Piniella Company has the following data for the weekly payroll ending January 31. Employees are paid 112
Question:
Piniella Company has the following data for the weekly payroll ending January 31.
Employees are paid 11â„2 times the regular hourly rate for all hours worked in excess of 40 hours per week. FICA taxes are 8% on the first $106,800 of gross earnings. Piniella 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
(a) Prepare the payroll register for the weekly payroll.
(b) Prepare the journal entries to record the payroll and Piniella's payroll taxexpense.
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Related Book For
Financial Accounting
ISBN: 978-0470507018
7th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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