KA  Payroll Related Accounting       Assume a weekly payroll of $30,000 entirely subject to F.I.C.A. and Medicare (7.65%) taxes, with income tax withholding of $3,960. Write the journal entry for the company to record the salaries and wages paid and the employee payroll deductions        Assume a weekly payroll of $80,000 entirely subject to F.I.C.A. and Medicare (7.65%) taxes, federal unemployment tax (0.8%) and state unemployment tax (.6%). Write the journal entry to record the employers’ payroll taxes

The following totals for the month of April were taken from the payroll register of Concord Company. Salaries and wages FICA taxes withheld Income taxes withheld Medical insurance deductions Federal unemployment taxes State unemployment taxes $72500 5514 15400 2610 194 1301 The entry to record the Payroll Tax Expense would include a O credit to Salaries and Wages Payable. O debit to Federal Unemployment Payable. credit to FICA Taxes Payable. O credit to Payroll Tax Expense. 99+

The payroll register of Heritage Co. indicates $1,500 of social security withheld and $375 of Medicare tax withheld on total salaries of $25,000 for the period. Federal withholding for the period totaled $4,250. Retirement savings withheld from employee paychecks were $2,500 for the period. Journalize the entry to record the period’s payroll. If an amount box does not require an entry, leave it blank. blank Account Debit Credit blank

A6  please help....

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

Payroll Tax Entries According to a summary of the payroll of Mountain Streaming Co., $582,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $19,000 was subject to state and federal unemployment taxes. a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 4.2%; federal unemployment, 0.8%. $ b. Journalize the entry to record the accrual of payroll taxes. If an amount box does not require an entry, leave it blank. ▼

Assuming no employees are subject to ceilings for their earnings, Harris Company has the following information for the pay period of January 15–31. Gross payroll $18,729   Federal income tax withheld $3,167 Social security rate 6%   Federal unemployment tax rate 0.8% Medicare rate 1.5%   State unemployment tax rate 5.4% Salaries Payable would be recorded in the amount of a.$12,996.13 b.$14,400.80 c.$14,157.33 d.$18,729.00

The following totals for the month of June were taken from the payroll register of Arcon Company: Salaries expense $13,000.00 Social security and Medicare taxes withheld 975.00 Income taxes withheld 292.00 Retirement savings 590.00 The entry to record the payment of net pay would include a a.credit to Salaries Payable for $11,143.00. b.debit to Salaries Payable for $13,000.00. c.credit to Salaries Expense for $11,143.00. d.debit to Salaries Payable for $11,143.00.

Journalizing Payroll Transactions 1.  Determine the amount of Social Security and Medicare taxes to be withheld. If required, round your answers to the nearest cent. 2.  Record the journal entry for the payroll, crediting Cash for the net pay. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. On December 31, the payroll register of Hamstreet Associates indicated the following information: Wages and Salaries Expense $7,900 Employee Federal Income Tax Payable 900 United Way Contributions Payable 190 Earnings subject to Social Security tax 7,200   Payroll Withholdings     1.  Determine the amount of Social Security and Medicare taxes to be withheld. If required, round your answers to the nearest cent. Social Security Tax $fill in the blank 6752ad03b03cf89_1 Medicare Tax $fill in the blank 6752ad03b03cf89_2   General Journal     2.  Record the journal entry for the payroll,…

XYZ Company is processing payroll for the week ending January 9th. Employee earnings total $5,000.  Federal income tax withheld from employee paychecks totaled $1,100. The social security tax rate is 6%, the Medicare tax rate is 1.5%, the state unemployment tax rate is 5.4% and the federal unemployment tax rate is .8%. a) Journalize the payroll entry for the week. DATE   Debit Credit X/X                                         b) Journalize the payroll tax entry for the week. DATE   Debit Credit X/X