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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McCalls Garden Supply has seen the following annual demand for lime bags over the past 11 years: (a) Develop 2-year, 3-year, and 4-year moving averages to forecast demand in year 12. (b) Forecast...
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Describe an oligopolistic market structure. What alternatives to price competition exist in such markets? Why would these alternatives be important to shippers?
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Fill in the Blank. If \(S(\overline{\omega)}\) has significant values over a wide range of frequencies, the process is called \(\mathrm{a}(\mathrm{n})\) _____________ process.
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Milea Inc. experienced the following events in 2016, its first year of operations: 1. Received $20,000 cash from the issue of common stock. 2. Performed services on account for $56,000. 3. Paid the...
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Two test charges are located in the x-y plane. If q1 = -5.000 nC and is located at x = 0.00 m, y = 0.6400 m, and the second test charge has magnitude of 92 = 3.200 nC and is located at x2 1.500 m, y2...
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Bronys Bikes maintains two general demand deposit bank accounts and an imprest payroll account. One of the general bank accounts and the payroll account are with Dallas Dollar Bank. The second demand...
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The first step in the Ostwald process for the commercial production of nitric acid is carried out at 825 C. The reaction is 4NH3(g) + 5O2(g) 4NO(g) + 6HO(g). Given the following AG values, calculate...
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Rebecca has recently begun keeping her spending under control, but she still cannot fully pay off her credit card. She maintains an average monthly balance of about $1100, and her card charges a...
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Which manager is the best person to conduct the exit interview? Explain.
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How does the dynamic interplay between catalyst surface morphology and reactant adsorption kinetics influence catalytic activity and selectivity in heterogeneous catalysis ?
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Calculate the expected return and standard deviation of the returns on this stock: State of Economy Boom Normal Probability of State of Economy 20% 65% 15% Rate of Return if State Occurs 16% 12% 3%...
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BKM Industries spent $10,000 on a feasibility study to expand its production capacity. The company decided to go ahead with the expansion: It will need to buy a new machine for $50,000 and spend...
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Date Explanation Units Unit Cost Total Cost Jan. 1 Beginning Inventory 48 $ 8 $ 384 Mar. 22 Purchase 112 9 1,008 Jul. 3 Purchase 224 10 2,240 Oct. 31 Purchase 64 12 768 Total units available for sale...
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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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Explain the procedure for drawing Mohrs circle under complex stresses.
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Derive and expression for principal stresses in a body subjected to complex state of stress.
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Defined principal stresses and principal planes.
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