The following information about the payroll for the week ended December 30 was obtained from the records of Boltz Co.:   Salaries:     Deductions:     Sales salaries $171,000     Income tax withheld $61,952   Warehouse salaries 94,000     U.S. savings bonds 7,744   Office salaries 87,000     Group insurance 6,336   $352,000                                 Tax rates assumed:   Social security, 6%   Medicare, 1.5%   State unemployment (employer only), 5.4%   Federal unemployment (employer only), 0.8%   Required: If an amount box does not require an entry, leave it blank. 1a.  Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the entry on December 30 to record the payroll. Date Account Debit Credit Dec. 30 Sales Salaries Expense        Warehouse Salaries Expense        Office Salaries Expense        Employees Income Tax Payable        Social Security Tax Payable        Medicare Tax Payable        Bond Deductions Payable        Group Insurance Payable        Salaries Payable

The payroll register of Seaside Architecture Company indicates $840 of social security and $213 of Medicare tax withheld on total salaries of $14,200 for the period. Assume earnings subject to state and federal unemployment compensation taxes are $4,900 at the federal rate of 0.80% and state rate of 5.40%. Required:   Prepare the journal entry to record the payroll tax expense for the period. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to two decimal places. CHART OF ACCOUNTS Seaside Architecture Company General Ledger   ASSETS 110 Cash 111 Accounts Receivable 112 Interest Receivable 113 Notes Receivable 115 Inventory 116 Supplies 118 Prepaid Insurance 120 Land 123 Building 124 Accumulated Depreciation-Building 125 Office Equipment 126 Accumulated Depreciation-Office Equipment   LIABILITIES 210 Accounts Payable 213 Interest Payable 214 Notes Payable 221 Salaries Payable 222…

Payroll tax entries   Instructions Chart of Accounts First Question Journal       Instructions     According to a summary of the payroll of Guthrie Co., $770,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $42,000 was subject to state and federal unemployment taxes. Required: a. Compute the employer’s payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.6%. b. On December 31, journalize the entry to record the accrual of payroll taxes. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.     Chart of Accounts     CHART OF ACCOUNTS Guthrie Co. General Ledger   ASSETS 110 Cash 111 Accounts Receivable 112 Interest…

Instructions The payroll register of Heritage Co. indicates $13,320 of social security withheld and $3,330 of Medicare tax withheld on total salaries of $222,000 for the period. Federal withholding for the period totaled $43,180. Retirement savings withheld from employee paychecks were $2,040 for the period. Journalize the entry to record the period's payroll. General Journal On December 31, journalize the entry to record the period's payroll. General Journal Instructions How does grading work? DATE 1 Dec. 31 Salaries Expense 2 3 DESCRIPTION Social Security Tax Payable Medicare Tax Payable Employees State Income Tax Payable 4 5 Employees Federal Income Tax Payable 6 Retirement Savings Deductions Payable Check My Work 1 more Check My Work uses remaining. JOURNAL Score: 49/73 POST. REF. DEBIT CREDIT Shaded cells have feedback. PAGE 1 ACCOUNTING EQUATION ASSETS LIABILITIES EQUITY 13,320.00 ↑ 3,330.00 ✓ ↑ 2,040.00 ↑ Next>

ournalize Payroll Tax The payroll register of Patel Heritage Co indicates $1,986 of social security withheld and $496.50 of Medicare tax withheld on total salaries of $33,100 for the period. Earnings of $9,600 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% 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.     Payroll Tax Expense Payroll Tax Expense     Social Security Tax Payable Social Security Tax Payable     Medicare Tax Payable Medicare Tax Payable     State Unemployment Tax Payable State Unemployment Tax Payable     Federal Unemployment Tax Payable Federal Unemployment Tax Payable

Journalize Period Payroll The payroll register of Patel Heritage Co. indicates $1,200 of social security withheld and $300 of Medicare tax withheld on total salaries of $20,000 for the period. Federal withholding for the period totaled $3,600. 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. _________                     __________     _______________                   Complete the chart above as your journal.

Journalize Payroll Tax The payroll register of Chen Heritage Co indicates $1,950 of social security withheld and $487.50 of Medicare tax withheld on total salaries of $32,500 for the period. Earnings of $9,800 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% 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.

Attached is the question and information for question 1a and 2a part 2b

Payroll Tax Entries According to a summary of the payroll of Guthrie Co., $587,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $19,000 was subject to state and federal unemployment taxes. Question Content Area a.  Compute the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.6%.$fill in the blank 04825efc801a047_1   Question Content Area b.  Journalize the entry to record the accrual of payroll taxes. If an amount box does not require an entry, leave it blank.

Bart Consulting Firm has the following payroll information for the week ended March 20th: Name Earnings at the end of the previous week Sun. Mon. Tues. Wed. Thurs. Fri. Sat. Pay Rate Federal Income Tax Lauren, F 14,400   8 8 8 8 8   30.00 222.52 Baylor, M 12,000     8 8 8 8 8 25.00 178.55 Lims, T 7,200   8 8 8 8 8   15.00 78.00 Tate, C 6,000   8 8 8 8 8   15.00 62.00 Musker, J 4,320     8   8   8 15.00 15.00 Mako, W 3,888   8   8     8 13.50 11.00 Additional Information: Taxable earnings for Social Security are based on the first $132,900. Taxable earnings for Medicare are based on all earnings. Taxable earnings for federal and state unemployment are based on the first $7,000. Employees are paid time-and-a-half for work in excess of 40 hours per week. Round amounts to the nearest penny. What you must do: Complete the attached Payroll Register (Excel Spreadsheet). Use the following information to help: The Social Security tax rate is 6.2 percent. The Medicare tax…