User Account

All Pages

Journalize the entry to record the payroll tax expense

Assignment Help Financial Accounting
Reference no: EM13535165

Payroll entries

Widmer Company had gross wages of $240,000 during the week ended June 17. The amount of wages subject to social security tax was $240,000, while the amount of wages subject to federal and state unemployment taxes was $35,000. Tax rates are as follows:

Social security

6.0%

Medicare

1.5%

State unemployment

5.4%

Federal unemployment

0.8%

The total amount withheld from employee wages for federal taxes was $48,000.

a. Journalize the entry to record the payroll for the week of June 17.

b. Journalize the entry to record the payroll tax expense incurred for the week of June 17.

Reference no: EM13535165

Questions Cloud

Find through what potential difference did charge move : A uniform electric field of magnitude 226 V/m is directed in the negative y direction. Through what potential difference did the charge move
Effect of omitting adjusting entry : Effect of omitting adjusting entry - indicate whether the items in error will be overstated or understated.
State what is the final temperature of the system : A 455 g piece of copper tubing is heated to 89 degrees C and place in an insulated vessel containing 159 g of water at 22.8 degrees C. Assume no loss of water and heat capacity for the vessel of 10.0 J/K, what is the final temperature of the syste..
What is the electric field amplitude at this distance : A radio antenna broadcasts a 1.0 MHz radio wave with 28 kW of power. What is the electric field amplitude at this distance
Journalize the entry to record the payroll tax expense : Journalize the entry to record the payroll for the week of June 17 and journalize the entry to record the payroll tax expense incurred for the week of June 17.
Explain amine diastereomeric salt into its free amine : If 10.6 ml of (±)-a-phenylethylamine (MM=121.2 d=.94) are reacted with .083moles of (+)-tartaric acid then- a) How many grams of solid NaOH (MM=40.0) are needed to convert the(-)-amine diastereomeric salt into its free amine
Journalize the entry to record the payment of the payroll : Journalize the entry to record the payroll accrual and journalize the entry to record the payment of the payroll.
What is the waves electric field amplitude : The magnetic field of an electromagnetic wave in a vacuum is Bz=(2.5 microT)Sin(1.9*10^7 x-2(3.14)ft), where x is in m and t is in s. What is the wave's electric field amplitude
Define what pressure is needed to make the following changes : What pressure is needed to make the following changes. 130 mL of a dry gas at 740 torr to 150 mL.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Illustrate what is the journal entry should a government fun

Illustrate what is the journal entry should a government fund use to record $475,000 for police department salaries and wages during a particular month?

  What is the amount and character if buzz gain or loss

Buzz corporation sold an office building that it used in its business for $500,000. Buzz bought the building for ten years ago for 650,000 and has claimed 200,000 of depreciation expense what is the amount and character if Buzz's gain or loss?

  Aubrey inc issued 68 million of 9-year 9 percent

aubrey inc. issued 6.8 million of 9-year 9 percent convertible bonds on june 1 2011 at 98 plus accrued interest. the

  Purpose the journal entries

Purpose the journal entries needed in the Capital Projects Fund to account for the above transactions. Manage closing entries.

  Preparation of cash account and calculation of total

preparation of cash account and calculation of total assets.fieldstone inc. had the following transactions during the

  Concept of depreciation of plant assets through short

concept of depreciation of plant assets through short questions.1.nbspfor income statement purposes depreciation is a

  Find out kens gross income

Assume Ken’s modified adjusted gross income for purposes of the bond interest exclusion and for determining the taxability of his Social Security benefits is $70,000 and that Ken files as a single taxpayer. Find out Ken’s 2009 gross income

  Prepare the journal entries to record the liquidation

Journalizing the liquidation of a partnership firm - Prepare the journal entries to record the liquidation

  Costello corporation manufactures a particular product the

costello corporation manufactures a particular product. the standard cost per unit of product is shown below.direct

  Farman appliance mart began operations on may 1 it uses a

farman appliance mart began operations on may 1. it uses a perpetual inventory system. during may the company had the

  Prepare the entry to close over or underapplied overhead

A company allocates overhead at a rate of 140% of direct labor cost. Actual overhead cost for the current period is $745,000, and direct labor cost is $500,000. Prepare the entry to close over- or underapplied overhead to cost of goods sold

  Calculate required rate of return for each stock using capm

Calculate the expected rate of return for each stock using the Gordon growth model and calculate the required rate of return for each stock using the CAPM.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd