The completed Payroll Register for the February and March biweekly pay periods is provided, assuming benefits...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The completed Payroll Register for the February and March biweekly pay periods is provided, assuming benefits went into effect as anticipated. Required: 1. Using the payroll registers, complete the General Journal entries as follows: February 7 Journalize the employee pay. Journalize the employer payroll tax for the February 7 pay period. Use 5.4 percent SUTA and 0.6 percent FUTA. No employees will exceed the FUTA or SUTA wage base. Journalize the employee pay. February 7 February 12 February 21 Issue employee pay. February 21 ces February 26 February 26 March 6 Journalize the employer payroll tax for the February 21 pay period. Use 5.4 percent SUTA and 0.6 percent FUTA. No employee will exceed the FUTA or SUTA wage base. Issue employee pay. Issue payment for payroll liabilities. Journalize employee pay. Journalize employer payroll tax for the March 6 pay period. Use 5.4 percent SUTA and 0.6 percent FUTA. No employees will exceed the FUTA or SUTA wage base. Issue employee pay. Journalize employee pay. March 6 March 11 March 20 March 20 March 25 Issue employee pay. Journalize employer payroll tax for the March 20 pay period. Use 5.4 percent SUTA and 0.6 percent FUTA. No employees will exceed FUTA or SUTA wage base. 2. Post all journal entries to the appropriate General Ledger accounts. Complete this question by entering your answers in the tabs below. PRF Feb 07 PRF Feb 21 PRF Mar 6 PRF Mar 20 General Journal General Ledger Complete the Journal entry. Assume that employment taxes have been deposited as required. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round intermediate calculations and final answers to 2 The completed Payroll Register for the February and March biweekly pay periods is provided, assuming benefits went into effect as anticipated. Required: 1. Using the payroll registers, complete the General Journal entries as follows: February 7 Journalize the employee pay. Journalize the employer payroll tax for the February 7 pay period. Use 5.4 percent SUTA and 0.6 percent FUTA. No employees will exceed the FUTA or SUTA wage base. Journalize the employee pay. February 7 February 12 February 21 Issue employee pay. February 21 ces February 26 February 26 March 6 Journalize the employer payroll tax for the February 21 pay period. Use 5.4 percent SUTA and 0.6 percent FUTA. No employee will exceed the FUTA or SUTA wage base. Issue employee pay. Issue payment for payroll liabilities. Journalize employee pay. Journalize employer payroll tax for the March 6 pay period. Use 5.4 percent SUTA and 0.6 percent FUTA. No employees will exceed the FUTA or SUTA wage base. Issue employee pay. Journalize employee pay. March 6 March 11 March 20 March 20 March 25 Issue employee pay. Journalize employer payroll tax for the March 20 pay period. Use 5.4 percent SUTA and 0.6 percent FUTA. No employees will exceed FUTA or SUTA wage base. 2. Post all journal entries to the appropriate General Ledger accounts. Complete this question by entering your answers in the tabs below. PRF Feb 07 PRF Feb 21 PRF Mar 6 PRF Mar 20 General Journal General Ledger Complete the Journal entry. Assume that employment taxes have been deposited as required. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round intermediate calculations and final answers to 2
Expert Answer:
Answer rating: 100% (QA)
February 7 1 Journalize employee pay Debit Salaries Expense 10000 Credit Cash 10000 2 Journalize emp... View the full answer
Related Book For
Payroll Accounting 2023
ISBN: 9781264415618
9th Edition
Authors: Jeanette M. Landin, Paulette Schirmer
Posted Date:
Students also viewed these accounting questions
-
The present budget for supplies ($16,300) is to be increased by 7% in the coming year. What amount should be included for supplies in the new budget
-
In the United States, cold chain shipments are regulated by: A. Internally by their organizations B. OSHA C. FDA D. CMS
-
TranscribedText: Continuing Payroll Project: Prevosti Farms and Sugarhouse (Static) The completed Payroll Register for the February and March biweekly pay periods is provided, assuming benefits went...
-
Why program planning is important in public health leadership?
-
Show that if are defined by Eq. (11.7.6), then Var@--2. IJ I-1 for i IJ Var(Bj) 2 for J-1, . . . . J IJ
-
So-called "same-store sales" are a very important measure for companies as diverse as McDonald's and Sears. As the name suggests, examining same-store sales means comparing revenues from the same...
-
Prospect Oil Company sold a total of 1,000 Mcf of gas at $9.00/Mcf. The lease provides a 1/5 RI. The working interest owner receives 100% of the revenues (net of 5% severance tax) and then...
-
In March, Kelly Manufacturing had the following unit production costs: materials $10 and conversion costs $8. On March 1, it had zero work in process. During March, Kelly transferred out 22,000...
-
Home Properties is developing a subdivision that includes 330 home lots. The 210 lots in the Canyon section are below a ridge and do not have views of the neighboring canyons and hills; the 120 lots...
-
Consider Figure 5 below showing a firm's marginal cost (MC), average cost (AC), and marginal revenue (MR). Figure 5 Which of the following statements is true? Oa. The firm is a price-taker. O b. The...
-
Support Department Costs Problem A: Case Description The costs of operating the service departments (Personnel and Administration) at Ashton Architectural are allocated to the revenue-generating...
-
Use the gross profit method with the following cost data, estimate the cost of ending inventory Net sales $ 3 9 0 , 0 0 0 Gross profit rate 6 5 % Beginning inventory $ 5 5 , 0 0 0 Net purchases $ 1 4...
-
Here is what I have for the mentioned problem 7. Need to use this code but loop it to receive how I am asked to produce the proper output. I cant figure out how to add the loop and format it...
-
A fixed interest security was issued on 1 January in a given year. The security pays half - yearly coupons of 4 % per annum. The security is redeemable at 1 1 0 % 2 0 years after issue. An investor...
-
The overhead of Power Company is applied based on direct labor cost. The work in process on December 31 represents Job#222 which has been charged with direct labor cost of P700 and Job#258 which has...
-
A survey is conducted of n = 150 adults and 35 reported high blood pressure problems. (a) Construct a 95% confidence interval for p (proportion of people with high blood pressure). (13 points) (b)...
-
Listed below are several terms and phrases associated with basic assumptions, broad accounting principles, and constraints. Pair each item from List A (by letter) with the item from List B that is...
-
Around the Horn (B). Assume the following bid-ask quotes and calculate how the market trader can now make an intermarket arbitrage profit. Banks Spot Rates Citibank $1.6192-96/ National Westminster...
-
Great Pyramids. Inspired by his recent trip to the Great Pyramids, Citibank trader Ruminder Dhillon wonders if he can make an intermarket arbitrage profit using Libyan dinars (LYD) and Saudi riyals...
-
Bank for International Settlements. The Bank for International Settlements (BIS) publishes a wealth of effective exchange rate indices. Use its database and analyses to determine the degree to which...
Study smarter with the SolutionInn App