Calculation and Journal Entry for Employer Payroll Taxes Earnings for several employees for the week ended March 12, 20--, are as follows:     Taxable Earnings Employee Name Current Earnings Unemployment Compensation Social Security Aus, Glenn E. $700   $200         $700   Diaz, Charles K. 350   350         350   Knapp, Carol S. 1,200   —         1,200   Mueller, Deborah F. 830   125         830   Yeager, Jackie R. 920   35         920   1.  Calculate the employer’s payroll taxes expense for the week ended March 12, 20--, assuming that FUTA tax is 0.6%, SUTA tax is 5.4%, Social Security tax is 6.2%, and Medicare tax is 1.45%.

Journalize the following data taken from the payroll register of CopyMasters as of April 15, 20—. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. Regular earnings $ 5,715.00 Overtime earnings   790.00 Deductions:           Federal income tax   625.00       Social Security tax   403.31       Medicare tax   94.32       Pension plan   80.00       Health insurance premiums   270.00       United Way contributions   100.00    Journalize the following data taken from the payroll register of CopyMasters as of April 15, 20—. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. Page:     DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT   1 20-- Apr. 15 Wages and salaries expense          1 2   Employee federal income tax payable        625 2 3   Social Security tax payable        403.31 3 4   Medicare tax payable        94.32 4 5…

Calculation and Journal Entry for Employer Payroll Taxes 1.  Calculate the employer's payroll taxes expense. Round your answer to the nearest cent. 2.   Prepare the journal entry to record the employer's payroll taxes expense for the week ended July 15 of the current year. Round your answers to the nearest cent, if required. If an amount box does not require an entry, leave it blank. Portions of the payroll register for Barney’s Bagels for the week ended July 15 are shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both of which are levied on the first $7,000 of earnings. The Social Security tax rate is 6.2% on the first $118,500 of earnings. The Medicare rate is 1.45% on gross earnings. Barney’s BagelsPayroll Register   Total Taxable Earnings of All Employees Total Earnings Unemployment Compensation Social Security $12,200 $10,500 $12,200

Employee Earnings Record 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 earnings tax at the rate of 1%, both applied to gross pay. Bacon and Leung have $15 withheld and Cole and Hicks have $10 withheld for health insurance. Bacon and Leung have $20 withheld to be invested in the travel agency’s credit union. Cole has $38.75…

On the printed "Worksheet" page, journalize the transactions the information from the "Transactions" page.

Subject:

Assume that the payroll records of Bramble Oil Company provided the following information for the weekly payroll ended November 30, 2020. Employee T. King T. Binion N.Cole C. Hennesey Hours Worked Date 44 46 Nov. 30 40 Show Transcribed Text Nov. 30 42 Your answer is partially correct. Hourly Pay Rate $69 Salaries and Wages Expense FICA Taxes Payable Account Titles and Explanation Federal Income Taxes Payable Union Dues Payable Salaries and Wages Payable (To record weekly payroll) Payroll Tax Expense 34 FICA Taxes Payable 39 Additional information: All employees are paid overtime at time and a half for hours worked in excess of 40 per week. The FICA tax rate is 7.65% for the first $132,900 of each employee's annual earnings and 1.45% on any earnings over $132,900. The employer pays unemployment taxes of 6.0% (5.4% for state and .6% for federal) on the first $7,000 of each employee's annual earnings. 44 State Income Taxes Payable Federal Income Taxes Payable Federal Income Tax Prepare…

-prepare the journal entry to record the payroll tax expense and fringe benefit expense for Webber Packing Company for the week

Instructions The payroll register of Heritage Co. indicates $13,320 of social security withheld and $3,330 of Medicare tax withheld on total salaries of $222,000 for the period. Federal withholding for the period totaled $43,180. Retirement savings withheld from employee paychecks were $2,040 for the period. Journalize the entry to record the period's payroll. General Journal On December 31, journalize the entry to record the period's payroll. General Journal Instructions How does grading work? DATE 1 Dec. 31 Salaries Expense 2 3 DESCRIPTION Social Security Tax Payable Medicare Tax Payable Employees State Income Tax Payable 4 5 Employees Federal Income Tax Payable 6 Retirement Savings Deductions Payable Check My Work 1 more Check My Work uses remaining. JOURNAL Score: 49/73 POST. REF. DEBIT CREDIT Shaded cells have feedback. PAGE 1 ACCOUNTING EQUATION ASSETS LIABILITIES EQUITY 13,320.00 ↑ 3,330.00 ✓ ↑ 2,040.00 ↑ Next>

Assuming no employees are subject to ceilings for their earnings, Harris Company has the following information for the pay period of January 15-31. Use this information to answer the question that follow. Gross payroll Social security rate Medicare rate Federal income tax withheld Federal unemployment tax rate State unemployment tax rate Assuming that all wages are subject to federal and state unemployment taxes, the employer's payroll tax expense would be a. $2,870 b. $1,370 c. $750 Od. $620 $10,000 6.0% 1.5% $1,800 0.8% 5.4%