PAYROLL ACCT.,2019 ED.(LL)-TEXT
19th Edition
ISBN: 9781337619783
Author: BIEG
Publisher: CENGAGE L
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Textbook Question
Chapter 6, Problem 1MQ
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A. Expense account for FICA, FUTA, and SUTA taxes on the employer |
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B. Legal procedure by which a portion of the wages of any person is withheld for payment of a debt |
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C. Debit card-based accounts |
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D. Notifies employer of a tax levy |
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E. Used to complete Form W-2 |
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F. Provides information needed in preparing the |
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G. Debit portion of payroll entry |
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H. Earnings remaining after withholding for income taxes and for other amounts required by law |
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I. One-half regular pay rate multiplied by overtime hours |
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J. Liability account for wages that have been earned by employees but not yet paid |
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Students have asked these similar questions
Total payroll was $946,000, of which $222,000 is exempt from Social Security tax because it represented amounts paid in excess of
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Prepare the necessary journal entries if the wages and salaries paid and the employer payroll taxes are recorded separately. (If no entry
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More info
Requirements
For all payroll calculations, use the following tax rates and round amounts to the
nearest cent:
1. Journalize Felipe's expenses for employee benefits and for payroll taxes.
Explanations are not required.
Employee:
OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to
$200,000, 2.35% on earnings above $200,000.
2. What was Felipe's total expense for 2024 related to payroll?
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·
Prepare and use a payroll register including Social Security and Medicare withholdings.
Use =IF and =ROUND to design the Social Security tax and union dues formulas.
Record journal entries for payroll, employer's tax liability, and payment of payroll taxes.
Identify behavior patterns among payroll taxes over time.
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Create a chart showing the percentage of an employee's gross pay that is withheld for taxes
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PROBLEM DATA
Reno Graphics has five employees, and they are paid at the end of each month. Payroll data for
November are as follows:
Employee
Jones
Miller
Smith
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Zlotorzynski
Gross Pay for
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$9,000
1,530
1,210
12,000
4,200
Federal Income
Tax Withheld
$1,948
137
89
Cumulative Gross Pay at
October 31
$?
15,570
6,550
2,788
661
Other information (using 2011 rates) is as follows:
a. Social security taxes are 4.2% of monthly gross pay up to a cumulative…
Chapter 6 Solutions
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Ch. 6 - The totals from the payroll register of Olt...Ch. 6 - Olt Companys gross payroll for the week of January...Ch. 6 - _____ 1. 1. Employees earnings record A. Expense...Ch. 6 - Prob. 1QRCh. 6 - For what reason are distribution columns sometimes...Ch. 6 - Prob. 3QRCh. 6 - Prob. 4QRCh. 6 - Prob. 5QRCh. 6 - Prob. 6QRCh. 6 - Prob. 7QR
Ch. 6 - What portions of an employees take-home pay are...Ch. 6 - Prob. 9QRCh. 6 - Prob. 10QRCh. 6 - Prob. 11QRCh. 6 - What must the employer do with unclaimed...Ch. 6 - What special accounts must usually be opened in...Ch. 6 - Prob. 14QRCh. 6 - Prob. 15QRCh. 6 - Prob. 16QRCh. 6 - What accounts are debited and credited when an...Ch. 6 - Prob. 18QRCh. 6 - Prob. 19QRCh. 6 - Prob. 20QRCh. 6 - Prob. 1QDCh. 6 - Prob. 2QDCh. 6 - Prob. 3QDCh. 6 - Prob. 1PACh. 6 - Prob. 2PACh. 6 - a. Cal Ruther, an employer, is subject to FICA...Ch. 6 - The employees of Donnelly Music Company earn total...Ch. 6 - Vulcra, Inc., has a semimonthly payroll of 67,000...Ch. 6 - Prob. 6PACh. 6 - Prob. 7PACh. 6 - The employees of Pelter Company earn wages of...Ch. 6 - The following information pertains to a weekly...Ch. 6 - Prob. 10PACh. 6 - On December 31, 20--, Karmansky Company needed to...Ch. 6 - Kelsey Gunn is the only employee of Arsenault...Ch. 6 - Prob. 13PACh. 6 - At the end of April, Hernandez Company had a...Ch. 6 - Prob. 15PACh. 6 - In the Illustrative Case in this chapter, payroll...Ch. 6 - Prob. 1PBCh. 6 - Prob. 2PBCh. 6 - Prob. 3PBCh. 6 - The employees of Carson Bakery Company earn total...Ch. 6 - Purnell, Inc., has a semimonthly payroll of 53,900...Ch. 6 - Adams, Inc., pays its employees weekly wages in...Ch. 6 - Prob. 7PBCh. 6 - The employees of Portonegra Company earn wages of...Ch. 6 - The following information pertains to a weekly...Ch. 6 - Prob. 10PBCh. 6 - Prob. 11PBCh. 6 - Prob. 12PBCh. 6 - Prob. 13PBCh. 6 - At the end of June, Morton Company had a balance...Ch. 6 - Prob. 15PBCh. 6 - In the Illustrative Case in this chapter, payroll...Ch. 6 - Frank Flynn is the payroll manager for Powlus...
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