River Company had the following partially completed payroll register (Click the icon to view the partial payroll register ) (Click the icon to view payroll tax rate information ) Read the requirements Expense Med Medicare Ins Insurance Requirement 1 Complete the payroll register Round to two decimals (Round all amounts to the nearest cent Abbreviations used Beg Beginning Cum Cumulative Earn Earnings Exp With Withholdings Chk Check ) Earnings Withholdings Salaries Beg Current Ending and Cum Period Cum Income Health United Total Net Chk Wages Earn Earn Earn OASDI Med Tax Ins Way With Pay No Exp $ 80,000 $ 4,400 $ 1,628 $ 88 $ 35 801 127,000 9,000 2,160 180 45 802 42,000 3,300 204 60 47 85 1,221 66 0 803 3,300 60,000 4,300 1,032 86 5 804 0 2,000 480 40 0 805 $ 309,000 $ 23,000 $ 6,521 $ 460 $ 85 1 Data Table Earnings Withholdings Salaries Beginning Current and Ending Cumulative Cumulative Period Income Health United Total Net Check Wages Earnings Earnings Earnings OASDI Medicare Tax Insurance Way Withholdings Pay No Expense 4,400 $ 1,628 $ 88 $ 35 801 80,000 $ 127,000 9,000 2,160 180 45 802 42,000 3,300 1,221 66 0 803 60,000 4,300 1,032 86 5 804 0 2,000 480 40 0 805 309,000 $ 23,000 $ 6,521 $ 460 $ 85 Print Done i More Info For all payroll calculations, use the following tax rates and round amounts to the nearest cent Employee OASDI 6 2 on first $132,900 earned Medicare 1 45 up to $200,000, 2 35 on earnings above $200,000 OASDI 6 2 on first $132,900 earned Medicare 1 45 FUTA 0 6 on first $7,000 earned SUTA 5 4 on first $7,000 earned Employer Print Done Requirements X 1 Complete the payroll register Round to two decimals 2 Journalize River Company's salaries and wages expense accrual for the current pay period 3 Journalize River Company's expenses for employer payroll taxes for the current pay period 4 Journalize the payment to employees 5 Journalize the payment for withholdings and employer payroll taxes Print Done

Question

River Company had the following partially completed payroll register  (Click the icon to view the partial payroll register ) (Click the icon to view payroll tax rate information ) Read the requirements    Expense  Med    Medicare  Ins    Insurance  Requirement 1  Complete the payroll register  Round to two decimals  (Round all amounts to the nearest cent  Abbreviations used  Beg    Beginning  Cum    Cumulative  Earn    Earnings  Exp  With    Withholdings  Chk   Check ) Earnings Withholdings Salaries Beg  Current Ending and Cum  Period Cum  Income Health United Total Net Chk Wages Earn  Earn  Earn  OASDI Med  Tax Ins  Way With  Pay No  Exp  $ 80,000 $ 4,400 $ 1,628 $ 88 $ 35 801 127,000 9,000 2,160 180 45 802 42,000 3,300 204 60 47 85 1,221 66 0 803 3,300 60,000 4,300 1,032 86 5 804 0 2,000 480 40 0 805 $ 309,000 $ 23,000 $ 6,521 $ 460 $ 85 1 Data Table Earnings Withholdings Salaries Beginning Current and Ending Cumulative Cumulative Period Income Health United Total Net Check Wages Earnings Earnings Earnings OASDI Medicare Tax Insurance Way Withholdings Pay No  Expense 4,400 $ 1,628 $ 88 $ 35 801 80,000 $ 127,000 9,000 2,160 180 45 802 42,000 3,300 1,221 66 0 803 60,000 4,300 1,032 86 5 804 0 2,000 480 40 0 805 309,000 $ 23,000 $ 6,521 $ 460 $ 85 Print Done i More Info For all payroll calculations, use the following tax rates and round amounts to the nearest cent  Employee  OASDI  6 2  on first $132,900 earned  Medicare  1 45  up to $200,000, 2 35  on earnings above $200,000  OASDI  6 2  on first $132,900 earned  Medicare  1 45   FUTA  0 6  on first $7,000 earned  SUTA  5 4  on first $7,000 earned  Employer  Print Done Requirements X 1  Complete the payroll register  Round to two decimals  2  Journalize River Company's salaries and wages expense accrual for the current pay period  3  Journalize River Company's expenses for employer payroll taxes for the current pay period  4  Journalize the payment to employees  5  Journalize the payment for withholdings and employer payroll taxes  Print Done

Accepted Answer

The Answer is in the image, click to view ...

Question

River Company had the following partially completed payroll register: (Click the icon to view the partial payroll register.) (Click the icon to view payroll tax

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Students also viewed these Accounting questions

Question

Question

Question

Question

Question

Question

Question

Question

Question