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I have two Quinton about Payroll Accounting. It's come with two Attachment Please help me forthe answers Question.1 Note: For this edition, the 2014 federal

I have two Quinton about Payroll Accounting. It's come with two Attachment Please help me forthe answers

image text in transcribed Question.1 Note: For this edition, the 2014 federal income tax tables, FICA rates, OASDI rate of 6.2% on wages up to $117,000 and the employee and employer HI rate of 1.45% on all wages was used. Unless instructed otherwise, click here to calculate hourly rate and overtime rates. In Oregon, employers who are covered by the state workers' compensation law withhold employee contributions from the wages of covered employees for the workers' benefit fund at the rate of 3.1 for each hour or part of an hour that the worker is employed. Every covered employer is also assessed 3.1 per hour for each worker employed for each hour or part of an hour. The employer-employee contributions for workers' compensation are collected monthly, quarterly, or annually by the employer's insurance carrier, according to a schedule agreed upon by the employer and the carrier. The insurance carrier remits the contributions to the state's Workers' Compensation Department. Cortez Company, a covered employer in Oregon, turns over the employer-employee workers' compensation contributions to its insurance carrier by the 15th of each month for the preceding month. During the month of July, the number of full-time employee-hours worked by the company's employees was 8,510; the number of part-time employee-hours was 2,360. a. The amount the company should have withheld from its full- and part-time employees during the month of July for workers' compensation insurance is: (Round your answer to the nearest cent.) $ b. The title you would give to the general ledger liability account to which the amount withheld from the employees' earnings would be credited is: Workers Compensation Insurance Payable Hide Feedback Partially Correct Check My Work Feedback a. Total full and part-time hours; multiply by contribution rate = withholding b. Name appropriate liability account. c. Journalize the entry on July 31 to record the employer's liability for workers' compensation insurance for the month. Round your answers to the nearest cent. Account Debit Credit Wages Expense Workers Compensation Insurance Expense Hide Feedback Incorrect Check My Work Feedback c. Journalize the entry to record the Debit to Worker's Compensation Insurance Expense and Credit to Worker's Compensation Insurance Payable. (Amount of debit and credit is total full and part-time hours multiplied by contribution rate). d. Journalize the entry on August 15 to record payment to the insurance carrier of the amount withheld from the employees' earnings for workers' compensation insurance and the amount of the employer's liability. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. Account Debit Credit Payroll Taxes Expense Payroll Taxes Payable Wages Expense Hide Feedback Partially Correct Check My Work Feedback d. Debit accounts which were credited for employee's and employer's liability for Worker's Compensation Insurance; credit Cash. Question. 2 Question.2 Note: For this edition, the 2014 federal income tax tables, FICA rates, OASDI rate of 6.2% on wages up to $117,000 and the employee and employer HI rate of 1.45% on all wages was used. Unless instructed otherwise, click here to calculate hourly rate and overtime rates. The form below shows the amounts that appear in the Earnings to Date column of the employees' earnings records for 10 full-time and part-time workers in Unger Company. These amounts represent the cumulative earnings for each worker as of October 9, the company's last payday. The form also gives the gross amount of earnings to be paid each worker on the next payday, October 16. In the state where Unger Company is located, the tax rates and bases are as follows: In the appropriate columns of the form shown below, do the following: 1. Compute the amount to be withheld from each employee's earnings on October 16 for (a) FICAOASDI (b) FICA-HI, and (c) SUTA, and determine the total employee taxes. 2. Record the portion of each employee's earnings that is taxable under FICA, FUTA, and SUTA, and calculate the total employer's payroll taxes on the October 16 payroll. If an amount box does not require an entry, leave it blank. If required, round your answers to the nearest cent. Enter the tax rates as decimals, carried out to four decimal places when required. UNGER COMPANY Taxes to Be Withheld from Employees' Earnings Under Gross Earnings to Earnings Employee Date Oct. 17 1. Weiser, Robert A. $117,855 $1,770 15,095 270 3. Grow, Joan L. 4,090 250 4. Rowe, Paul C. 8,165 245 5. McNamara, Joyce M. 7,425 235 116,785 1,625 8,980 285 2. Stankard, Laurie C. 6. O'Connor, Roger T. 7. Carson, Ronald B. FICA OASDI $ HI $ 8. Kenny, Ginni C. 9. Devery, Virginia S. 10. Wilson, Joe W. 4,350 150 56,910 590 3,645 175 Total employee taxes $ $ Total taxable earnings Applicable tax rate (enter as decimals, not percentages) Totals Total payroll taxes Hide Feedback Partially Correct Check My Work Feedback 1. Calculate amount to withhold from each employee's earnings for (a) FICA-OASDI (b) FICA-HI and (c) SUTA and determine the total employee taxes. Use tax rates given. 2. Calculate employer's payroll taxes based on employee's taxable earnings (considering year-to-date earnings). Calculate Total taxable earnings; multiply by applicable employer's tax rate, then calculate totals. Use tax rates given

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