My Favorite Movie

1. A companys giveroll information for the month of may follows: administrative salaries| $2,000| gross sales salaries| 3,500| Shop wages| 4,000| FICA taxes withheld| 700| national income taxes withheld| 1,300| medical checkup redress premiums withheld| 415| league dues withheld| 205| | | On May 31 the company issued strike sullen No. 335 succumbable to the payroll Bank Account to pay for the May payroll. It issued payroll checks to the employees after depositing the check. (1) Prep atomic number 18 the journal ledger entrance to record (accrue) the employers payroll for May. (2) rear the journal entry to pay for the May payroll. The federal and pronounce unemployment tax rates are 0.8% and 5.4%, respectively, on the first $7,000 compensable to each employee-the wages and salaries affair to these taxes were $6,000. (3) Prepare the journal entry to record the employers payroll taxes.

assist: May| 31| administrative Salaries write off| 2,000| | | | Sales Salaries Expense| 3,500| | | | Shop final payment Expense| 4,000| | | | FICA Taxes account payable| | 700| | | Federal Income Taxes payable| | 1,300| | | Employee Medical Insurance payable| | 415| | | Employee Union Dues Payable| | 205| | | increase Payroll Payable| | 6,880| | | | | | | 31| Accrued Payroll Payable| 6,880| | | | gold| | 6,880| | | | | | | 31| Payroll Taxes Expense| 1,072| | | | FICA Taxes Payable| | 700| | | Federal Unemployment Taxes Payable*| | 48| | | State Unemployment Taxes Payable*| | 324| | | | | | | | *$6,000 x 0.008 = $4 8.| | | | | *$6,000 x 0.054 = $324.| | | ! 2. A companys employer payroll taxes are 0.8% for federal unemployment taxes, 5.4% for state unemployment taxes, 6.2% for FICA neighborly auspices taxes on earnings up to $87,000, and 1.45% for FICA Medicare taxes on all...If you indispensability to fuss a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper