PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN: 9781337619783
Author: BIEG
Publisher: CENGAGE L
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Question
Chapter 3, Problem 15PB
a.
To determine
Complete Schedule B of Form 941 for the first quarter of Company H.
b.
To determine
List the due dates for each deposit in the first quarter.
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During the fourth quarter of 2019, there were seven biweekly paydays on Friday (October 4, 18; November 1, 15, 29;December 13, 27) for Quality Repairs. Using the forms supplied on pages 4-46 to 4-49, complete the following forthe fourth quarter:a. Complete the Federal Deposit Information Worksheets reflecting electronic deposits (monthly depositor).The employer’s phone number is (501) 555-7331. Federal deposit liability each pay, $677.68.b. Employer’s Quarterly Federal Tax Return, Form 941. The form is signed by you as president on January31, 2020.c. Employer’s Report of State Income Tax Withheld for the quarter, due on or before January 31, 2020.Quarterly Payroll DataTotal Earnings 5 Employees OASDI HI FIT SIT$18,750.00 $1,162.50 $271.88 $1,875.00 $1,312.50Employer’s OASDI $1,162.50Employer’s HI 271.88Federal deposit liability each pay 677.68
On December 31, 2019, Reuter Company has a balance of $98.75 in the FUTA taxes payable account. This representsthe employer’s liability for the fourth quarter taxes. Journalize the entry Reuter Company should make in January2020 to record the last transfer (payment) of FUTA taxes for 2019.
Parry Paint LLC started operations on January 1, 2019. It had the following payroll transactions during the
year.
Jan 15 - Paid an employee B. Vaughn gross pay of $2,000 for January 1-15 salary, calculated as
follows:
Deductions
FICA Medicare
Gross Pay
Net Pay
Income taxes
15%
FICA Social
Total
deductions
Security
6.2%
1.45%
$2,000
The company matches FICA deductions.
Required:
a. Calculate B. Vaughn's net pay and journalize the entries to record her payroll.
b. Prepare journal entries to record the above transactions. Show necessary calculations.
Chapter 3 Solutions
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Ch. 3 - Which of the following are covered by FICA...Ch. 3 - Prob. 2SSQCh. 3 - Prob. 3SSQCh. 3 - Lori Kinmark works as a jeweler for a local...Ch. 3 - _____1. Johnson Industries, a semiweekly...Ch. 3 - _____1. Employees FICA tax rates A. Severance pay...Ch. 3 - For social security purposes, what conditions must...Ch. 3 - Prob. 2QRCh. 3 - Prob. 3QRCh. 3 - Prob. 4QR
Ch. 3 - What are an employers responsibilities for FICA...Ch. 3 - Prob. 6QRCh. 3 - Prob. 7QRCh. 3 - Prob. 8QRCh. 3 - Prob. 9QRCh. 3 - Prob. 10QRCh. 3 - Prob. 11QRCh. 3 - Prob. 12QRCh. 3 - Prob. 13QRCh. 3 - Prob. 14QRCh. 3 - Prob. 15QRCh. 3 - During the year, employee Sean Matthews earned...Ch. 3 - In order to improve the cash flow of the company,...Ch. 3 - Prob. 3QDCh. 3 - Prob. 4QDCh. 3 - The biweekly taxable wages for the employees of...Ch. 3 - During 2019, Rachael Parkins, president of...Ch. 3 - Prob. 3PACh. 3 - Ken Gorman is a maitre d at Carmel Dinner Club. On...Ch. 3 - In 20-- the annual salaries paid each of the...Ch. 3 - Audrey Martin and Beth James are partners in the...Ch. 3 - Prob. 7PACh. 3 - Ralph Henwood was paid a salary of 64,600 during...Ch. 3 - Empty Fields Company pays its salaried employees...Ch. 3 - The monthly and hourly wage schedule for the...Ch. 3 - Prob. 11PACh. 3 - Prob. 12PACh. 3 - Prob. 13PACh. 3 - During the third calendar quarter of 20--, Bayview...Ch. 3 - Prob. 15PACh. 3 - Prob. 16PACh. 3 - Prob. 17PACh. 3 - Prob. 1PBCh. 3 - During 2019, Matti Conner, president of Maggert...Ch. 3 - Prob. 3PBCh. 3 - Moisa Evans is a maitre d at Red Rock Club. On...Ch. 3 - In 20-- the annual salaries paid each of the...Ch. 3 - Amanda Autry and Carley Wilson are partners in A ...Ch. 3 - Prob. 7PBCh. 3 - George Parker was paid a salary of 74,700 during...Ch. 3 - Prob. 9PBCh. 3 - The monthly and hourly wage schedule for the...Ch. 3 - Prob. 11PBCh. 3 - Prob. 12PBCh. 3 - Prob. 13PBCh. 3 - During the third calendar quarter of 20--, the...Ch. 3 - Prob. 15PBCh. 3 - Prob. 16PBCh. 3 - Prob. 17PBCh. 3 - Your assistant has just completed a rough draft of...Ch. 3 - Prob. 2CP
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