question 12 On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $24,760 o
Posted: Fri Jul 01, 2022 8:41 am
question 12
On January 8, the end of the first weekly pay period of theyear, Regis Company's employees earned $24,760 of office salariesand $70,840 of sales salaries. Withholdings from the employees'salaries include FICA Social Security taxes at the rate of 6.2%,FICA Medicare taxes at the rate of 1.45%, $13,660 of federal incometaxes, $1,350 of medical insurance deductions, and $880 of uniondues. No employee earned more than $7,000 in this firstperiod.Required:1-a. Calculate below the amounts for each ofthese four taxes of Regis Company. Regis’s state unemployment taxrate is 5.4% of the first $7,000 paid to each employee. The federalunemployment tax rate is 0.6%.1-b. Prepare the journal entry to recordRegis Company's January 8 employee payrollexpenses and liabilities.2. Prepare the journal entry to recordRegis’s employer payroll taxes resulting fromthe January 8 payroll. Regis’s state unemployment tax rate is 5.4%of the first $7,000 paid to each employee. The federal unemploymenttax rate is 0.6%.
Req 1A Req 1B Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemplo the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Round your a places.) Tax FUTA SUTA FICA-Social Security FICA-Medicare Req 2 Regis Company's: January 8 Earnings Subject to Tax Tax Rate < Req 1A Tax Amount Req 1B >
Journal entry worksheet 1 Record the employee payroll expenses and liabilities for the first weekly pay period of the year. Note: Enter debits before credits. Date January 08 General Journal Debit Credit
Journal entry worksheet 1 Record the employer's payroll expenses and liabilities for the first weekly pay period of the year. Note: Enter debits before credits. Date January 08 Record entry General Journal Clear entry Debit Credit View general journal
On January 8, the end of the first weekly pay period of theyear, Regis Company's employees earned $24,760 of office salariesand $70,840 of sales salaries. Withholdings from the employees'salaries include FICA Social Security taxes at the rate of 6.2%,FICA Medicare taxes at the rate of 1.45%, $13,660 of federal incometaxes, $1,350 of medical insurance deductions, and $880 of uniondues. No employee earned more than $7,000 in this firstperiod.Required:1-a. Calculate below the amounts for each ofthese four taxes of Regis Company. Regis’s state unemployment taxrate is 5.4% of the first $7,000 paid to each employee. The federalunemployment tax rate is 0.6%.1-b. Prepare the journal entry to recordRegis Company's January 8 employee payrollexpenses and liabilities.2. Prepare the journal entry to recordRegis’s employer payroll taxes resulting fromthe January 8 payroll. Regis’s state unemployment tax rate is 5.4%of the first $7,000 paid to each employee. The federal unemploymenttax rate is 0.6%.
- Question 12 On January 8 The End Of The First Weekly Pay Period Of The Year Regis Company S Employees Earned 24 760 O 1 (26.9 KiB) Viewed 31 times
- Question 12 On January 8 The End Of The First Weekly Pay Period Of The Year Regis Company S Employees Earned 24 760 O 2 (20 KiB) Viewed 31 times
- Question 12 On January 8 The End Of The First Weekly Pay Period Of The Year Regis Company S Employees Earned 24 760 O 3 (21.57 KiB) Viewed 31 times
Journal entry worksheet 1 Record the employee payroll expenses and liabilities for the first weekly pay period of the year. Note: Enter debits before credits. Date January 08 General Journal Debit Credit
Journal entry worksheet 1 Record the employer's payroll expenses and liabilities for the first weekly pay period of the year. Note: Enter debits before credits. Date January 08 Record entry General Journal Clear entry Debit Credit View general journal