Instructions Part A: Payment of the Wages, and the Payroll Taxes Part 3: Payment of Wages Instructions Examples The Journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be Debit Credit 24,762,70 Wages Expense FICA Taxes Payable-OASDI FICA Taxes Payable--HI 1,535.29 359,06 FIT Payable SIT Payable Group Insurance Payments W/H Cash 3,714.00 55.25 54.70 19,044.40 Example 6-7 The journal entry to record the payroll tax entry from Figure 6.1 on pages 6-2 and 6-3 would be assume a SUTA tax rate of 3.0%) Debit Credit Payroll Taxes 2,785.81 FICA Taxes Payable-OASOI 1,535.29 FICA Taxes Payable-HI 359.06 FUTA Taxes Payable 148.50 SUTA Taxes Payable 742.00 Purnell, Inc. has a semimonthly payroll of 553,900 on September 15, 20... The total payroll is taxable under FICA Taxes HD: 550,400 is taxable under FICA Taxes OASDI; and $7.500 istavat under PUTA and SUTA. The state contribution rate for the company is 3.1%. The amount withheld for federal income taxes is $6.995. The amount withheld for state income taxes is $1,010 a. Journalize the payment of the wages, and record the payroll taxes on September 15. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. Account Debit Credit 53,900 Payment of wages 781.55 Wage Expense FICA Taxes Payable-OASDI FICA Taxes Payable-HI 3,124.80 543.80 FUTA Taxes Payable SUTA Taxes Payable 10.22 Cash 160 Payroll taxes A Payment of the Wages, and the Payroll lowes Part B: Payment of Wages 6. Assume that the employees of Purnell, Inc. must also pay state contributions (disability insurance) of 1% on the taxable payroll of $24,100 and that the employees' contributions are to be deducted by the employer. Journalize the September 15 payment of wages, assuming that the state contributions of the employees are kept in a separate account. For a compound transaction, if an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. Date Account Debit Credit Sept. 15 Instructions Part A: Payment of the Wages, and the Payroll Taxes Part 3: Payment of Wages Instructions Examples The Journal entry to record the payroll from Figure 6.1, on pages 6-2 and 6-3, would be Debit Credit 24,762,70 Wages Expense FICA Taxes Payable-OASDI FICA Taxes Payable--HI 1,535.29 359,06 FIT Payable SIT Payable Group Insurance Payments W/H Cash 3,714.00 55.25 54.70 19,044.40 Example 6-7 The journal entry to record the payroll tax entry from Figure 6.1 on pages 6-2 and 6-3 would be assume a SUTA tax rate of 3.0%) Debit Credit Payroll Taxes 2,785.81 FICA Taxes Payable-OASOI 1,535.29 FICA Taxes Payable-HI 359.06 FUTA Taxes Payable 148.50 SUTA Taxes Payable 742.00 Purnell, Inc. has a semimonthly payroll of 553,900 on September 15, 20... The total payroll is taxable under FICA Taxes HD: 550,400 is taxable under FICA Taxes OASDI; and $7.500 istavat under PUTA and SUTA. The state contribution rate for the company is 3.1%. The amount withheld for federal income taxes is $6.995. The amount withheld for state income taxes is $1,010 a. Journalize the payment of the wages, and record the payroll taxes on September 15. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. Account Debit Credit 53,900 Payment of wages 781.55 Wage Expense FICA Taxes Payable-OASDI FICA Taxes Payable-HI 3,124.80 543.80 FUTA Taxes Payable SUTA Taxes Payable 10.22 Cash 160 Payroll taxes A Payment of the Wages, and the Payroll lowes Part B: Payment of Wages 6. Assume that the employees of Purnell, Inc. must also pay state contributions (disability insurance) of 1% on the taxable payroll of $24,100 and that the employees' contributions are to be deducted by the employer. Journalize the September 15 payment of wages, assuming that the state contributions of the employees are kept in a separate account. For a compound transaction, if an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. Date Account Debit Credit Sept. 15
