Business, 24.03.2021 22:00 icantspeakengles

Oliver Cat Emporium had the following information for their payroll for the week ended March 23: earned wages and salaries of $45,000. All of that week's pay is subject to FICA social security taxes of 6.2% on the first $128,400 of earnings each calendar year and Medicare taxes of 1.45% on all earnings. In addition, the company withholds the following amounts for this weekly pay period: $2,200 for medical insurance, $6,500 for federal income taxes, and $675 for pet insurance. a. Prepare the general journal entry to accrue the payroll.
b. The company is subject to state unemployment taxes at the rate of 3.4% and federal unemployment taxes at the rate of 0.6%. Prepare the general journal entry to accrue the employer's payroll tax expense. (Round your calculations to the nearest dollar).

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 04:00

Match the type of agreements to their descriptions. will trust living will prenuptial agreement

Answers: 2

Answer

Business, 22.06.2019 05:20

Social computing forces companies to deal with customers as opposed to

Answers: 2

Answer

Business, 22.06.2019 22:00

On january 8, the end of the first weekly pay period of the year, regis company's payroll register showed that its employees earned $22,760 of office salaries and $70,840 of sales salaries. withholdings from the employees' salaries include fica social security taxes at the rate of 6.20%, fica medicare taxes at the rate of 1.45%, $13,260 of federal income taxes, $1,450 of medical insurance deductions, and $860 of union dues. no employee earned more than $7,000 in this first pay period. required: 1.1 calculate below the amounts for each of these four taxes of regis company. regis’s merit rating reduces its state unemployment tax rate to 3% of the first $7,000 paid to each employee. the federal unemployment tax rate is 0.60

Answers: 3

Answer

Business, 23.06.2019 02:00

Which of the following is the best example of substitution? a. movie producers begin making more comedies because they cost less to make than action films. b. people walk out before the end of a movie because the acting and the plot are terrible. c. people at the movie theater switch from popcorn to candy because popcorn has gotten too expensive. d. more people begin going to matinee movies instead of night movies to save money on the tickets.

Answers: 2

Answer

You know the right answer?

Oliver Cat Emporium had the following information for their payroll for the week ended March 23: ear...

Questions