The payroll of Grich Company for September 2022 is as follows:   Total payroll was $960,000, of which $44,000 is exempt from Social Security tax because it represented amounts paid in excess of $147,000 to certain employees. The amount paid to employees in excess of $7,000 was $800,000. Income taxes in the amount of $180,000 were withheld, as was $18,000 in union dues. The state unemployment tax is 6%, but Grich Company is allowed a credit of 4% by the State for its unemployment experience. The federal unemployment tax is rate is 0.8% after the state credit. Also, assume that the current Social Security rate is 6.2% on an employee’s wages to $147,000 and the Medicare rate is 1.45%.   Prepare the necessary journal entries assuming the wages and salaries paid and the employer payroll taxes are recorded separately...

The payroll of Wildhorse Company for September 2025 is as follows. Total payroll was $458,000, of which $110,000 is exempt from Social Security tax because it represented amounts paid in excess of $142,800 to certain employees. The amount paid to employees in excess of $7,000 (the maximum for both federal and state unemployment taxes) was $363,000. Income taxes in the amount of $81,800 were withheld, as was $9,300 in union dues. The state unemployment tax is 3.5%, but Wildhorse Company is allowed a credit of 2.3% by the state for its unemployment experience. Also, assume that the current FICA tax is 7.65% on an employee's wages to $142,800 and 1.45% in excess of $142,800. The federal unemployment tax rate is 0.8% after state credit. Prepare the necessary journal entries if the wages and salaries paid and the employer payroll taxes are recorded separately. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are…

The State Unemployment Tax Act, better known as SUTA, is a form of payroll tax that all states require employers to pay for their employees. SUTA is a counterpart to FUTA, the federal unemployment insurance program. Complete the following step: Compute and record the employee's SUTA contributions (employees pay 0.06% on total gross pay). Note : Round your final answers to nearest cent. KIPLEY COMPANY, INC.Employee Payroll RegisterFor Period Ending January 8, 20--   EARNINGS DEDUCTIONS NET PAY Name Gross OASDI HI FIT SIT SUTA CIT SIMPLE Grp. Ins. Health Ins. Ck. No. Amount Carson, F. $700.00 $43.40 $10.15 $48.00 $21.49   $21.00 $20.00                 Wilson, W. 897.04 55.62 13.01 68.00 27.54   26.91 50.00                 Utley, H. 678.75 42.08 9.84 14.00 20.84   20.36 40.00                 Fife, L. 877.10 54.38 12.72 33.00 26.93   26.31 50.00                 Smith, L. 790.00 48.98 11.46 59.00 24.25   23.70 20.00                 Fay, G. 539.15 33.43 7.82 0.00 16.55…

Greensburg Inc. had the following payroll for October 2020:               Employee Wages                                           $90,000           Federal income tax withheld                          23,000           FICA                                                                 5,000           Health premiums deducted                             3,000           Salaries (included above)             subject federal unemployment             taxes                          90,000           Salaries (included above)             subject to state unemployment             taxes                          90,000      REQUIRED:    Present journal entries on October 31, 2020 to record: Accrual of the monthly payroll. Accrual of the employer's payroll tax. (Assume that the employer matches health premiums and the federal unemployment tax is 0.8%, and the state unemployment tax is 5.4%.)

The payroll of Swifty Company for September 2019 is as follows.Total payroll was $ 444,000, of which $ 120,000 is exempt from Social Security tax because it represented amounts paid in excess of $ 128,400 to certain employees. The amount paid to employees in excess of $ 7,000 (the maximum for both federal and state unemployment tax) was $ 401,000. Income taxes in the amount of $ 77,900 were withheld, as was $ 8,700 in union dues. The state unemployment tax is 3.5%, but Swifty Company is allowed a credit of 2.3% by the state for its unemployment experience. Also, assume that the current FICA tax is 7.65% on an employee’s wages to $ 128,400 and 1.45% in excess of $ 128,400. No employee for Swifty makes more than $ 135,000. The federal unemployment tax rate is 0.8% after state credit.Prepare the necessary journal entries if the wages and salaries paid and the employer payroll taxes are recorded separately. (Round answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No…

At the end of October, the payroll register for Garden Marbles Corporation contained the following totals: wages, $742,000; federal income taxes withheld, $189,768; state income taxes withheld, $31,272; Social Security tax withheld, $46,004; Medicare tax withheld, $10,759; medical insurance deductions, $25,740; and wages subject to unemployment taxes, $114,480. Determine the total and components of the (1) monthly payroll and (2) employer payroll expenses, assuming Social Security and Medicare taxes equal to the amount for employees, a federal unemployment insurance tax of 0.8 percent, a state unemployment tax of 5.4 percent, and medical insurance premiums for which the employer pays 80 percent of the cost

None

The payroll register of heritage co. Indicates $3900 of social security withheld and $975 of Medicare tax withheld on total salaries of $65,000 for the period. Earnings of $10,000 are subject to state and federal unemployment compensation taxes at the federal rate of .8% and the state rate of 5.4%

For the first week of 2022, Coby Co. pays wages of $6,000 and withholds $1,000 for federal income taxes and $400 for state income taxes. The combined FICA and Medicare tax rate is 7.65%. The FUTA rate is 0.8% and the SUTA rate is 5.4% Record the payroll. Record the payroll tax.

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%.