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 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: According to a summary of the payroll of Guthrie Co., $600,000 was subject to the 6.0% social…

A: Payroll Tax refers to those taxes that employers withhold from the wages or salaries of the…

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: Compute Payroll An employee earns $20 per hour and 1.75 times that rate for all hours in excess of…

A:

Q: Compute Payroll An employee earns $22 per hour and 2 times that rate for all hours in excess of 40…

A: The gross pay of an employee indicates the total earnings to an employee for the services provided.…

Q: The payroll register of Seaside Architecture Company indicates $820 of social security and $215 of…

A: Payroll tax: It refers to the tax that is levied on the company on the spending of its employees.…

Q: Selected columns of Envirocon Company's payroll register for March are as follows. The employer's…

A: Payroll costs are costs related to salaries of employees and respective taxes that needs to be paid…

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: In January, the payroll supervisor determines that gross earnings for Sheridan Company are $68,000.…

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

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: 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 payroll register of Seaside Architecture Company indicates $920 of social security and $256 of…

A: Journal Entry It is used to record the business transactions of an enterprises

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: 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: The payroll register of Salem Communications Co. indicates 6.2% of social security withheld and…

A: Payroll taxes are the amount of tax liability that is to be paid on payment of salaries and wages to…

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: 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: The following totals for the month of April were taken from the payroll register of Oriole Company.…

A: Understanding Accrual Accounting:In accrual accounting, we recognize expenses in the period they are…

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: 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 payroll register for Heilman Mfg. for the week of August 20th indicates the following: salaries…

A: Prepare journal entry to record payroll for the week of August 20:

Q: year, Regia nd $70,840 of sales salarles. Withholdings from the employees' salaries Include FICA 2%,…

A: Tax refers to the compulsory obligation or financial obligation which is imposed by authorities on…

Q: Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to…

A: Employee's Payroll: It is the amount for which an employee contributes or works for a company.…

Q: The following transactions relating to payroll, payroll deductions, and payroll taxes occurred…

A: Payroll is the collective term used to define the payments related to employees’ salaries or wages.…

Q: ) Journalize the payroll entry for the week. DATE   Debit Credit X/X…

A:

Q: Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to…

A: FICA stands for Federal Insurance Contributions Act. It is a U.S. payroll tax.These taxes are social…

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

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

Q: The payroll register of Seaside Architecture Company indicates $840 of social security and $213 of…

A: Formula: State Unemployment Tax Payable = Total salaries x State Unemployment Tax rate Federal…

Q: The invoice date for a bill is September 15 with the terms 2/15, n/40. The discount date and due…

A:

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

A: Answer:- Payroll taxes:- All taxes pertaining to a person's salary, wage, bonus, commission and tips…

Q: Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to…

A: Payroll is important for the business entity to maintain the payroll expenses that are incurred to…

Q: At the end of the weekly payroll period on June 30, the payroll register of Concord Consultants…

A: Payroll Deduction: This includes all the amount that is withheld by the employer from the gross…

Q: Employee net pay Lindsey Vater's weekly gross earnings for the week ended March 9 were $ 3,160, and…

A: Lets understand the basics.Net pay refers to an employee's wages after all withholding have been…

Q: Instructions The payroll register of Heritage Co. indicates $13,320 of social security withheld and…

A: Minor Improvement:While not strictly necessary for this specific entry, some companies might choose…

Q: Recording Employee Payroll On January 15, the end of the first biweekly pay period of the year, Chen…

A:

Q: An employee earns $16 per hour and 1.5 times that rate for all hours in excess of 40 hours per week.…

A: a. Gross pay for the week 1120.00   b. Net pay for the week 778.00           Working Notes:…

Q: In January, the payroll supervisor determines that gross earnings for Pharoah Company are $64,000.…

A: Journal entry: It is prepared to record the financial and non financial transactions of the business…

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.