Daniel company has 10 employees who were paid the following wages during 1984. Tom-35,000 Samuel-175,000 Trudy-175,000 Gamy-80,000 Salmon75,000 Felix150,000 Goodman 45,000 Bruce-67,000 William-68,000 Capeman-75,000 the state unemployment tax is 5.4%. the federal unemployment tax is 0.6%. the maximum unemployment wages per employee are 7,000 for both the state and the federal government. Income tax is withheld at the rate of 22% for all employees who have annual wages over $50,000. If wages are under %50,000, the withholding rate is 15%. Daniel company is in a state that does not impose income taxes. Social security is imposed on both the employer and employee at the rate of 6.2% on the first $137,000 of wages. Medicare tax is imposed on both the employer and the employee at the rate of 1.45% on total wages. 1. Calculate the amount of payroll taxes paid by the employer, Daniel company. 2. Prepare the journal entry to record the payment of the payroll. 3. Prepare the journal entry to record the payroll tax expense at 12/31/1984, assuming the payroll taxes will be pain in 1985. In detail, please.

Toren Inc. employs one person to run its solar management company. The employee’s gross income for the month of May is $8,000. Payroll for the month of May is as follows: FICA Social Security tax rate at 6.2%, FICA Medicare tax rate at 1.45%, federal income tax of $440, state income tax of $80, health-care insurance premium of $210, and union dues of $50. The employee is responsible for covering 30% of his or her health insurance premium. A. Record the journal entry to recognize employee payroll for the month of May, dated May 31, 2017. Round your answers to the nearest whole dollar. If an amount box does not require an entry, leave it blank. May 31                                                               B. Record remittance of the employee's salary with cash on June 1. Round your answers to the nearest whole dollar. If an amount box does not require an entry, leave it blank. June 1

An employee earns $5,500 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $182 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $150 and contributes $75 to a retirement plan each month. What is the amount of net pay for the employee for the month of January? (Round your intermediate calculations to two decimal places.)

Less Nessman, owner of Flying Turkeys Corporation, has three employees who earn $500, $600, and $700, respectively. After 12 weeks how much has Less Nessman contributed for state and federal unemployment? Assume a state rate of 5.6% and a federal rate of .8%.

[The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee.    Gross Pay through August 31 Gross Pay for September a. $ 6,000 $ 1,500 b. 2,000 2,100 c. 132,900 9,500   Exercise 11-9 (Algo) Payroll-related journal entries LO P3 Assuming situation (a), prepare the employer’s September 30 journal entry to record the employer’s payroll taxes expense and its related liabilities.     Record the employer's September 30 payroll taxes expense and its related liabilities. Note: Enter debits before credits.         Date General Journal Debit Credit September 30 Payroll taxes expense       FICA—Social security taxes payable       FICA—Medicare taxes payable       Federal…

According to a summary of the payroll of PJW Co., $380,500 in earnings were subject to the 7.7% FICA tax. Also, $62,783 in earnings were subject to state and federal unemployment taxes. Round your answers to the nearest cent. a.  Calculate the employer's payroll taxes, using the following rates: state unemployment, 4.4%; federal unemployment, 1.1%.

Runner Company incurred the following amounts for their most recent pay period for employee gross wages totaling $10,000.    Federal income tax withholding $ 2,400 State income tax withholding $ 1,100 Federal unemployment tax $ 800 State unemployment tax $ 1,200   The FICA tax rate is 7.65% and assume that all wages are subject to the FICA tax.  How much was employee net pay total for the payroll period? Group of answer choices $ 3,735

Zolnick Enterprises has two hourly employees—Kelly and Jon. Both employees earn overtime at the rate of 1.5 times the hourly rate for hours worked in excess of 40 per week. Assume the Social Security tax rate is 6 percent on the first $110,000 of wages, and the Medicare tax rate is 1.5 percent on all earnings. Federal income tax withheld for Kelly and Jon was $270 and $228, respectively, for the first week of January. The following information is for the first week in January Year 1.  Employee Hours Worked Wage Rate per Hour Kelly 54 $ 20 Jon 49 $ 25  Requireda. Calculate the gross pay for each employee for the week.b. Calculate the net pay for each employee for the week.c. Prepare the general journal entry to record payment of the wages.

Urban Window Company had gross wages of $310,000 during the week ended July 15. The amount of wages subject to social security tax was $310,000, while the amount of wages subject to federal and state unemployment taxes was $35,000. Tax rates are as follows: Social security 6.0% Medicare 1.5% State unemployment 5.4% Federal unemployment 0.6%   The total amount withheld from employee wages for federal taxes was $47,000.   Required: A. Journalize the entry to record the payroll for the week of July 15.* B. Journalize the entry to record the payroll tax expense incurred for the week of July 15.*   *Refer to the Chart of Accounts for exact wording of account titles.

William Corp. pays its employees every two weeks. Employee wages earned over a two-week period is $250,000. All wages are subject to social security and Medicare taxes, while $50,000 of wages are subject to federal and state unemployment taxes. Tax rates are the following: • Social security tax 6.0%• Medicare tax 1.5%• State unemployment compensation tax 5.4%• Federal unemployment compensation tax 0.8% Additionally, the total amount withheld from wages for federal income taxes is $75,000 and the total amount withheld for state income taxes is $12,500. ________________________________________ When William Corp. records the journal entry to recognize payroll every two weeks, Employees’ State Income Tax Payable will be:   Question 24 options:   Debited for $12,500   Credited for $75,000   Debited for $75,000   Neither debited nor credited   Credited for $12,500