Compute Payroll Liabilities - Win-Win Company Journal entry: Employee payroll expenses and liabilities Win-Win Company Win-Win...
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Compute Payroll Liabilities - Win-Win Company Journal entry: Employee payroll expenses and liabilities Win-Win Company Win-Win company's first weekly pay period of the year ends on January 8. On that date, the column totals in its payroll register show that The employees are to have withheld from their salaries FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $9,000 of federal income taxes, $2,000 of medical insance deductions, and $1,000 of pension contributions. No employee earned more than $7,000 in the first pay period. Required: Part la. Compute FICA--Social Security taxes payable and FICA-Medicare taxes payable. Part 1b. Prepare the journal entry to record Win-Win's January 8 (employee) payroll expenses and liabilities. (Round amounts to cents.) Required: Be sure to include a description for each journal entry Journal entry: Employer payroll taxes - Win-Win Company Prepare the journal entry to record Win-Win's (employer) payroll taxes resulting from the January 8 payroll. (Round amounts to cents.) Win-Win's merit rating reduces its state unemployment tax rate to 3.4% of the first $7,000 paid to each employee. Part 2. The federal unemployment tax rate is 0.6%. Required: Be sure to include a description for each journal entry Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $117,000 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 6.20%. 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: Current Week Name Dahlia Trey Kiesha Gross Pay through Aug. 18 $115,900 116,550 8,900 2,850 Gross Pay $2.900 450 630 580 Income Tax Withholding $412 72 55 44 Chee In addition to gross pay, the company must pay one-half of the $96 per employee for weekly health insurance. Each employee pays the remaining one-half of the weery health insurance. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Prepare the Payroll Register below for the week ended August 25 to show each employee's net (take home) pay. (Round your calculations and final answers to 2 decimal places.) Part 1. Calculate employer's FUTA tax for Chee - Paloma Co. Required: Part 2. Calculate the employer's FUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 2 Calculate employer's SUTA tax for Chee - Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 3 Compute Payroll Liabilities - Win-Win Company Journal entry: Employee payroll expenses and liabilities Win-Win Company Win-Win company's first weekly pay period of the year ends on January 8. On that date, the column totals in its payroll register show that The employees are to have withheld from their salaries FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $9,000 of federal income taxes, $2,000 of medical insance deductions, and $1,000 of pension contributions. No employee earned more than $7,000 in the first pay period. Required: Part la. Compute FICA--Social Security taxes payable and FICA-Medicare taxes payable. Part 1b. Prepare the journal entry to record Win-Win's January 8 (employee) payroll expenses and liabilities. (Round amounts to cents.) Required: Be sure to include a description for each journal entry Journal entry: Employer payroll taxes - Win-Win Company Prepare the journal entry to record Win-Win's (employer) payroll taxes resulting from the January 8 payroll. (Round amounts to cents.) Win-Win's merit rating reduces its state unemployment tax rate to 3.4% of the first $7,000 paid to each employee. Part 2. The federal unemployment tax rate is 0.6%. Required: Be sure to include a description for each journal entry Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $117,000 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 6.20%. 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: Current Week Name Dahlia Trey Kiesha Gross Pay through Aug. 18 $115,900 116,550 8,900 2,850 Gross Pay $2.900 450 630 580 Income Tax Withholding $412 72 55 44 Chee In addition to gross pay, the company must pay one-half of the $96 per employee for weekly health insurance. Each employee pays the remaining one-half of the weery health insurance. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Prepare the Payroll Register below for the week ended August 25 to show each employee's net (take home) pay. (Round your calculations and final answers to 2 decimal places.) Part 1. Calculate employer's FUTA tax for Chee - Paloma Co. Required: Part 2. Calculate the employer's FUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 2 Calculate employer's SUTA tax for Chee - Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 3 Compute Payroll Liabilities - Win-Win Company Journal entry: Employee payroll expenses and liabilities Win-Win Company Win-Win company's first weekly pay period of the year ends on January 8. On that date, the column totals in its payroll register show that The employees are to have withheld from their salaries FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $9,000 of federal income taxes, $2,000 of medical insance deductions, and $1,000 of pension contributions. No employee earned more than $7,000 in the first pay period. Required: Part la. Compute FICA--Social Security taxes payable and FICA-Medicare taxes payable. Part 1b. Prepare the journal entry to record Win-Win's January 8 (employee) payroll expenses and liabilities. (Round amounts to cents.) Required: Be sure to include a description for each journal entry Journal entry: Employer payroll taxes - Win-Win Company Prepare the journal entry to record Win-Win's (employer) payroll taxes resulting from the January 8 payroll. (Round amounts to cents.) Win-Win's merit rating reduces its state unemployment tax rate to 3.4% of the first $7,000 paid to each employee. Part 2. The federal unemployment tax rate is 0.6%. Required: Be sure to include a description for each journal entry Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $117,000 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 6.20%. 