Namsky Co. has the following information for the pay period of December 15 - 31: Gross Payroll $14,000 Federal Income Tax Withheld $2,600 Social Security Rate 6% Federal Unemployment Tax Rate 0.8% Medicare Rate 1.5% State Unemployment Tax Rate 5.4% Assuming no employees are subject to ceilings for taxes on their earnings, Salaries Payable would be recorded for: a. $14,000 b. $10,350 c. $9,350 d. $10,238

Q: Selected data from a February payroll register for Vaughn Company are presented below. Some amounts…

A: Formula: Total deductions = FICA tax + Federal Income tax + State income tax + Union due. Sum of…

Q: The following totals for the month of April were taken from the payroll register of Magnum Company:…

A: Journal entry for Payroll tax expense: Date Description Debit  Credit    Payroll tax…

Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…

A: Social security tax deduction = Gross payroll x Social security rate = $19,352 x 6% = $1161.12…

Q: At the end of each month, a company pays its employees. Payroll information below is for January,…

A: When a company records the compensation of its employees, such type of accounting is known as…

Q: The payroll register for Gamble Company for the week ended April 29 indicated the following:…

A: Journal entry refers to the recording made by the business in the books of accounts, of all the…

Q: According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Social Security Tax Payable  = Gross salaries x Social security tax rate = $352,000*6% = $21,120…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: Widmer Company had gross wages of $226,000 during the week ended June 17. The amount of wages…

A: Social Security Tax Payable = Gross wages x Social security tax rate Medicare Tax Payable = Gross…

Q: Portions of the payroll register for Barney's Bagels for the week ended July 15 are shown below. The…

A: Employer Payroll tax expense = Social Security tax + Medicare tax + FUTA tax + SUTA tax

Q: The payroll register of Ruggerio Co. indicates $13,920 of social security withheld and $3,480 of…

A: Journal entry to record the payroll tax expense for the period: Date Description Debit Credit…

Q: Assuming no employees are subject to ceilings for their earnings, Jenkins  Company has the following…

A: Social security and Medicare tax rates are based on gross payroll. The federal income tax withheld,…

Q: 9. Oates Company's payroll for the week ending January 15 amounted to $50,000 for Office Salaries…

A: Payroll taxes are the taxes collected from the employers by the government. It is the tax that is…

Q: Widmer Company had gross wages of $155,000 during the week ended June 17. The amount of wages…

A: Social Security tax payable = wages subject to social security tax ×6% = $139,500 × 6% = $8370

Q: EL Payroll Entries Widmer Company had gross wages of $153,000 during the week ended June 17. The…

A: Payroll costs are business costs of salaries and wages being paid to employees. Until payroll…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Social Security Tax Payable  = Gross salaries x Social security tax rate = $352,000*6% = $21,120…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Date Accounts title and explanation Debit ($) Credit ($) Dec-30 Sales salaries expense $ 350,000…

Q: Highridge Homes has the following payroll information for the week ended February 21: Name…

A: Following is the summary of gross pay:

Q: Lee Company has the following information for the pay period of December 15–31: Gross payroll…

A: Given that: Gross payroll = $15416 Social security taxes = 6% Medicare rate = 1.5% Federal income…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Social Security Tax Payable  = Gross salaries x Social security tax rate = $352,000*6% = $21,120…

Q: NEP Corp. has 15 employees each working 40 hours per week and earning $30 an hour. Federal income…

A: A payroll tax is a percentage levied by the state or federal government on the employee's salary,…

Q: Urban Window Company had gross wages of $320,000 during the week ended July 15. The amount of wages…

A: The employer withholds the Employees Federal Income Tax payable from their Wages. The employer…

Q: The payroll registers for Schmidt Company for the week ended April 29 indicated the following:…

A:

Q: Jones Corporation pays its employees monthly. The following information is available for the January…

A: Given the following information: Gross wages: $70,000 FICA rate: 8% Unemployment taxesFederal:…

Q: Lee Company has the following information for the pay period of December 15–31: Gross payroll…

A: Option “c” is the correct option.

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Salary expense include basic salary and all type of allowance provided by the company in addition to…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Answer a:

Q: Lee Company has the following information for the pay period of December 15–31: ​ Gross payroll…

A: Social Security tax payable = Gross payroll x Social security rate = 16,000 x 6% = 960

Q: The following totals for the month of April were taken from the payroll register of Magnum Company:…

A: Journal entry is the primary chronicling of the transactions in the books.

Q: The payroll register for Gamble Company for the week ended April 29 indicated the following:…

A: Journal: Recording of a business transactions in a chronological order.

Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…

A: Federal income taxes are imposed in USA. The income tax is determined by applying tax rate which…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: Social Security Tax Payable  = Gross salaries x Social security tax rate = $352,000*6% = $21,120…

Q: 1)Chester Company reported payroll for the month of January 2022 as follows: Total Wages Income…

A: The payroll tax liability is the total amount of the tax that is company liable for before any…

Q: The payroll register for Gamble Company for the week ended April 29 indicated the following:…

A: A.Prepare journal entry to record the payroll for the week of April 29.

Q: ) Journalize the payroll entry for the week. DATE   Debit Credit X/X…

A:

Q: The payroll register of Clapton Co. indicates $11,340 of social security withheld and $2,835 of…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: Assuming no employees are subject to ceilings for their earnings, Harris Company has the following…

A: Salaries payable are calculated by deducting social security rate, Medicare rate and Federal income…

Q: Widmer Company had gross wages of $162,000 during the week ended June 17. The amount of wages…

A: Social Security tax = Social Security Taxable Earnings x Social Security tax rate = $145,800*6.00% =…

Q: In January, gross earnings in Coronado Company were $36,000. The 7.65% FICA tax rate consists of the…

A: Payroll tax is defined as the percentage that is withheld from the pay of the employee through…

Q: Recording Payroll and Payroll Taxes Manchester, Inc., had the following payroll for March:…

A: Salaries expense = Office salaries + Sales salaries = $ 390000 +$ 650000 = $ 1040000

Q: The payroll register for Schmidt Company for the week ended April 29 indicated the following:…

A: Journal entries for recording the payroll and payroll tax for April 29.

Q: Bart Consulting Firm has the following payroll information for the week ended March 20th: Name…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: In January, gross earnings in Concord Company totaled $88,000. All earnings are subject to 7.65%…

A: Formulas:

Q: The following totals for the month of April were taken from the payroll register of Magnum Company.…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: The following totals for the month of April were compiled from the payroll data of Magnum Company:…

A: Date Accounts Debit Credit   Payroll Tax Expense $1,170           FICA taxes Payable   $750…

Q: The following information about the payroll for the week ended December 30 was obtained from the…

A: PLEASE LIKE THE ANSWER, YOUR RESPONSE MATTERS    1) Preparing the Journal Entries for the Payroll…

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following:…

A: Payroll tax expenses are the expenses which is related to payroll of an employee deduct by the…

Q: The payroll register for Gamble Company for the week ended April 29 indicated the following:…

A: When a company records the compensation of its employees, such type of accounting is known as…