6 - Frank Flynn is the payroll manager for Powlus...
Knowledge Booster
Similar questions
- For tax purposes, assume that the maximum taxable earnings are 118,500 for Social Security and 7,000 for the unemployment tax and that all earnings are taxable for Medicare. For the payroll register for the month of November for Shelby, Inc., determine the taxable earnings for each employee.arrow_forwardPayrex Co. has six employees. All are paid on a weekly basis. For the payroll period ending January 7, total employee earnings were 12,500, all of which were subject to SUTA, FUTA, Social Security, and Medicare taxes. The SUTA tax rate in Payrexs state is 5.4%, but Payrex qualifies for a rate of 2.0% because of its good record of providing regular employment to its employees. Other employer payroll taxes are at the rates described in the chapter. REQUIRED 1. Calculate Payrexs FUTA, SUTA, Social Security, and Medicare taxes for the week ended January 7. 2. Prepare the journal entry for Payrexs payroll taxes for the week ended January 7. 3. What amount of payroll taxes did Payrex save because of its good employment record?arrow_forwardThe W-4, which shows total annual earnings and deductions for federal and state income taxes, must be completed by the employer and given to the employee by January 31.arrow_forward
- The form below shows the amounts that appear in the Earnings to Date column of the employees' earnings records for 10 full- and part-time workers in Unger Company. These amounts represent the cumulative earnings for each worker as of October 4, the company's last payday. The form also gives the gross amount of earnings to be paid each worker on the next payday, October 11. In the state where Unger Company is located, the tax rates and bases are as follows: Tax on Employees: FICA—OASDI 6.2% on first $128,400 FICA—HI 1.45% on total earnings SUTA 0.5% on first $8,000 Tax on Employer: FICA—OASDI 6.2% on first $128,400 FICA—HI 1.45% on total earnings FUTA 0.6% on first $7,000 SUTA 1.8% on first $8,000 In the appropriate columns of the form shown below, do the following: 1. Compute the amount to be withheld from each employee's earnings on October 11 for (a) FICA—OASDI, (b) FICA—HI, and (c) SUTA, and determine the total employee taxes. 2. Record…arrow_forwardThe names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The marital status and the number of allowances claimed are shown on the payroll register, along with each employee’s weekly salary, which has remained the same all year. Complete the payroll register for the payroll period ending December 20, the 51st weekly payday. The state income tax rate is 2% of total earnings, the city income tax rate is 1.5% of the total gross earnings, and the wage-bracket method is used for federal income taxes.arrow_forwardThe names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The marital status and the number of allowances claimed are shown on the payroll register, along with each employee's weekly salary, which has remained the same all year. Complete the payroll register for the payroll period ending December 20, 20--, the 51st weekly payday. The state income tax rate is 2% of total earnings, the city income tax rate is 1.5% of the total gross earnings, and the wage-bracket method is used for federal income taxes. Hint: If wages are higher than the last amount on the appropriate wage-bracket table, the percentage method must be used. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. Hogan Thrift ShopPayroll Register Deductions FOR PERIOD ENDING December 20, 20-- (a) FICA Employee Name MaritalStatus No. of W/HAllowances TotalEarnings OASDI HI (b)FIT (c)SIT…arrow_forward
- The names of the employees of Hogan Thrift Shop are listed on the following payroll register. Employees are paid weekly. The filing status is shown on the payroll register, along with each employee's weekly salary, which has remained the same all year. Complete the payroll register for the payroll period ending December 20, 20--, the 51st weekly payday. The state income tax rate is 2% of total earnings, the city income tax rate is 1.5% of the total gross earnings, and the wage-bracket method is used for federal income taxes. Enter all amounts as positive numbers. Round your calculations and final answers to the nearest cent. If an amount is zero, enter "0". As we go to press, the federal income tax rates for 2021 are being determined by budget talks in Washington and not available for publication. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from 2020 or later with Standard Withholding and 2020 FICA rates have been used. Example 4-3 To use the…arrow_forwarddevratarrow_forwardplease explain your answerarrow_forward
- The monthly salaries for December and the year-to-date earnings of the employees of Lincoln Project Company as of November 30 follow. Determine the amount of social security tax to be withheld from each employee's gross pay for December. Assume a 6.2 percent social security tax rate and an earnings base of $142,800 for the calendar year. Note: Round your answers to 2 decimal places. Social Employee Number December Salary Year-to-Date Earnings Security Taxable Social Security Tax Through Earnings 6.20% November 30 December 1 $ 9,200 $ 98,300 2 9,300 69,300 3 10,760 118,360 4 15,700 132,000arrow_forwardThe information listed below refers to the employees of Lemonica Company for the year ended December 31, 2019.The wages are separated into the quarters in which they were paid to the individual employees. For 2019, State D’s contribution rate for Lemonica Company, based on the experience-rating system of the state,was 2.8% of the first $7,000 of each employee’s earnings. The state tax returns are due one month after the end ofeach calendar quarter. During 2019, the company paid $2,214.80 of contributions to State D’s unemployment fund.Employer’s phone number: (613) 555-0029. Employer’s State D reporting number: 00596.Using the forms supplied on pages 5-44 to 5-46, complete the following for 2019:a. Date and amount of the FUTA tax payment for the fourth quarter of 2019 (State D is not a creditreduction state).Tax Payment:Date Amount $b. Employer’s Report for Unemployment Compensation, State D—4th quarter only. Item 1 is the number ofemployees employed in the pay period that includes the…arrow_forwardPeyton Company's payroll for the year is $741,150. Of this amount, $472,770 is for wages paid in excess of $7,000 to each individual employee. The SUTA rate in Peyton Company's state is 2.9% on the first $7,000 of each employee's earnings. Compute: Net FUTA taxarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
College Accounting (Book Only): A Career ApproachAccountingISBN:9781305084087Author:Cathy J. ScottPublisher:Cengage Learning
College Accounting (Book Only): A Career ApproachAccountingISBN:9781337280570Author:Scott, Cathy J.Publisher:South-Western College Pub
College Accounting, Chapters 1-27AccountingISBN:9781337794756Author:HEINTZ, James A.Publisher:Cengage Learning,
College Accounting, Chapters 1-27 (New in Account...AccountingISBN:9781305666160Author:James A. Heintz, Robert W. ParryPublisher:Cengage Learning
Century 21 Accounting Multicolumn JournalAccountingISBN:9781337679503Author:GilbertsonPublisher:Cengage
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:South-Western College Pub
College Accounting, Chapters 1-27
Accounting
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:Cengage Learning,
College Accounting, Chapters 1-27 (New in Account...
Accounting
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:9781337679503
Author:Gilbertson
Publisher:Cengage