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: Current Week Name Dahlia Trey Kiesha Gross Pay through Aug. 18 $115,900 116,550 8,900 2,850 Gross Pay $2.900 450 630 580 Income Tax Withholding $412 72 55 44 Chee In addition to gross pay, the company must pay one-half of the $96 per employee for weekly health insurance. Each employee pays the remaining one-half of the weery health insurance. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Prepare the Payroll Register below for the week ended August 25 to show each employee's net (take home) pay. (Round your calculations and final answers to 2 decimal places.) Part 1. Calculate employer's FUTA tax for Chee - Paloma Co. Required: Part 2. Calculate the employer's FUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 2 Calculate employer's SUTA tax for Chee - Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 3 Compute Payroll Liabilities - Win-Win Company Journal entry: Employee payroll expenses and liabilities Win-Win Company Win-Win company's first weekly pay period of the year ends on January 8. On that date, the column totals in its payroll register show that The employees are to have withheld from their salaries FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $9,000 of federal income taxes, $2,000 of medical insance deductions, and $1,000 of pension contributions. No employee earned more than $7,000 in the first pay period. Required: Part la. Compute FICA--Social Security taxes payable and FICA-Medicare taxes payable. Part 1b. Prepare the journal entry to record Win-Win's January 8 (employee) payroll expenses and liabilities. (Round amounts to cents.) Required: Be sure to include a description for each journal entry Journal entry: Employer payroll taxes - Win-Win Company Prepare the journal entry to record Win-Win's (employer) payroll taxes resulting from the January 8 payroll. (Round amounts to cents.) Win-Win's merit rating reduces its state unemployment tax rate to 3.4% of the first $7,000 paid to each employee. Part 2. The federal unemployment tax rate is 0.6%. Required: Be sure to include a description for each journal entry Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $117,000 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 6.20%. 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: Current Week Name Dahlia Trey Kiesha Gross Pay through Aug. 18 $115,900 116,550 8,900 2,850 Gross Pay $2.900 450 630 580 Income Tax Withholding $412 72 55 44 Chee In addition to gross pay, the company must pay one-half of the $96 per employee for weekly health insurance. Each employee pays the remaining one-half of the weery health insurance. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Prepare the Payroll Register below for the week ended August 25 to show each employee's net (take home) pay. (Round your calculations and final answers to 2 decimal places.) Part 1. Calculate employer's FUTA tax for Chee - Paloma Co. Required: Part 2. Calculate the employer's FUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 2 Calculate employer's SUTA tax for Chee - Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 3 Compute Payroll Liabilities - Win-Win Company Journal entry: Employee payroll expenses and liabilities Win-Win Company Win-Win company's first weekly pay period of the year ends on January 8. On that date, the column totals in its payroll register show that The employees are to have withheld from their salaries FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $9,000 of federal income taxes, $2,000 of medical insance deductions, and $1,000 of pension contributions. No employee earned more than $7,000 in the first pay period. Required: Part la. Compute FICA--Social Security taxes payable and FICA-Medicare taxes payable. Part 1b. Prepare the journal entry to record Win-Win's January 8 (employee) payroll expenses and liabilities. (Round amounts to cents.) Required: Be sure to include a description for each journal entry Journal entry: Employer payroll taxes - Win-Win Company Prepare the journal entry to record Win-Win's (employer) payroll taxes resulting from the January 8 payroll. (Round amounts to cents.) Win-Win's merit rating reduces its state unemployment tax rate to 3.4% of the first $7,000 paid to each employee. Part 2. The federal unemployment tax rate is 0.6%. Required: Be sure to include a description for each journal entry Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $117,000 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 6.20%. 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: Current Week Name Dahlia Trey Kiesha Gross Pay through Aug. 18 $115,900 116,550 8,900 2,850 Gross Pay $2.900 450 630 580 Income Tax Withholding $412 72 55 44 Chee In addition to gross pay, the company must pay one-half of the $96 per employee for weekly health insurance. Each employee pays the remaining one-half of the weery health insurance. