Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer questions. What is the Wage Expense debit amount for the 46th pay? Question 11 2 pts Assume an opening $0 balance for social

Please answer questions. image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
What is the Wage Expense debit amount for the 46th pay? Question 11 2 pts Assume an opening $0 balance for social security payable just before the posting of the 46 th pay. How much will be in the Social Security account after the 46 th pay is posted? "round to the nearest penny" Question 12 2 pts What is the payroll tax expense debited amount? Futa and Suta caps for all employees have already been reached. "round to the nearest penny" What is line 3 of Form 941 for the 4 th quarter? Question 14 What is line 5 a column 1 (taxable wages) for the 4 th quarter on Form 941 ? Question 15 What is line 5c column 1 (taxable wages) for the 4 th quarter on Form 941? What was the tax liability for Month 1 on line 16 of Form 941 ? "round to the nearest penny" Question 17 What was the tax liability for Month 2 on line 16 of Form 941 ? "round to the nearest penny" Question 18 What was the tax liability for Month 3 on line 16 of Form 941 ? "round to the nearest penny" Smee and CO (EIN 35-4444444) has 3 employees during the 4th quarter. Everyone is paid weekly. Katia earns $24/ hour and David earns $31/ hour. They work 40 hours per week for 13 weeks in the quarter (assume Dec. has the 5th week). Jeremy is salaried and will have a gross pay of $3,410 this pay period. Each employee has worked the entire year with no changes in pay or payroll deductions. The following federal withholdings are deducted each pay. Assume no state or county withholdings for this part of the problem. The following additional withholdings are deducted each pay What is the Wage Expense debit amount for the 46th pay? Question 11 2 pts Assume an opening $0 balance for social security payable just before the posting of the 46 th pay. How much will be in the Social Security account after the 46 th pay is posted? "round to the nearest penny" Question 12 2 pts What is the payroll tax expense debited amount? Futa and Suta caps for all employees have already been reached. "round to the nearest penny" What is line 3 of Form 941 for the 4 th quarter? Question 14 What is line 5 a column 1 (taxable wages) for the 4 th quarter on Form 941 ? Question 15 What is line 5c column 1 (taxable wages) for the 4 th quarter on Form 941? What was the tax liability for Month 1 on line 16 of Form 941 ? "round to the nearest penny" Question 17 What was the tax liability for Month 2 on line 16 of Form 941 ? "round to the nearest penny" Question 18 What was the tax liability for Month 3 on line 16 of Form 941 ? "round to the nearest penny" Smee and CO (EIN 35-4444444) has 3 employees during the 4th quarter. Everyone is paid weekly. Katia earns $24/ hour and David earns $31/ hour. They work 40 hours per week for 13 weeks in the quarter (assume Dec. has the 5th week). Jeremy is salaried and will have a gross pay of $3,410 this pay period. Each employee has worked the entire year with no changes in pay or payroll deductions. The following federal withholdings are deducted each pay. Assume no state or county withholdings for this part of the problem. The following additional withholdings are deducted each pay

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Standards Board Webster S Timeline History 1971 2006

Authors: Icon Group International

1st Edition

0546876501, 978-0546876505

More Books

Students also viewed these Accounting questions