The payroll register of Seaside Architecture Company indicates $980 of social security taxes and $252 of Medicare taxes withheld on total salaries of $17,000 for the period. Federal withholding for the period totaled $3,245. Journalize the entry for the payroll. If an amount box does not require an entry, leave it blank.

The payroll register of Seaside Architecture Company indicates $980 of social security taxes and $252 of Medicare taxes withheld on total salaries of $17,000 for the period. Federal withholding for the period totaled $3,245. Journalize the entry for the payroll. If an amount box does not require an entry, leave it blank.

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter11: Current Liabilities And Payroll

Section: Chapter Questions

Problem 2PA: The following information about the payroll for the week ended December 30 was obtained from the...

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The following information about the payroll for the week ended December 30 was obtained from the records of Qualitech Co.: Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.8% Instructions 1. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the following entries: a. December 30, to record the payroll. b. December 30, to record the employers payroll taxes on the payroll to be paid on December 31. Of the total payroll for the last week of the year, 35,000 is subject to unemployment compensation taxes. 2. Assuming that the payroll for the last week of the year is to be paid on January 5 of the following fiscal year, journalize the following entries: a. December 30, to record the payroll. b. January 5, to record the employers payroll taxes on the payroll to be paid on January 5. Because it is a new fiscal year, all 675,000 in salaries is subject to unemployment compensation taxes.
The payroll register of Seaside Architecture Company indicates $980 of Social Security and $255 of Medicare tax withheld on total salaries of $17,000 for the period. Federal withholding for the period totaled $3,260. Prepare the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.
The payroll register of Patel Engineering Co. indicates $1,440 of social security withheld and $360 of Medicare tax withheld on total salaries of $24,000 for the period. Federal withholding for the period totaled $4,320. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank. The payroll register of Patel Engineering Co. indicates $1,350 of social security withheld and $337.50 of Medicare tax withheld on total salaries of $22,500 for the period. Earnings of $6,300 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal places.
The payroll register of Chen Engineering Co. indicates $1,380 of social security withheld and $345 of Medicare tax withheld on total salaries of $23,000 for the period. Federal withholding for the period totaled $4,140. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.
The payroll register of Clapton Co. indicates $11,340 of social security withheld and $2,835 of Medicare tax withheld on total salaries of $189,000 for the period. Federal withholding for the period totaled $37,420. Provide the journal entry for the period's payroll. (2) The payroll register of Clapton Co. indicates $11,340 of social security withheld and $2,835 of Medicare tax withheld on total salaries of $189,000 for the period. Earnings of $19,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.6% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period.
The payroll register of Seaside Architecture Company indicates $990 of social security and $252 of Medicare tax withheld on total salaries of $17,000 for the period. Federal withholding for the period totaled $3,250. Required: Prepare the journal entry for the period's payroll. Refer to the Chart of Accounts for exact wording of account titles.
The payroll register of Seaside Architecture Company indicates $990 of social security taxes and $251 of Medicare taxes withheld on total salaries of $15,500 for the period. Federal withholding for the period totaled $3,245. Journalize the entry for the payroll. If an amount box does not require an entry, leave it blank. 00000 ?
. The payroll register of Seaside Architecture Company indicates $970 of social security and $257 of Medicare laxwithheld un tolal salaries of $16,500 for the period. Federal withholding for the period tolaled $4,235. Prepare thejournal entry for the period's payroll.
The payroll register of Chen Heritage Co. indicates $2,220 of social security withheld and $555 of Medicare tax withheld on total salaries of $37,000 for the period. Federal withholding for the period totaled $6,290. Retirement savings withheld from employee paychecks were $2,650 for the period. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.
The payroll register of Heritage Co. indicates $4,800 of social security withheld and $1,200 of Medicare tax withheld on total salaries of $80,000 for the period. Federal withholding for the period totaled $17,540. Retirement savings withheld from employee paychecks were $3,200 for the period. Journalize the entry to record the period’s payroll. If an amount box does not require an entry, leave it blank.
The payroll register of Seaside Architecture Company indicates $820 of social security and $216 of Medicare tax withheld on total salaries of $14,300 for the period. Assume earnings subject to state and federal unemployment compensation taxes are $5,100 at the federal rate of 0.8% and state rate of 5.4%. Prepare the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. If required, round your answers to two decimal places.
The payroll register of Heritage Co. indicates $4,200 of social security withheld and $1,050 of Medicare tax withheld on total salaries of $70,000 for the period. Federal withholding for the period totaled $15,350. Retirement savings withheld from employee paychecks were $2,800 for the period. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank. Salaries Expense 0 Social Security Tax Payable 0 Medicare Tax Payable 0 Employees Federal Income Tax Payable 0 Retirement Savings Deductions Payable 0 Salaries Payable 0