During October, Seger Insurance employees earned $100,000 in wages. Social Security applied to $86,000 of these wages, while Medicare applies to all $100,000. State and federal unemployment taxes of $1,300 and $650 are owed, respectively. Required: Prepare the necessary journal entry for Seger to record the employer portion of these payroll taxes. If an amount box does not require an entry, leave it either blank.

Q: Lightning Electronics is a midsize manufacturer of lithium batteries. The company’s payrollrecords…

A:

Q: An employee receives an hourly rate of $15, with time and a half for all hours worked in excess of…

A: Gross earnings = Regular earnings + Overtime earnings = (40 hours x $15 per hour) + (6 hours x $15…

Q: Ehrlich Co. began business on January 2, 20Y8. Salaries were paid to employees on the last day of…

A: a.

Q: Ehrlich Co. began business on January 2, 20Y8. Salaries were paid to employees on the last day of…

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

Q: An employee receives an hourly rate of $18, with time and a half for all hours worked in excess of…

A: Introduction:- The following basic information as follows under:- Federal income tax withheld, $144…

Q: During the month of January, an employer incurred the following payroll taxes: FICA Social Security…

A: The journal entries are prepared to record the transactions on the regular basis.

Q: An employee receives an hourly wage rate of $15, with time-and-a-half for all hours worked in excess…

A: Payroll accounting is a part of accounting which is made to record transaction made in the favor of…

Q: e. Record any journal entries separately for the employees’ pay/withholding, fringe benefits, and…

A: Income tax Payable: It refers to the amount which is required to be paid by an entity on the taxable…

Q: Sean Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned $300.00…

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

Q: You have been asked to prepare the entry to record the payroll on February 15, 20X1, for Hotel…

A: To determine each employee's FICA tax liability, multiply their gross pay by 7.65%, as seen below.…

Q: Lightning Electronics is a midsize manufacturer of lithium batteries. The company’s payroll records…

A: An organization's payroll costs not just incorporate the wages paid to the representatives. In the…

Q: The names of the employees of Hogan Thrift Shop are listed on the following payroll register.…

A: The payroll register is the employee register kept by the human resource department to record the…

Q: During the month of January, an employer incurred the following payroll taxes: FICA Social Security…

A: Working notes: Payroll tax expense = FICA social security tax + FICA Medicare tax + FUTA taxes +…

Q: During the month of March, Preston Company's employees earned wages of $90,000. Withholdings related…

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

Q: akarot Co. began business on January 2. Salaries were paid to employees on the last day of each…

A: Payroll taxes:   Payroll taxes are taxes imposed on employers or employees, and are usually…

Q: Portions of the payroll register for Barney's Bagels for the week ended July 15 are shown below. The…

A: Employer Payroll tax expense = Social Security tax + Medicare tax + FUTA tax + SUTA tax

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

A: Payroll taxes are charges forced on employers or workers and are typically determined as a level of…

Q: Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and…

A: Particulars  debit credit  mar.31 Salaries and wage Expense  FICA taxes payable Federal income…

Q: During October, Seger Insurance employees earned $100,000 in wages. The employer's share of Canada…

A: Journal entries are passed following the golden rules of accounting. Debit all assets and expenses…

Q: The following date for Presco Inc. relate to the payroll for the week ended February 9: Employee…

A: A's overtime=Hours worked-Hours per week=52-40=12 hours

Q: The names of the employees of Hogan Thrift Shop are listed on the following payroll register.…

A: HOGAN THRIFT SHOP PAYROLL REGISTER FOR PERIOD YEAR ENDING Employee name Marital status No.…

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

A: Requirement 1)a. Prepare the journal entry to record the payroll on December 30.

