Urban Window Company had gross wages of $360,000 during the week ended July 15. The amount of wages subject to social security tax was $360,000, while the amount of wages subject to federal and state unemployment taxes was $30,000. 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 $48,000.

CALCULATION AND JOURNAL ENTRY FOR EMPLOYER PAYROLL TAXES 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 $128,400 of earnings. The Medicare rate is 1.45% on gross earnings.     Calculate the employer's payroll taxes expense and prepare thejournal entry to record the employer'spayroll taxes expense for the week ended July 15of the current year.

Nov. 30: Journalized the monthly payroll for November, based on the following data. Description entries available are:  Cash, Medicare Tax Payable, No Entry Required, Sales Salaries Expenses, Sales Salaries Payable. Salaries   Deductions Sales salaries $135,000   Federal income tax withheld $39,266 Office salaries 77,250   Social security tax withheld 12,735   $212,250   Medicare tax withheld 3,184 Unemployment tax rates:   State unemployment 5.4% Federal unemployment 0.6% Amount subject to unemployment taxes:   State unemployment $5,000 Federal unemployment 5,000   Nov. 30: Journalized the employer's payroll taxes on the payroll. Description Debit Credit                                       Description Debit Credit                                 Dec. 14: Journalized the payment of the September 15 note at maturity. Description Debit Credit               Dec. 31: The pension cost for…

Wallace Corporation summarizes the following information from its weekly payroll records during April. Type of Salary Gross Pay F.I.C.A. Tax Federal Income Tax State Income Tax Net Pay Office Staff $80,000 $6,160 $5,621 $2,000 $63,219   What amount should be debited to salaries expense for the month of April?

Compute the net pay for each employee using the federal income tax withholding table included. Assume that FICA Social Security tax is 6.2% on a wage base limit of $142,800, Medicare is 1.45% on all earnings, the payroll is paid biweekly, and no state income tax applies. (Round each computation to the nearest cent as needed.) View the employee information. Compute the net pay for each employee. View the biweekly payroll period percentage method withholding chart. Li Kan Isabel Poland Gross earnings for the current pay period Deductions for employee withholding taxes - BIWEEKLY Payroll Period Percentage Method Withholding Chart STANDARD Withholding Rate Schedules Single or Married Filing Separately of the amount The tentative amount to Plus this withhold is: percentage-exceeds— that the Adjusted Wage Total deductions Net pay Adjusted wage amount is at least $0, but less than $483 $ 0.00 0% $ Adjusted wage amount is at least $483, but less than $865 $ 0.00 10% $ 483 Adjusted wage amount…

The following information about the payroll for the week ended December 30 was obtained from the records of Boltz Co.: Salaries:   Deductions:   Sales salaries $325,000 Income tax withheld $119,000 Warehouse salaries 196,000 U.S. savings bonds 14,344 Office salaries 131,000 Group insurance 11,736   $652,000               Tax rates assumed: Social security 6% State unemployment (employer only) 5.4% Medicare 1.5% Federal unemployment (employer only) 0.8%     Required: 1. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the following entries (refer to the Chart of Accounts for exact wording of account titles):   a. December 30, to record the payroll.   b. December 30, to record the employer’s payroll taxes on the payroll to be paid on December 31. Of the total payroll for the last week of the year, $44,000 is subject to unemployment compensation taxes. 2. Assuming that the payroll for the last…

An employee receives an hourly wage rate of $18, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 45; federal income tax withheld, $349; social security tax rate, 6.0%; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid to the employee? Select the correct answer. $442 $855 $1,151 $1,207

Widmer Company had gross wages of $309,000 during the week ended June 17. The amount of wages subject to social security tax was $278,100, while the amount of wages subject to federal and state unemployment taxes was $39,000. Tax rates are as follows: Line Item Description Percentage Social security 6.0% Medicare 1.5% State unemployment 5.4% Federal unemployment 0.8% The total amount withheld from employee wages for federal taxes was $61,800. If an amount box does not require an entry, leave it blank. If required, round answers to two decimal places. Question Content Area a.  Journalize the entry to record the payroll for the week of June 17. Date Account Debit Credit June 7                                         Question Content Area b.  Journalize the entry to record the payroll tax expense incurred for the week of June 17. Date Account Debit Credit June 7

A company's payroll records report $3,460 of gross pay and $484 of federal income tax withholding for an employee for the weekly pay period. Compute this employee's FICA Social Security tax (6.2%), FICA Medicare tax (1.45%), state income tax (1.0%), and net pay for the current pay period. Note: Round your final answers to 2 decimal places. Gross pay FICA Social Security tax deduction FICA Medicare tax deduction Federal income tax deduction State income tax deduction Total deductions Net pay

Pls help in detailed way and correct plss stepwise.