Barney's Bagels Payroll Register Total Taxahle Farnings of All Empluyces Cnemployment Cawmpensation $10,500 Total Farning Social Security $12,200 S12,200

Q: Journalize the transactions shown

A: Calculate Salary expense = Gross salary - Tax payables - Insurance premium payables.

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following: Line…

A: Payroll tax expense refers to the taxes that an employer must pay on behalf of their employees based…

Q: The payroll register of Longboat Co. indicates $5,400 of social security withheld and $1,350 of…

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: Given the following data from the payroll register of Johnson Construction, prepare the journal…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: The weekly payroll of Abkar Hardware includes 19 employees who earn $280.00 each. Using a 6.2% FICA…

A: The combined tax rate for Social Security and Medicare is 7.65% of a person's taxable income.…

Q: The payroll register of Longboat Co. indicates $5,400 of social security withheld and $1,350 of…

A: Payroll: The total payment that a company is required to pay its employee for the service is called…

Q: Sarasota Corp.'s gross payroll for April is $50,300. The company deducted $2,217 for CPP, $1,073 for…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Selected information from the payroll register of Barbara's Stables for the week ended September 28,…

A: Tax liability: It is the total amount of tax owed is a given period, by individuals and…

Q: Lindsey Vater's weekly gross earnings for the week ended March 9 were $3,950, and her federal Income…

A: The net pay is the calculation of the deduction of expenses allowed to be deducted by the company…

Q: In January, gross earnings in Lugo Company totaled $64,000. All earnings are subject to 7.65% FICA…

A: Payroll Tax = FICA Tax + State unemployment Tax + Federal Unemployment Tax

Q: The payroll register for Gentry Company for the week ended December 17 indicated the following:…

A: If a business has employees, it has to record for payroll. Payroll is the aggregate expenditure on…

Q: Urban Window Company had gross wages of $370,000 during the week ended July 15. The amount of wages…

A: Journal Entry :- The purpose of preparing the journal entry to segregate the transaction which are…

Q: On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register…

A: Payroll expense is the expense incurred by an employer for the employment given by him. It includes…

Q: The payroll register of Ruggerio Co. indicates $13,920 of social security withheld and $3,480 of…

A: Journal entry to record the payroll tax expense for the period: Date Description Debit Credit…

Q: ABC Company, a computer repair shop provided the following information at the end of its first month…

A: Statement of profit or loss depicts the profit earned or loss incurred during the designated period…

Q: Ultimate Accounting Services has the following payroll information for the week ending in December…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: From the following information, calculate the payroll tax expense for Gray Company for the payroll…

A: Since cumulative payroll for the current payroll period is less than $127,700, all payroll for…

Q: The payroll register of Heritage Co. indicates $13,800 of social security withheld and $3,450 of…

A: State unemployment tax payable= Earnings x State rate= $36000*5.40%= $1944 Federal Unemployment tax…

Q: The payroll register of Ruggerio Co. indicates $10,500 of social security withheld and $2,625 of…

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: Calculation and Journal Entry for Employer Payroll Taxes Portions of the payroll register for La…

A: Taxation: Taxation refers to the imposition of compulsory financial obligations by the government on…

Q: Payroll registerThe following data for Throwback Industries Inc. relate to the payroll for the…

A: A payroll register is a register in which all the data related to the individual working in the…

Q: Lindsey Vater's weekly gross earnings for the week ended March 9 were $2,980, and her federal income…

A: Gross pay is the total wages or salary earned by an employee during an accounting period.Net pay is…

Q: The invoice date for a bill is July 22 with the terms 4/10 EOM. The discount date and due date are:…

A: EOM dating: The discount date is calculated from the end of the month instead of the date of the…

Q: Betina Apparael Inc., operates a retail store and must determine the proper December 31, 2019,…

A: Accrued Expenses:- These are the expenses that have been recorded in the books of accounts or…

Q: Cramer Company issued a $960,000, 5%, 90-day note receivable dated July 3. Calculate the maturity…

A: As per our protocol we provide solution to the one question only but you have asked two questions…

Q: Fishing Guides Co. has four employees. FICA Social Security taxes are 6.2% of the first $137,700…

A: Payroll: It implies to the list consisting the name of the employees and the amount that is required…

Q: In January, gross earnings in Sheridan Company totaled $60,000. All earnings are subject to 7.65%…

A: Payroll tax is typically described as the tax that would be withheld, imposed, or imposed on the…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Social Security Tax Payable  = Gross salaries x Social security tax rate = $352,000*6% = $21,120…

Q: CALCULATING PAYROLL TAXES EXPENSE AND PREPARING JOURNALENTRY Selected information from the payroll…

A: SUTA stands for "The State Unemployment Tax Act".  SUTA tax will be levied on the total unemployment…

Q: Wallace Corporation summarizes the following information from its weekly payroll records during…

A: The objective of the question is to calculate the amount that should be debited to salaries expense…

Q: Complete Accounting Services has the following payroll information for the week ended December 7.…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: Calculation and Journal Entry for Employer Payroll Taxes Portions of the payroll register for…

A: Payroll accounting keeps track of your employees' wages and accounts for any extra expenses incurred…

Q: The payroll register of Seaside Architecture Company indicates $910 of social security and $251 of…

A: Net Salaries Payable = Total Salaries - Social Security Tax - Medicare Tax - Federal Income Tax =…

Q: he payroll register of Seaside architecture company indicates $915 of Social Security and $177 of…

A: A record is frequently recorded in the primary ledger; however, it may alternatively be entered in a…

Q: In January, the payroll supervisor determines that gross earnings for Sandhill Company are $108,000.…

A: Social Security tax = Gross Earnings x Social Security tax rate = $108000*6.20% = $6,696  Medicare…

Q: In January, gross earnings in Swifty Company totaled $96,000. All earnings are subject to 7.65% FICA…

A: FICA Taxes payable = Gross earnings x FICA tax rate = 96,000 x 7.65% = $7,344

Q: From the following information, calculate the payroll tax expense for Bowling Company for the…

A: Since cumulative payroll for the current payroll period is less than $127,700, all payroll for…

Q: The payroll register of Heritage Co. indicates $3,900 of social security withheld and $975 of…

A: Net Salaries Payable = Total salaries for the period - Total amount withheld = $65,000 - ($3,900 +…

Q: apply: payi was Federal and state income tax withheld Health insurance premiums paid by employer…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: The payroll register for Gamble Company for the week ended April 29 indicated the following:…

A: Journal: Recording of a business transactions in a chronological order.

Q: Nov. 30: Journalized the monthly payroll for November, based on the following data. Description…

A: answers Description Debit Credit Sales Salaries Expense $135,000   Office Salaries…

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following: Line…

A: a. Journalize the entry to record the payroll for the week of May 18.Date Account Debit CreditMay 18…

Q: The summary of the payroll for the monthly pay period ending July 15 indicated the following:…

A: State Unemployment Tax Payable = Salaries Expense x state unemployment tax rate = 30000*3.1% = $930…

Q: n January, gross earnings in Coronado Company totaled $74,000. All earnings are subject to 7.65%…

A:

Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.