Q: For all payroll calculations, use the following tax rates and round amounts to the nearest cent…

A:

Q: An employee receives an hourly wage rate of $23, with time-and-a-half for all hours worked in excess…

A: Definition: The net amount payable to the employee is the amount paid net of taxes. It is calculated…

Q: XYZ Company is processing payroll for the week ending January 9th. Employee earnings total $5,000.…

A: Employees total earnings=$5,000 Federal Income tax Withheld=$1100 Social Security tax rate=6% =…

Q: Thomas Longbow is the only employee of Presido, Incorporated During the first week of January,…

A: Amount of Employee Payroll Check= Income Earned  - Federal and State withholding tax  - FICA…

Q: An employee receives an hourly rate of $22, with time and a half for all hours worked in excess of…

A: The entire amount of fixed earnings earned during a specific time period is referred to as a…

Q: Urban Window Company had gross wages of $248,000 during the week ended July 15. The amount of wages…

A:

Q: An employee receives an hourly rate of $25.00, with time and a half for all hours worked in excess…

A: Given the following information: An employee receives an hourly rate of $25.00 with time and a half…

Q: Employee Name Marital Status No. of W/H Allowances Total Earnings OASDI HI (b) FIT (c) SIT (d) CIT…

A: “Since you have asked multiple sub-parts, we will solve the first six sub-parts for you.  If you…

Q: Encore Records has two employees who are paid on the 1st and 15th of each month for the work they…

A: Basic data table: Gross Pay $1,000 Withold tax 10% CPP contribution 5.10% El contribution…

Q: The payroll of Ruth Ltd. for September 2020 is as follows (amounts in thousands): total payroll was…

A: Under double entry system of bookkeeping one account is debited and other is credited.  Assets and…

Q: Ehrlich Co. began business on January 2. Salaries were paid to employees on the last day of each…

A: Answer 1)

Q: Justin Matthews is a waiter at the Duluxe Lounge. In his first weekly pay in March, he earned…

A: Net take home pay means gross pay after deducting all the payroll taxes like federal income tax,…

Q: Kakarot Co. began business on January 2. Salaries were paid to employees on the last day of each…

A: Federal income tax withheld: It is the amount withheld from the employees’ earnings by way of…

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

A: Federal income taxes are imposed in USA. The income tax is calculated by implementing tax rate which…

Q: During the week ended June 15, Wiley Automotive's employees earned $2,650 of gross wages and had…

A:

Q: Greensburg Inc. had the following payroll for October 2020:               Employee Wages…

A: What are journal entries? It is the first step to record the financial transactions in the books of…

Q: Harriet Pandel, an employer, is subject to FICA taxes but exempt from FUTA and SUTA taxes. During…

A: FICA tax:   FICA tax refers to the Federal Insurance Contribution Act tax which is Country U law…

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: Based on the information below, Prepare the journal entry to record Regis’s (employer) payroll taxes…

A: 1). Journal Entry to record Regis's payroll taxes resulting from the Jan 8 payroll :- Date…

Q: Kinsella Inc. has a gross payroll of $13,500 for the pay period. The entire payroll is subject to…

A: Prepare journal entry to record wages and liabilites:

Q: Sheffield Consulting Inc's gross salaries for the biweekly period ended August 24 were $12,500.…

A: Salaries expenses include the following deduction = CPP Payable + EI payable  + income tax payable…

Q: a. On December 31, calculated the payroll, which indicates gross earnings for wages ($310,000),…

A: A journal entry refers to the recording of the business transactions and events in the books of…

Q: The payroll register for the Puhl Company for the week ended January 15th showed the following :…

A: The wages are the expenses of the company. The federal income tax withheld, roth IRA deductions,…

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

A: Payroll Tax Expense = FICA taxes payable + Federal unemployment taxes Payable + State unemployment…

Q: Francisco Company has 10 employees, each of whom earns $2,500 per month and is paid on the last day…

A: Introduction: Salary is a regular payment made by an employer to an employee based on the work and…

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

A: Please find the answers to the above questions below:

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

A: 1a.Prepare journal entry to record the payroll on December 30.