Step 1. Journalize the entries to record the employer's payroll tax expense for each pay period in
Fantastic news! We've Found the answer you've been seeking!
Question:
Step 1. Journalize the entries to record the employer's payroll tax expense for each pay period in the general journal.
Step 2: Journalize the payment of each tax liability in the general journal.
Transcribed Image Text:
OCTOBER Employee David Clark Jack Johnson Hector Walker NOVEMBER Employee David Clark Jack Johnson Hector Walker DECEMBER Employee David Clark Jack Johnson Hector Walker Monthly Earnings $ 3,020 3,560 3,800 $10,380 Monthly Earnings $ 2,950 3,780 3,880 $10,610 Monthly Earnings $ 4,160 3,740 4,460 $12,360 YTD Earnings $101,800 39,400 43,900 $185,100 YTD Earnings $104,750 43,180 47,780 $195,710 YTD Earnings $108,910 46,920 52,240 $208,070 FICA Medicare Federal Income Tax $ 532.00 431.00 531.00 $1,494.00 OASDI $187.24 $43.79 220.72 51.62 235.60 55.10 $643.56 $150.51 FICA OASDI Medicare $182.90 $42.78 234.36 54.81 240.56 56.26 $657.82 $153.85 Elite 7 FICA OASDI Medicare $127.10 $ 60.32 231.88 54.23 276.52 64.67 $635.50 $179.22 Federal Income Tax $ 596.00 470.00 556.00 $1,622.00 Federal Income Tax $ 870.00 843.00 702.00 $2,055.00 OCTOBER Employee David Clark Jack Johnson Hector Walker NOVEMBER Employee David Clark Jack Johnson Hector Walker DECEMBER Employee David Clark Jack Johnson Hector Walker Monthly Earnings $ 3,020 3,560 3,800 $10,380 Monthly Earnings $ 2,950 3,780 3,880 $10,610 Monthly Earnings $ 4,160 3,740 4,460 $12,360 YTD Earnings $101,800 39,400 43,900 $185,100 YTD Earnings $104,750 43,180 47,780 $195,710 YTD Earnings $108,910 46,920 52,240 $208,070 FICA Medicare Federal Income Tax $ 532.00 431.00 531.00 $1,494.00 OASDI $187.24 $43.79 220.72 51.62 235.60 55.10 $643.56 $150.51 FICA OASDI Medicare $182.90 $42.78 234.36 54.81 240.56 56.26 $657.82 $153.85 Elite 7 FICA OASDI Medicare $127.10 $ 60.32 231.88 54.23 276.52 64.67 $635.50 $179.22 Federal Income Tax $ 596.00 470.00 556.00 $1,622.00 Federal Income Tax $ 870.00 843.00 702.00 $2,055.00
Expert Answer:
Answer rating: 100% (QA)
48 49 50 Date 51 October 52 53 54 898584 Journalize the entries to record the employers payroll tax ... View the full answer
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Posted Date:
Students also viewed these accounting questions
-
Journalize the entries to record the following selected transactions: a. Sold $3,400 of merchandise on account, subject to a sales tax of 5%. The cost of the merchandise sold was $2,000. b. Paid...
-
Journalize the entries to record the following selected bond investment transactions for Olson Technologies: (a) Purchased for cash $90,000 of Hart Industries 7% bonds at 100 plus accrued interest of...
-
Journalize the entries to record the following selected bond investment transactions for First Union: (a) Purchased for cash $400,000 of Medford City 5% bonds at 100 plus accrued interest of $4,500....
-
Suppose that two linear equations are graphed on the same set of coordinate axes. Sketch what the graph might look like if the system has the given description. (a) The system has a single solution....
-
The coming year is expected to be a good one with probability 0.70. Given that it is a good year, you expect that a dividend will be declared with probability 0.90. However, if it is not a good year,...
-
Determine the magnitude of the hydrostatic force acting on gate AB, which has a width of 2 m. Water has a density of p = 1 Mg/m. 3 m 2 m A B Prob. F9-20
-
Your European subsidiary has cash and accounts receivable of 100 and 300 euros respectively, and accounts payable and short-term debt of 100 and 200 euros respectively. US headquarters re-measures...
-
The McCracken County Humane Society (MCHS), which is part of a county's reporting entity, established a permanent fund to provide support for its pet neutering program. As of the start of the year,...
-
The computation of end balance of PV of Lease Receivables under Sales Type Lease is * 1 point none of the choices is correct both a and b are correct answers (b) Same computation as to Finance Type...
-
Three infinite lines L1, L2, and L3 defined by x = 0, y = 0; x = 0, y = 4; x = 3, y = 4, respectively, carry filamentary currents 100 A, 200 A, and 300 A along az. Find the force per unit length on...
-
The TechEdge Corporation offers two forms of 4-year service contracts on its closed-loop water purification system used in the manufacture of semiconductor packages for microwave and high-speed...
-
The statement of cash flow consists of three main activities, as follows: Operating Investing Financing Each section provides the reader with details on where the cash came from and where the cash...
-
I did 12 interviews about the experience at my restaurant and follow the results: 8 people rate the experience as exceptional 2 people as average 2 people disappointing 6 people have the average...
-
How to forecast the demand from 1/1/2022 to 12/1/2022 using the regression equation in excel? 5 L Home Insert Draw Page Layout X 1 2 3 4 D7 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25...
-
Implement deep_map, which takes a function with f applied to any element within link f and a link. It returns a new linked list with the same structure as link, but any Link instance contained in...
-
How would i calculate the desired ROI per unit based on this information: $65Per Unit Direct Materials $48.00Per Unit Direct Labour $16.00Per Unit Variable Manufacturing Overhead $12.00Per Unit...
-
What proportion of the economy was produced under conditions ofelastic demand, as found by Blinder's survey? About 50% About 83% About 5/6ths About 1/6th
-
What services are provided by the provincial and territorial governments?
-
What do the following data taken from a comparative balance sheet indicate about the company's ability to borrow additional funds on a long-term basis in the current year as compared to the preceding...
-
Go to the Internet and review the procedures for applying for a patent, a copyright, and a trademark. One Internet site that is useful for this purpose is idresearch.com, which is linked to the texts...
-
Your boss has suggested that a one-year payback period is the same as a 100% average rate of return. Do you agree?
-
1. In 1944, W. E. Collins conveyed land to the Church of God of Prophecy. The deed said: "This deed is made with the full understanding that should the property fail to be used for the Church of God,...
-
2. CPA QUESTION On July 1, 1992, Quick, Onyx, and Nash were deeded a piece of land as tenants in common. The deed provided that Quick owned half the property and Onyx and Nash owned one quarter each....
-
3. Summey Building Systems built a condominium project in Myrtle Beach, South Carolina. The project included an adjacent parking deck. Shortly after Summey relinquished control to the condominium...
Study smarter with the SolutionInn App