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Prepare the Payroll Register below for the week ended August 25 to show each employee's net (take home) pay. (Round your calculations and final answers to 2 decimal places.) Part 1. Calculate employer's FUTA tax for Chee - Paloma Co. Required: Part 2. Calculate the employer's FUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 2 Calculate employer's SUTA tax for Chee - Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 3 Compute Payroll Liabilities - Win-Win Company Journal entry: Employee payroll expenses and liabilities Win-Win Company Win-Win company's first weekly pay period of the year ends on January 8. On that date, the column totals in its payroll register show that The employees are to have withheld from their salaries FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $9,000 of federal income taxes, $2,000 of medical insance deductions, and $1,000 of pension contributions. No employee earned more than $7,000 in the first pay period. Required: Part la. Compute FICA--Social Security taxes payable and FICA-Medicare taxes payable. Part 1b. Prepare the journal entry to record Win-Win's January 8 (employee) payroll expenses and liabilities. (Round amounts to cents.) Required: Be sure to include a description for each journal entry Journal entry: Employer payroll taxes - Win-Win Company Prepare the journal entry to record Win-Win's (employer) payroll taxes resulting from the January 8 payroll. (Round amounts to cents.) Win-Win's merit rating reduces its state unemployment tax rate to 3.4% of the first $7,000 paid to each employee. Part 2. The federal unemployment tax rate is 0.6%. Required: Be sure to include a description for each journal entry Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $117,000 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 6.20%. 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: Current Week Name Dahlia Trey Kiesha Gross Pay through Aug. 18 $115,900 116,550 8,900 2,850 Gross Pay $2.900 450 630 580 Income Tax Withholding $412 72 55 44 Chee In addition to gross pay, the company must pay one-half of the $96 per employee for weekly health insurance. Each employee pays the remaining one-half of the weery health insurance. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Prepare the Payroll Register below for the week ended August 25 to show each employee's net (take home) pay. (Round your calculations and final answers to 2 decimal places.) Part 1. Calculate employer's FUTA tax for Chee - Paloma Co. Required: Part 2. Calculate the employer's FUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 2 Calculate employer's SUTA tax for Chee - Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 3 Compute Payroll Liabilities - Win-Win Company Journal entry: Employee payroll expenses and liabilities Win-Win Company Win-Win company's first weekly pay period of the year ends on January 8. On that date, the column totals in its payroll register show that The employees are to have withheld from their salaries FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $9,000 of federal income taxes, $2,000 of medical insance deductions, and $1,000 of pension contributions. No employee earned more than $7,000 in the first pay period. Required: Part la. Compute FICA--Social Security taxes payable and FICA-Medicare taxes payable. Part 1b. Prepare the journal entry to record Win-Win's January 8 (employee) payroll expenses and liabilities. (Round amounts to cents.) Required: Be sure to include a description for each journal entry Journal entry: Employer payroll taxes - Win-Win Company Prepare the journal entry to record Win-Win's (employer) payroll taxes resulting from the January 8 payroll. (Round amounts to cents.) Win-Win's merit rating reduces its state unemployment tax rate to 3.4% of the first $7,000 paid to each employee. Part 2. The federal unemployment tax rate is 0.6%. Required: Be sure to include a description for each journal entry Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $117,000 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 6.20%. 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: Current Week Name Dahlia Trey Kiesha Gross Pay through Aug. 18 $115,900 116,550 8,900 2,850 Gross Pay $2.900 450 630 580 Income Tax Withholding $412 72 55 44 Chee In addition to gross pay, the company must pay one-half of the $96 per employee for weekly health insurance. Each employee pays the remaining one-half of the weery health insurance. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Prepare the Payroll Register below for the week ended August 25 to show each employee's net (take home) pay. (Round your calculations and final answers to 2 decimal places.) Part 1. Calculate employer's FUTA tax for Chee - Paloma Co. Required: Part 2. Calculate the employer's FUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 2 Calculate employer's SUTA tax for Chee - Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 3 Compute Payroll Liabilities - Win-Win Company Journal entry: Employee payroll expenses and liabilities Win-Win Company Win-Win company's first weekly pay period of the year ends on January 8. On that date, the column totals in its payroll register show that The employees are to have withheld from their salaries FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $9,000 of federal income taxes, $2,000 of medical insance deductions, and $1,000 of pension contributions. No employee earned more than $7,000 in the first pay period. Required: Part la. Compute FICA--Social Security taxes payable and FICA-Medicare taxes payable. Part 1b. Prepare the journal entry to record Win-Win's January 8 (employee) payroll expenses and liabilities. (Round amounts to cents.) Required: Be sure to include a description for each journal entry Journal entry: Employer payroll taxes - Win-Win Company Prepare the journal entry to record Win-Win's (employer) payroll taxes resulting from the January 8 payroll. (Round amounts to cents.) Win-Win's merit rating reduces its state unemployment tax rate to 3.4% of the first $7,000 paid to each employee. Part 2. The federal unemployment tax rate is 0.6%. Required: Be sure to include a description for each journal entry Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $117,000 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 6.20%. 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: Current Week Name Dahlia Trey Kiesha Gross Pay through Aug. 18 $115,900 116,550 8,900 2,850 Gross Pay $2.900 450 630 580 Income Tax Withholding $412 72 55 44 Chee In addition to gross pay, the company must pay one-half of the $96 per employee for weekly health insurance. Each employee pays the remaining one-half of the weery health insurance. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Prepare the Payroll Register below for the week ended August 25 to show each employee's net (take home) pay. (Round your calculations and final answers to 2 decimal places.) Part 1. Calculate employer's FUTA tax for Chee - Paloma Co. Required: Part 2. Calculate the employer's FUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 2 Calculate employer's SUTA tax for Chee - Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 3 Compute Payroll Liabilities - Win-Win Company Journal entry: Employee payroll expenses and liabilities Win-Win Company Win-Win company's first weekly pay period of the year ends on January 8. On that date, the column totals in its payroll register show that The employees are to have withheld from their salaries FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $9,000 of federal income taxes, $2,000 of medical insance deductions, and $1,000 of pension contributions. No employee earned more than $7,000 in the first pay period. Required: Part la. Compute FICA--Social Security taxes payable and FICA-Medicare taxes payable. Part 1b. Prepare the journal entry to record Win-Win's January 8 (employee) payroll expenses and liabilities. (Round amounts to cents.) Required: Be sure to include a description for each journal entry Journal entry: Employer payroll taxes - Win-Win Company Prepare the journal entry to record Win-Win's (employer) payroll taxes resulting from the January 8 payroll. (Round amounts to cents.) Win-Win's merit rating reduces its state unemployment tax rate to 3.4% of the first $7,000 paid to each employee. Part 2. The federal unemployment tax rate is 0.6%. Required: Be sure to include a description for each journal entry Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $117,000 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 6.20%. 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: Current Week Name Dahlia Trey Kiesha Gross Pay through Aug. 18 $115,900 116,550 8,900 2,850 Gross Pay $2.900 450 630 580 Income Tax Withholding $412 72 55 44 Chee In addition to gross pay, the company must pay one-half of the $96 per employee for weekly health insurance. Each employee pays the remaining one-half of the weery health insurance. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Prepare the Payroll Register below for the week ended August 25 to show each employee's net (take home) pay. (Round your calculations and final answers to 2 decimal places.) Part 1. Calculate employer's FUTA tax for Chee - Paloma Co. Required: Part 2. Calculate the employer's FUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 2 Calculate employer's SUTA tax for Chee - Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 3 Compute Payroll Liabilities - Win-Win Company Journal entry: Employee payroll expenses and liabilities Win-Win Company Win-Win company's first weekly pay period of the year ends on January 8. On that date, the column totals in its payroll register show that The employees are to have withheld from their salaries FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $9,000 of federal income taxes, $2,000 of medical insance deductions, and $1,000 of pension contributions. No employee earned more than $7,000 in the first pay period. Required: Part la. Compute FICA--Social Security taxes payable and FICA-Medicare taxes payable. Part 1b. Prepare the journal entry to record Win-Win's January 8 (employee) payroll expenses and liabilities. (Round amounts to cents.) Required: Be sure to include a description for each journal entry Journal entry: Employer payroll taxes - Win-Win Company Prepare the journal entry to record Win-Win's (employer) payroll taxes resulting from the January 8 payroll. (Round amounts to cents.) Win-Win's merit rating reduces its state unemployment tax rate to 3.4% of the first $7,000 paid to each employee. Part 2. The federal unemployment tax rate is 0.6%. Required: Be sure to include a description for each journal entry Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $117,000 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 6.20%. 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: Current Week Name Dahlia Trey Kiesha Gross Pay through Aug. 18 $115,900 116,550 8,900 2,850 Gross Pay $2.900 450 630 580 Income Tax Withholding $412 72 55 44 Chee In addition to gross pay, the company must pay one-half of the $96 per employee for weekly health insurance. Each employee pays the remaining one-half of the weery health insurance. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Prepare the Payroll Register below for the week ended August 25 to show each employee's net (take home) pay. (Round your calculations and final answers to 2 decimal places.) Part 1. Calculate employer's FUTA tax for Chee - Paloma Co. Required: Part 2. Calculate the employer's FUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 2 Calculate employer's SUTA tax for Chee - Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 3 Compute Payroll Liabilities - Win-Win Company Journal entry: Employee payroll expenses and liabilities Win-Win Company Win-Win company's first weekly pay period of the year ends on January 8. On that date, the column totals in its payroll register show that The employees are to have withheld from their salaries FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $9,000 of federal income taxes, $2,000 of medical insance deductions, and $1,000 of pension contributions. No employee earned more than $7,000 in the first pay period. Required: Part la. Compute FICA--Social Security taxes payable and FICA-Medicare taxes payable. Part 1b. Prepare the journal entry to record Win-Win's January 8 (employee) payroll expenses and liabilities. (Round amounts to cents.) Required: Be sure to include a description for each journal entry Journal entry: Employer payroll taxes - Win-Win Company Prepare the journal entry to record Win-Win's (employer) payroll taxes resulting from the January 8 payroll. (Round amounts to cents.) Win-Win's merit rating reduces its state unemployment tax rate to 3.4% of the first $7,000 paid to each employee. Part 2. The federal unemployment tax rate is 0.6%. Required: Be sure to include a description for each journal entry Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $117,000 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 6.20%. 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: Current Week Name Dahlia Trey Kiesha Gross Pay through Aug. 18 $115,900 116,550 8,900 2,850 Gross Pay $2.900 450 630 580 Income Tax Withholding $412 72 55 44 Chee In addition to gross pay, the company must pay one-half of the $96 per employee for weekly health insurance. Each employee pays the remaining one-half of the weery health insurance. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Prepare the Payroll Register below for the week ended August 25 to show each employee's net (take home) pay. (Round your calculations and final answers to 2 decimal places.) Part 1. Calculate employer's FUTA tax for Chee - Paloma Co. Required: Part 2. Calculate the employer's FUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 2 Calculate employer's SUTA tax for Chee - Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 3 Compute Payroll Liabilities - Win-Win Company Journal entry: Employee payroll expenses and liabilities Win-Win Company Win-Win company's first weekly pay period of the year ends on January 8. On that date, the column totals in its payroll register show that The employees are to have withheld from their salaries FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $9,000 of federal income taxes, $2,000 of medical insance deductions, and $1,000 of pension contributions. No employee earned more than $7,000 in the first pay period. Required: Part la. Compute FICA--Social Security taxes payable and FICA-Medicare taxes payable. Part 1b. Prepare the journal entry to record Win-Win's January 8 (employee) payroll expenses and liabilities. (Round amounts to cents.) Required: Be sure to include a description for each journal entry Journal entry: Employer payroll taxes - Win-Win Company Prepare the journal entry to record Win-Win's (employer) payroll taxes resulting from the January 8 payroll. (Round amounts to cents.) Win-Win's merit rating reduces its state unemployment tax rate to 3.4% of the first $7,000 paid to each employee. Part 2. The federal unemployment tax rate is 0.6%. Required: Be sure to include a description for each journal entry Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $117,000 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 6.20%. 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: Current Week Name Dahlia Trey Kiesha Gross Pay through Aug. 18 $115,900 116,550 8,900 2,850 Gross Pay $2.900 450 630 580 Income Tax Withholding $412 72 55 44 Chee In addition to gross pay, the company must pay one-half of the $96 per employee for weekly health insurance. Each employee pays the remaining one-half of the weery health insurance. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Required: Prepare the Payroll Register below for the week ended August 25 to show each employee's net (take home) pay. (Round your calculations and final answers to 2 decimal places.) Part 1. Calculate employer's FUTA tax for Chee - Paloma Co. Required: Part 2. Calculate the employer's FUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 2 Calculate employer's SUTA tax for Chee - Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 3
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One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different corporations: Determine the missing amounts, identifying them...
