User Account

All Pages

Prepare the journal entry to record the employee payroll

Assignment Help Accounting Basics
Reference no: EM131786749

Sally's reports the following payroll information for September 2014

Type of Salary: Gross Pay Federal inc. tax withheld Savings Bond Witheld

Sales $10,000 $2,200 $200

Office 3,000 600 300

Total: 13,000 2,800 $500

Tax rate info:

SS 6.2%

Medicare 1.45%

State Income Tax 4.0%

Federal Unemployment 0.8%

State unemployment

Assume that all wages are subject to all payroll taxes

1. Prepare the journal entry to record the employee payroll

2. Prepare the journal entry to record the employer payroll entry

 

Reference no: EM131786749

Questions Cloud

Prepare the consolidation journal entries for december : Matthews Co. obtained ninety percent of the common stock of Jackson Co. on January 1, 2016. Prepare the consolidation journal entries for December 31, 2017.
What would be the cost of equity from new stock : If the company issued new stock, it would incur a 19% flotation cost. What would be the cost of equity from new stock? Round your answer to two decimal places.
Compute the total manufacturing costs for job : Job No. 176 is charged with $75,000 of direct materials costs and $90,000 of manufacturing overhead. The total manufacturing costs for Job No. 176 is
Report the percentage of people who are morbidly obese : Compare this with an estimate from 2005 that 3% of people in the United States at that time were morbidly obese.
Prepare the journal entry to record the employee payroll : Prepare the journal entry to record the employee payroll, Prepare the journal entry to record the employer payroll entry
What is the portfolio worth at the time of decision : On July 2, an American firm elected to close out its account at a British bank on August 28. The firm is expected to have 5 million British pounds.
Calculate the total indirect product costs : The Frosted pane Company, a manufacturer of fine windows and doors, Calculate the total indirect product costs
Demand for apartments in area : The area is composed exclusively of apartments and is populated by low-income residents. The people who live in the area tend to stay in that area because
Report the new labels for the vertical axis : When Billionaires Made Their First Million The histogram shows frequencies for the ages of 17 billionaires when they made their first million listed at inc.com.

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