Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable. The table shows payroll liabilities, from the given data.

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Answer 1

Question

Chapter 9, Problem 11E

a

To determine

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The table shows payroll liabilities, from the given data.

b

To determine

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The computation of FICA social security, Medicare taxes, and FUTA and SUTA taxes for the company.

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A company's payroll records report $3,210 of gross pay and $434 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 40.30 $ 40.30 -40.30

CALCULATING PAYROLL TAXES EXPENSE AND PREPARING JOURNALENTRY Selected information from the payroll register of Ebeling's Dairyfor the week ended July 7, 20--, is shown below. The SUTA tax rate is5.4%, and the FUTA tax rate is 0.6%, both on the first $7,000 of earnings.Social Security tax on the employer is 6.2% on the first $128,400 ofearnings, and Medicare tax is 1.45% on gross earnings. REQUIRED1. Calculate the total employer payroll taxes for these employees.2. Prepare the journal entry to record the employer payroll taxes asof July 7, 20--

ces Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 5.4%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees. Name Dali Trey Kiesha Chee Employee Tax Rate Dali Trey Kiesha Chee In addition to gross pay, the company must pay one-half of the $82 per employee weekly health insurance; each employee pays the remaining one-half. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. 1) Employees' FICA Withholdings for Social Security Earnings Subject to Tax Employee Required: Compute the following for the week ended August 25. Note: Round your Intermediate calculations and final answers to 2 decimal places. Tax…

Answer 2

Question

Chapter 9, Problem 11E

a

To determine

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The table shows payroll liabilities, from the given data.

b

To determine

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The computation of FICA social security, Medicare taxes, and FUTA and SUTA taxes for the company.

Expert Solution & Answer

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Answer 3

Question

Chapter 9, Problem 11E

a

To determine

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The table shows payroll liabilities, from the given data.

b

To determine

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The computation of FICA social security, Medicare taxes, and FUTA and SUTA taxes for the company.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 4

Question

Chapter 9, Problem 11E

a

To determine

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The table shows payroll liabilities, from the given data.

b

To determine

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The computation of FICA social security, Medicare taxes, and FUTA and SUTA taxes for the company.

Expert Solution & Answer

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Answer 5

Chapter 9, Problem 11E

a

To determine

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The table shows payroll liabilities, from the given data.

b

To determine

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The computation of FICA social security, Medicare taxes, and FUTA and SUTA taxes for the company.

Answer 6

Chapter 9, Problem 11E

a

To determine

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The table shows payroll liabilities, from the given data.

Answer 7

Chapter 9, Problem 11E

a

To determine

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The table shows payroll liabilities, from the given data.

Answer 8

b

To determine

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The computation of FICA social security, Medicare taxes, and FUTA and SUTA taxes for the company.

Answer 9

b

To determine

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The computation of FICA social security, Medicare taxes, and FUTA and SUTA taxes for the company.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 9 - Prob. 1QS Ch. 9 - Prob. 2QS Ch. 9 - Prob. 3QS Ch. 9 - Prob. 4QS Ch. 9 - Prob. 5QS Ch. 9 - Prob. 6QS Ch. 9 - Prob. 7QS Ch. 9 - Prob. 8QS Ch. 9 - Prob. 9QS Ch. 9 - Prob. 10QS

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable. The table shows payroll liabilities, from the given data.

Concept Introduction: Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable. The table shows payroll liabilities, from the given data.

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Chapter 9 Solutions

Concept Introduction:

Payroll liabilities are salaries, wages, benefits payable and payroll taxes levied on the employer. Payroll taxes are social security, Medicare taxes, and federal and state taxes payable.

The table shows payroll liabilities, from the given data.