The rooms department has the following expenses:
salaries $7,000
wages 10,000
employee meals 200
health insurance premium 2,000
workers compensation insurance 800
payrool taxes - federal 1,600
payroll taxes - state 1,000
prepare the payroll and related expenses section for the rooms department schedule
The rooms department has the following expenses:
salaries $7,000
wages 10,000
employee meals 200
health insurance premium 2,000
workers compensation insurance 800
payrool taxes - federal 1,600
payroll taxes - state 1,000
prepare the payroll and related expenses section for the rooms department schedule
Related questions
PROBLEM #2 â Can someone help me understand this? Thanks!
Presented below are the employee payroll records of the Bronsan Company for the week ending November 15, 20XX:
| Employeeâs Name | YTD Earnings | Curr Week Gross Pay | Fed Inc Tax | Medical Ins Ded. |
| R. Hawn | $ 25,700 | $ 800 | $ 155 | $ 35 |
| D. Hopkins | 930 | 800 | 134 | 35 |
| R. Allen | 86,900 | 1,000 | 193 | 42 |
| A. Ingram | 18,400 | 740 | 128 | 42 |
Employeeâs FICA taxes are withheld at a rate of 6.2% on the first $87,000 earned for Social Security and 1.45% of all wages for Medicare. Assume a state unemployment tax rate of 5.4% and a federal unemployment tax rate of 0.8% on the first $7,000 for each employee. Prepare the payroll register for the pay period and then prepare the necessary journal entries to record the payroll and payroll taxes.
(Hint: Remember to prepare both employee payroll taxes and employer payroll taxes.)
Payroll Register
| Employee | Gross Pay | Fed Inc Tax | Soc Sec Tax | Medicare Tax | Insurance | Net Pay |
General Journal
| Date | Description | Debit | Credit |
21. Employer taxes include all the followingexcept:
Federal Unemployment Tax
Social Security and MedicareTax
State Unemployment Tax
Federal Income TaxWithholdings
Record payroll Record time-basedactivities Track sales invoices |
Owners' Equity, Assets Liability, Expenses Assets, Expenses |
Click on the Excel icon Use the Word macro Click on Open the file |
Health insurance expense State unemployment taxexpense Worker's compensation taxexpense |
Other Current Assets Income Expenses |
Customer Invoice window Purchases window Statement of ownersâequity |
Jobs Earnings Report Balance Sheet Job Profitability Report |
Inventory accounts Copying, faxing, courtfees Research, consultants, writingreports |
| Question 30. 30. The employer payroll taxexpense on employee wages that is paid for funding statecompensation for unemployed workers is the: |
Social Security andMedicare tax expense
Federal Unemployment Tax(FUTA. Expense)
State Unemployment Tax (SUTA.Expense)
Worker's Compensationexpense
