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 firm's fiscal year. The last quarter begins on April 1, 20--. Narrative of Transactions: Apr. 1.   Paid the treasurer of the union the amount of union dues withheld from workers' earnings during March.   15.   Payroll: $6,105. All wages and salaries taxable. Withheld $565 for federal income taxes, $107.32 for state income taxes, and $50 for union dues.   15.   Paid the treasurer of the state the amount of state income taxes withheld from workers' earnings during the first quarter.   15.   Electronically transferred funds to remove the liability for FICA taxes and employees' federal income taxes withheld on the March payrolls.   29.   Payroll: $5,850. All wages and salaries taxable. Withheld $509 for federal income taxes, $128.90 for state income taxes, and $55 for union dues.   29.   Filed the Employer's Quarterly Federal Tax Return (Form 941) for the period ended March 31. No journal entry is required, since the FICA taxes and federal income taxes withheld have been timely paid.   29.   Filed the state contribution return for the quarter ended March 31 and paid the amount to the state unemployment compensation fund. May 2.   Paid the treasurer of the union the amount of union dues withheld from workers' earnings during April.   13.   Payroll: $5,810. All wages and salaries taxable. Withheld $507 for federal income taxes, $125.05 for state income taxes, and $55 for union dues.   16.   Electronically transferred funds to remove the liability for FICA taxes and federal income taxes withheld on the April payrolls.   31.   Payroll: $6,060. All wages and salaries taxable. Withheld $533 for federal income taxes, $119.00 for state income taxes, and $50 for union dues. June 3.   Paid the treasurer of the union the amount of union dues withheld from workers' earnings during May.   15.   Payroll: $6,380. All wages and salaries taxable, except only $5,000 is taxable under FUTA and SUTA. Withheld $549 for federal income taxes, $128.70 for state income taxes, and $50 for union dues.   15.   Electronically transferred funds to remove the liability for FICA taxes and federal income taxes withheld on the May payrolls.   30.   Payroll: $6,250. All wages and salaries taxable, except only $4,770 is taxable under FUTA and SUTA. Withheld $538 for federal income taxes, $127.60 for state income taxes, and $50 for union dues.   The following are the account balances forwarded as of April 1: (1) Union Due Payable: $100 (2) Employees SIT Payable: $546.92 (3) FICA Taxes Payable - OASDI: $1,068.88 (4) FICA Taxes Payable - HI: $249.98 (5) Employees FIT Payable: $1,124.00 (6) FUTA Taxes Payable: $149.16 (7) SUTA Taxes Payable: $571.78 (8) Cash: $57,673.56 (9) Wages and Salaries: $71,360.00 (10) Payroll taxes: $6,846.74 Note: The SUTA tax rate is 2.3%. Analyze and journalize the transactions described in the narrative above. If an amount box does not require an entry, leave it blank. If required, round your answers to the nearest cent.

Journalize each of the payroll transactions listed below. Post all entries except the last two to the appropriate general ledger accounts. The journal page and the ledger accounts are supplied below. The balances listed in the general ledger accounts for Cash, FUTA Taxes Payable, SUTA Taxes Payable, Employees SIT Payable, Wages and Salaries, and Payroll Taxes are the results of all payroll transactions for the first quarter, not including the last pay of the quarter. The balances in FICA Taxes Payable—OASDI, FICA Taxes Payable—HI, and Employees FIT Payable are the amounts due from the March 15 payroll. March 31, 20--: Paid total wages of $9,350.00. These are the wages for the last semimonthly pay of March. All of this amount is taxable under FICA (OASDI and HI). In addition, withhold $1,175 for federal income taxes and $102.03 for state income taxes. These are the only deductions made from the employees' wages. March 31, 20--: Record the employer's payroll taxes for the last pay in…

The payroll register of Seaside Architecture Company indicates $920 of social security and $256 of Medicare tax withheld on total salaries of $15,000 for the period. Federal withholding for the period totaled $3,260. Required: Prepare the journal entry for the period's payroll. Refer to the Chart of Accounts for exact wording of account titles. Prepare the journal entry for the period's payroll on December 31. Refer to the Chart of Accounts for exact wording of account titles.

Selected information from the payroll register of Barbara's Stables for the week ended September 28, 20--, is as follows: Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% of gross earnings, FUTA tax is 0.8%, and SUTA tax is 5.4% each on the first $7,000 of earnings.   Cumulative Pay Current Taxable Earnings Employee Name Before CurrentEarnings GrossPay UnemploymentCompensation SocialSecurity Carlosi, Peggy $ 84,240        $2,350        Sanchez, Carmela 81,900        2,100        Delaney, Roger 109,800        3,320        Weitz, Alana 6,300        1,100        Dunhill, Craig 6,800        1,000        Bella, Stephen 42,330        1,850

The following information about the weekly payroll was obtained from the records of Boltz Co.: Salaries: Sales salaries Deductions: $540,000 Income tax withheld $160,000 Warehouse salaries 155,000 U.S. savings bonds 10,500 Office salaries 85,000 Group insurance $780,000 9,000 Tax rates assumed: Social security 6% State unemployment (employer only) 5.4% Medicare 1.5% Federal unemployment (employer only) 0.8% Required: 1. Assuming that the payroll related to the first full week of the year and was paid on January 7, journalize the following entries: a. January 7, to record the payroll. b. January 7, to record the employer's payroll taxes on the payroll for the first week of the year. Since it is a new fiscal year, all $780,000 in salaries is subject to unemployment compensation taxes. 2. Assuming that the payroll related to the last week of the year and was paid on December 31, journalize the following entries: a. December 31, to record the payroll. b. December 31, to record the…

Wage and Tax Statement Data on Employer FICA Tax Ehrlich Co. began business on January 2, 20Y8. Salaries were paid to employees on the last day of each month, and social security tax, Medicare tax, and federal income tax were withheld in the required amounts. An employee who is hired in the middle of the month receives half the monthly salary for that month. All required payroll tax reports were filed, and the correct amount of payroll taxes was remitted by the company for the calendar year. Early in 20Y9, before the Wage and Tax Statements (Form W-2) could be prepared for distribution to employees and for filing with the Social Security Administration, the employees' earnings records were inadvertently destroyed. None of the employees resigned or were discharged during the year, and there were no changes in salary rates. The social security tax was withheld at the rate of 6.0% and Medicare tax at the rate of 1.5%. Data on dates of employment, salary rates, and employees' income taxes…

Payroll Register and Payroll Journal Entry Mary Losch operates a travel agency called Mary’s Luxury Travel. She has five employees, all of whom are paid on a weekly basis. The travel agency uses a payroll register, individual employee earnings records, and a general journal. Mary’s Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8-4 in the text. The payroll data for each employee for the week ended March 22, 20—, are given. Employees are paid 1½ times the regular rate for working over 40 hours a week. Name No. ofAllowances MaritalStatus Total HoursWorked Mar. 16–22 Rate Total EarningsJan. 1–Mar. 15 Bacon, Andrea 4 M 44 $14.00 $6,300.00   Cole, Andrew 1 S 40 15.00 6,150.00   Hicks, Melvin 3 M 44 13.50 5,805.00   Leung, Cara 1 S 36 14.00 5,600.00   Melling, Melissa 2 M 40 14.50 5,945.00   Social Security tax is withheld from the first $128,400 of earnings at the rate of 6.2%. Medicare tax is withheld at the rate of 1.45%, and city…