Question
To calculate OASDI, HI, SIT and CIT, please use the total earnings amount without reduction for simple deduction. Part 4 of this assignment is on
To calculate OASDI, HI, SIT and CIT, please use the total earnings amount without reduction for simple deduction.
- Part 4 of this assignment is on page 5-59. The instructions on this page does not do a good job in stating that you also need to calculate employee's SUTA and include it as one of the columns of payroll register. Please calculate employee's SUTA deduction by performing the following calculation: Employee's gross pay x 0.0006 (0.06%)
- Also, page 5-59 has a typo. It should say, "FUTA and SUTA for the pay of January 8th and not January 14."
- The last part is on page 6-84. For requirement #5 in Chapter 6, please use the proof the accuracy of the column totals in the attached spreadsheet:
Question 6, Part (a) should state, Prepare the journal entries for payroll and payroll taxes for the week ending January 8th." There are two journal entries for part (a) that you need to prepare for this part. One relates to debiting Wages and Salaries and the other journal entry for part (a) is calculating and journalizing employer's payroll taxes, which includes FICA (OASDI and HI), FUTA and SUTA.
To calculate OASDI, HI, SIT and CIT, please use the total earnings amount without reduction for simple deduction.
- Part 4 of this assignment is on page 5-59. The instructions on this page does not do a good job in stating that you also need to calculate employee's SUTA and include it as one of the columns of payroll register. Please calculate employee's SUTA deduction by performing the following calculation: Employee's gross pay x 0.0006 (0.06%)
- Also, page 5-59 has a typo. It should say, "FUTA and SUTA for the pay of January 8th and not January 14."
- The last part is on page 6-84. For requirement #5 in Chapter 6, please use the proof the accuracy of the column totals in the attached spreadsheet:
Question 6, Part (a) should state, Prepare the journal entries for payroll and payroll taxes for the week ending January 8th." There are two journal entries for part (a) that you need to prepare for this part. One relates to debiting Wages and Salaries and the other journal entry for part (a) is calculating and journalizing employer's payroll taxes, which includes FICA (OASDI and HI), FUTA and SUTA.
To calculate OASDI, HI, SIT and CIT, please use the total earnings amount without reduction for simple deduction.
- Part 4 of this assignment is on page 5-59. The instructions on this page does not do a good job in stating that you also need to calculate employee's SUTA and include it as one of the columns of payroll register. Please calculate employee's SUTA deduction by performing the following calculation: Employee's gross pay x 0.0006 (0.06%)
- Also, page 5-59 has a typo. It should say, "FUTA and SUTA for the pay of January 8th and not January 14."
- The last part is on page 6-84. For requirement #5 in Chapter 6, please use the proof the accuracy of the column totals in the attached spreadsheet:
Question 6, Part (a) should state, Prepare the journal entries for payroll and payroll taxes for the week ending January 8th." There are two journal entries for part (a) that you need to prepare for this part. One relates to debiting Wages and Salaries and the other journal entry for part (a) is calculating and journalizing employer's payroll taxes, which includes FICA (OASDI and HI), FUTA and SUTA.
- For part b, you need to prepare one journal entry that shows the salaries payable (from part a entry) has been paid on January 14th.
- Save the solution. Please make sure that the file name has no space or special symbols in between or it cannot be uploaded
- Close the saved file.
- Go back to "Modules" in Canvas.
- Click on Payroll Register Assignment and attach your file.
Check figures:
Regular earnings- Total: $7,065.14
Overtime earnings-Total: $479.17
CH 3:
OASDI Tax- Total: $467.75
HI Tax Total: $109.40
Ch 4:
FIT-Total: $358.00
SIT-Total: $231.61
SUTA Total: $4.52
CIT Total: $226.31
Ch5:
Net FUTA tax: $45.27
SUTA tax: $278.31
Ch 6:
Group Insurance Total: $6.80
Health Insurance Total: $16.50
Net pay: $5,683.42
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