Prepare the journal entry to record the payroll tax expense

Assignment Help Accounting Basics
Reference no: EM132471010

The payroll register of Seaside Architecture Company indicates $870 of Social Security and $224 of Medicare tax withheld on total salaries of $14,500 for the period. Assume earnings subject to state and federal unemployment compensation taxes are $5,300 at the federal rate of 0.8% and state rate of 5.4%.

Question 1: Prepare the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. If required, round your answers to two decimal places.

Reference no: EM132471010

Questions Cloud

What amount in september would excom debit product warranty : For What amount in September would Excom debit Product Warranty Expense? Round your answer to the nearest whole dollar.
Nursing leadership-management roles : What are some nursing leadership/management roles and how are they important to responding to emerging trends and patient saftey/quality care?
Describe about both jefferson approach and madison logic : In Marbury v. Madison, describe and comment about both Jefferson's approach and Madison's logic, and weigh the options. Which arguement do you find the most.
How the incorporation of a global perspectiveor lens : Explain how the incorporation of a global perspectiveor lens (as in global health issue) into your local practice and role as a nurse leader.
Prepare the journal entry to record the payroll tax expense : Determine and Prepare the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank.
Explain why a public administrator should not conclude : Based upon the "rule of law" and its limits on public administrators, explain why a public administrator should not conclude that they can alter human behavior.
What is the difference between fat-soluble : What is the difference between fat-soluble and water-soluble vitamins in deficiency and toxicity levels? How do deficiencies and toxicities occur for each?
Determine the internal rate of return for each project : What additional factors, beyond the quantitative analysis should Ashley take into consideration in making her recommendations?
Address problems in patient management : Consultation is a strategy to seek the () of a specialist provider or educator to address problems in patient management or implementation of treatments.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

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