P11-3A Mann Hardware has four employees who are paid on an hourly basis plus time Prepare payroll register and and-a-half for all hours worked in excess of 40 a week. Payroll data for the week ended pryroll entries March 15, 2017, are presented below. (LO 3) Federal Hours Hourly Income Tax United Employee Worked Rate Withholdings Fund Ben Abel 40 $15.00 $? $5.00 Rita Hager 42 16.00 ? 5.00 Jack Never 13.00 60.00 8.00 Sue Perez 46 13.00 61.00 5.00 Abel and Hager are married. They claim 0 and 4 withholding allowances, respectively. The following tax rates are applicable: FICA 7.65%, state income taxes 3%, state unemploy. ment taxes 5.4%, and federal unemployment 0.8%. Instructions (a) Prepare a payroll register for the weekly payroll. (Use the wage-bracket withholding) Net pay $2,039.30 table in the text for federal income tax withholdings.) (b) Journalize the payroll on March 15, 2017, and the accrual of employer payroll taxes. Payroll tax expense 5349.43 (d) Journalize the deposit in a Federal Reserve bank on March 31, 2017, of the FICA and Cash paid $578.02 federal income taxes payable to the government. P11-4A The following payroll liability accounts are included in the ledger of Harmon Journalice payroll Company on January 1, 2017 transactions and adjusting tries. FICA Taxes Payable $ 760.00 (LO 3, 4) Federal Income Taxes Payable 1,204.60 State Income Taxes Payable 108.95 GLS Federal Unemployment The Payable 788 95 State Unemployment Taxes Payable 1.954.40 Union Dues Payable 870.00 U.S. Savings Bonds Payable 360.00 In January, the following transactions occurred. Jan. 10 Sent check for $870.00 to union treasurer for union dues 12 Remitted check for $1,964.60 to the Federal Reserve bank for FICA taxes and federal income taxes withheld. 15 Purchased U.S. Savings Bonds for employees by writing check for $360.00. 17 Paid state income taxes withheld from employees. 20 Paid federal and state unemployment taxes. 31 Completed monthly payroll register, which shows salaries and wages $58.000, FICA taxes withheld $4,437, federal income taxes payable $2,158, state income taxes payable $454, union dues payable $400, United Fund contributions payable $1,888, and net pay $48,663. 31 Prepared payroll checks for the net pay and distributed checks to employees. At January 31, the company also makes the following accrued adjustments pertaining to employee compensation. 1. Employer payroll taxex PICA taxCA 7.65%, federal unemployment taxes 0.8%, and state unemployment taxes 5.4%. *2. Vacation pay: 6% of gross earnings Instructions (a) Journalize the January transactions b) Payroll tax expense (b) Journalize the adjustments pertaining to employee compensation at January 31. 58.031 Vacation benefits expense 53,480 Instructions (a) Journalize the January transactions, (b) Journalize the adjustments pertaining to employee compensation at January 31. (b) Payroll tax expense 58,033: Vacation benefits expense 53.480 526 11 Current Liabilities and Payroll Accounting Prepare entries for payroll and P11-5A For the year ended December 31, 2017, Denkinger Electrical Repair Company payroll taxes, prepare W-2 reports the following summary payroll data. data Gross earnings: (LO) Administrative salaries $200,000 Electricians' wages 370,000 Total $570,000 Deductions: FICA taxes $ 38,615 Federal income taxes withheld 174,400 State income taxes withheld (39) 17.100 United Fund contributions payable 27,500 Health insurance premiums 17,200 Total $274,845 Denkinger Company's payroll taxes are Social Security tax 6.2%, Medicare tax 1.45%, state unemployment 2.5% (due to a stable employment record), and 0.8% federal unemploy ment. Gross earnings subject to Social Security taxes of 6.2% total $490,000, and gross earnings subject to unemployment taxes total $135,000 Instructions (a) Salaries and wages (a) Prepare a summary journal entry at December 31 for the full year's payroll. payable $295,155 (b) Journalize the adjusting entry at December 31 to record the employer's payroll taxes. (b) Payroll tax expense (e) The W-2 Wage and Tax Statement requires the following dollar data. $43,100 Wages, Tips, Federal Income State Income FICA FICA Tax Other Compensation Tax Withheld Tax Withheld Wages Withheld Complete the required data for the following employees. Employee Gross Earnings Federal Income Tax Withheld Maria Sandoval $59,000 $28,500 Jennifer Mingenback 26,000 10,200