College Accounting, Chapters 1-27
23rd Edition
ISBN: 9781337794756
Author: HEINTZ, James A.
Publisher: Cengage Learning,
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Chapter 8, Problem 2CE
To determine
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The following information about the payroll for the week ended December 30 was obtained from the records of Boltz Co.:Required:1. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the following entries (refer to the Chart of Accounts for exact wording of account titles):a. December 30, to record the payroll.b. December 30, to record the employer’s payroll taxes on the payroll to be paid on December 31. Of the total payroll for the last week of the year, $44,000 is subject to unemployment compensation taxes.2. Assuming that the payroll for the last week of the year is to be paid on January 5 of the following fiscal year, journalize the following entries (refer to the Chart of Accounts for exact wording of account titles):a. On page 11 of the journal: December 30, to record the payroll.b. On page 12 of the journal: January 5, to record the employer's payroll taxes on the payroll to be paid on January 5. Since it is a new fiscal year, all…
From the following information, prepare a general journal entry to record the employee benefits expense for Jagger Company for the weekly payroll of May 9.
(Click the icon to view the payroll register.)
Prepare a general journal entry to record the employee benefits expense for Jagger Company for the weekly payroll of May 9. (Record debits first, then credits. Explanations are not required. Round your answers
to the nearest cent.)
Es
Date
May 9
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Accounts
PR
Debit
(...
Credit
Payroll register
Employee
Tad Ness
John Yu
Tom Wait
Total Salary
910
650
830
Print
Tax
173
89
158
Deductions
CPP
43
30
39
Done
ΕΙ
15
11
13
Clear all
Net Pay
679
520
620
-
X
Check answer
Given the following data from the payroll register of Johnson Construction, prepare the journal entry to record payroll for the week ending May 20.
Hours worked
41.5
Regular pay
$400.00
Overtime pay
22.50
Gross pay
422.50
FICA taxes
32.32
Federal income tax
3.00
State income tax
4.00
United Fund
16.00
Insurance
6.00
Total deductions
61.32
Net pay
?
Prepare the journal entry to pay payroll on May 28. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 15.25.)
Account Titles and Explanation
Debit
Credit
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount…
Chapter 8 Solutions
College Accounting, Chapters 1-27
Ch. 8 - Prob. 1TFCh. 8 - Prob. 2TFCh. 8 - Prob. 3TFCh. 8 - Prob. 4TFCh. 8 - A payroll register is a multi-column form used to...Ch. 8 - Prob. 1MCCh. 8 - Prob. 2MCCh. 8 - Prob. 3MCCh. 8 - Prob. 4MCCh. 8 - Social Security Tax Payable and Medicare Tax...
Ch. 8 - Prob. 1CECh. 8 - Prob. 2CECh. 8 - Prob. 1RQCh. 8 - Prob. 2RQCh. 8 - Identify the four factors that determine the...Ch. 8 - Prob. 4RQCh. 8 - Prob. 5RQCh. 8 - Prob. 6RQCh. 8 - Prob. 7RQCh. 8 - Prob. 8RQCh. 8 - Prob. 9RQCh. 8 - Prob. 10RQCh. 8 - Prob. 1SEACh. 8 - COMPUTING OVERTI ME RATE OF PAY AND GROSS WEEKLY...Ch. 8 - Prob. 3SEACh. 8 - CALCUL ATING SOCIAL SECURITY AND MEDICARE TAXES...Ch. 8 - Prob. 5SEACh. 8 - JOURNALIZING PAYROLL TRANSACTIONS On December 31,...Ch. 8 - PAYROLL JOURNAL ENTRY Journalize the following...Ch. 8 - Prob. 8SPACh. 8 - PAYROLL REGISTER AND PAYROLL JOURNAL ENTRY Mary...Ch. 8 - EMPLOYEE EARNINGS RECORD Marys Luxury Travel in...Ch. 8 - COMPUTING WEEKLY GROSS PAY Manuel Sotos regular...Ch. 8 - Prob. 2SEBCh. 8 - Prob. 3SEBCh. 8 - CALCULATING SOCIAL SECURITY AND MEDICARE TAXES...Ch. 8 - Prob. 5SEBCh. 8 - JOURNALIZING PAYROLL TRANSACTIONS On November 30,...Ch. 8 - PAYROLL JOURN AL ENTRY Journalize the following...Ch. 8 - Prob. 8SPBCh. 8 - Prob. 9SPBCh. 8 - Prob. 10SPBCh. 8 - Prob. 1MYWCh. 8 - Prob. 1ECCh. 8 - Prob. 1MPCh. 8 - Prob. 1CP
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- In the Illustrative Case in this chapter, payroll transactions for Brookins Company were analyzed, journalized, and posted for the third quarter of the fiscal year. In this problem, you are to record the payroll transactions for the last quarter of the firms fiscal year. The last quarter begins on April 1, 20--. Refer to the Illustrative Case on pages 6-27 to 6-33 and proceed as follows: a. Analyze and journalize the transactions described in the following narrative. Use the two-column journal paper provided on pages 6-49 to 6-53. Omit the writing of explanations in the journal entries. b. Post the journal entries to the general ledger accounts on pages 6-54 to 6-59. Narrative of Transactions: c. Answer the following questions: 1. The total amount of the liability for FICA taxes and federal income taxes withheld as of June 30 is................................................................................ __________ 2. The total amount of the liability for state income taxes withheld as of June 30 is....................................................................................................... __________ 3. The amount of FUTA taxes that must be paid to the federal government on or before August 1 (assume July 31 is a Sunday) is........................................ __________ 4. The amount of contributions that must be paid into the state unemployment compensation fund on or before August 1 is.................................................. __________ 5. The total amount due the treasurer of the union is........................................ __________ 6. The total amount of wages and salaries expense since the beginning of the fiscal year is.................................................................................................... __________ 7. The total amount of payroll taxes expense since the beginning of the fiscal year is............................................................................................................. __________ 8. Using the partial journal below, journalize the entry to record the vacation accrual at the end of the companys fiscal year. The amount of Brookins Companys vacation accrual for the fiscal year is 15,000.arrow_forwardThe totals from the payroll register of Olt Company for the week of January 25 show: Journalize the entry to record the payroll of January 25.arrow_forwardYour assistant has just completed a rough draft of Form 941, shown on pages 3-72 and 3-73, for the quarter ending March 31, 20--. As the supervisor and authorized signer, you are auditing the form before it is mailed to ensure its accuracy. Four of the companys general ledger accounts are shown on the following two pages. The companys 17 employees are paid on the 15th and last day of each month. The company is a semiweekly depositor. Indicate any changes that should be made on the form before it is signed, dated, and mailed.arrow_forward
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