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Four key marketing decision variables are price (P), advertising (A), transportation (T), and product quality (Q). Consumer demand (D) is influenced by these variables. The simplest model for...
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What has been the general pattern of U.S. budget deficits in recent decades?
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GSK Inc., accountants have developed the following data from the company's accounting records for the year ended November 30, 2005: a. Purchase of plant assets, $100,000 b. Cash receipt from issuance...
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Pet Toys, Inc., expected to sell one plush toy for each two chew toys sold. Planned sales and variable costs for last year were as follows: During the year, a competitor came out with a similar plush...
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As Michael O'Leary reflected on his two decades at the helm of Ryanair, he was pleased with the results of his strategy for the airline. When he assumed the position of CEO in 1994, Ryanair was a...
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The Columbia River Crossing (CRC) project is in-tended to improve traffic flow in the I- 5 corridors in the greater Vancouver, Washington, and Portland, Oregon, region. The proposed project is...
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Mining recently began on a new deposit of 10 million tons of ore (2% nickel and 4% copper). Annual production of 350,000 tons began this year. The market price of nickel is $3.75 per pound and $0.65...
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Show that any two statistically independent random variables have a correlation coefficient that is zero.
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The characteristic equation for a fixed-free beam is \(\cos \lambda^{1 / 4} \cosh \lambda^{1 / 4}=-1\). This is an example of a ______________ equation to solve for \(\lambda\).
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Modify fp compare to handle infinities properly.
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What does reducing the number of kanban cards circulating in a single card kanban loop reduce?
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A system consists of 5 identical components connected in parallel. Determine the reliability of each component if the overall reliability of the system is to be 0.96 ?
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Recycle Corp recycles various scrap metals by processing them in an electric furnace at its Wedgewater facility. A large quantity of dust is produced as a byproduct which Recycle has been...
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Reduction in sales All of the above 29. Belt of an electric motor is broken, it needs a. Corrective maintenance b. Scheduled maintenance c. Preventive maintenance d. Timely maintenance. 30. The...
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A 21-year-old songwriter signed a contract in 1966 with a music publisher. The standard-form contract assigned the copyrights of all the plaintiffs output to the defendant company in return for the...
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What are firms assumed to maximize? Under what constraints do firms perform this maximization? Describe how the individual firm determines the output level that achieves that maximum. Can you...
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Explain why professional rescuers should typically receive a larger reward than anticipated rescuers, and anticipated rescuers should typically receive a larger reward than fortuitous rescuers.
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A system, consisting of \(2 \mathrm{~mol}\) of \(\mathrm{N}_{2}, 5 \mathrm{~mol}\) of \(\mathrm{H}_{2}\) and \(2 \mathrm{~mol}\) of \(\mathrm{NH}_{3}\) initially, is undergoing the following...
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A thermodynamic system (a) Is a definite quantity of matter (b) Is surrounded by a boundary (c) Can exchange energy with its surroundings (d) All of these.
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The study of thermodynamics enables us to understand (a) Whether the transformation of energy is feasible or not (b) To what extent the transformation will take place (c) In which direction the...
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