Canseco Company has the following data for the weekly payroll ending January 31. Employees are paid 1½
Question:
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Employees are paid 1½ times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 8% on the first $87,900 of gross earnings. Canseco Company is subject to 5.4% state unemployment taxes on the first $9,800 and 0.8% federal unemployment taxes on the first $7,000 of gross earnings.
Instructions
Prepare the payroll register for the weekly payroll.
Prepare the journal entries to record the payroll and Canseco's payroll taxexpense.
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1 PAYROLL REGISTER EMPLOYEE NAME EARNINGS FEDERAL FICA HEALTH TOTAL NET PAY REGULAR OVERTIME TOTAL INCOME TAX TAX INSURANCE M Hindi 440 99 539 34 43 1...View the full answer
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Related Book For 
Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
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