User Account

All Pages

Prepare the journal entries to record payment of beths wages

Assignment Help Accounting Basics
Reference no: EM131798989

Beth Corbin's regular hourly wage rate is $14, and she receives an hourly rate of $21 for work in excess of 40 hours. During a January pay period, Beth works 45 hours. Beth's federal income tax withholding is $96, she has no voluntary deductions, and the FICA tax rate is 7.65%. Use January 15 for the end of the pay period and the payment date.

Prepare the journal entries to record (a) Beth's pay for the period and (b) the payment of Beth's wages. (Round your answers to 2 decimal places, e.g. 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No. Date Account Titles and Explanation Debit Credit
(a)  Jan. 15 Salaries and Wages Expense 665  
Salaries and Wages Payable   519.13
FICA Taxes Payable   50.87
Federal Income Taxes Payable   95
(b)  Jan. 15 Payroll Tax Expense 50.87  
FICA Taxes Payable   50.87

Reference no: EM131798989

Questions Cloud

What can leaders do to be effective : What can leaders do to be effective when team members are from different cultures and have different expectation about how the leader should behave?
Analysis of variance experiment : A completely randomized design of an analysis of variance experiment produced a portion of the following ANOVA table.
What is an intranet and extranet : What is an intranet, extranet? What are less-developed nations, developed nations, globalization, multinational corporations, transnational corporations?
What effect would accepting this order have on net income : What effect would accepting this order have on the company's net operating income if a special price of $370 is offered per bracelet for this order
Prepare the journal entries to record payment of beths wages : Credit account titles are automatically indented when amount is entered
Differences of the means using fisher : On a recent Monday morning between the hours of 7:00 AM and 8:00 AM, the following statistics were obtained relating to average time per order (in seconds):
How would you develop a recruitment-and-selection process : How would you develop a recruitment-and-selection process that would most successfully allow you to hire the best workers for your particular culture?
Reflect on why you think the unit chose the model it uses : Reflect on why you think the unit chose the model it uses. What are the advantages and disadvantages of the model chosen by the unit?
What are five conditions that make whistle-blowing ethical : What are 7 steps of a compliance program? What is bribery?What is a whistle-blower?What are 5 conditions that make whistle-blowing ethical?

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

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