What is the total payroll tax liability

Assignment Help Accounting Basics
Reference no: EM132652712

Problem - Sonia Company reported gross payroll of P600,000 for the month of January. The entity paid the payroll net of the following deductions:

Income tax 70,000

SSS 10,000

Philhealth 5,000

Pagibig 7,000

In addition, the entity recognized its additional contributions for the following in relation to January payroll:

SSS 15,000

Philhealth 6,000

Pagibig 8,000

Required - What is the total payroll tax liability?

Reference no: EM132652712

Questions Cloud

Describe industry strategically relevant macro-environment : Description of the industry's strategically relevant macro-environmental components, evaluates competition in the industry, assesses drivers of change
Why is important to understand the concepts of inflation : What are some of the important terms and concepts that managers must understand in making decisions in today's global environment?
What is the current price of cypress common shares : Given this information, what is the current price of Cypress common shares?
Significance of due process and equal protection clauses : Explain the significance of the Due Process and Equal Protection Clauses to the public community. Provide an example different from the textbook.
What is the total payroll tax liability : Sonia Company reported gross payroll of P600,000 for the month of January. What is the total payroll tax liability
Protection and rights : Discuss whether equal protection really changes and whether or not the 2008 presidential election expedited this timeline.
Relevant reasons for low voter turnout in local elections : Discuss what you believe are the two most relevant reasons for low voter turnout in local elections compared to national elections
What is the maximum amount she can contribute : If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to a simplified employee pension (SEP) IRA for 2018
Regarding political ideologies : By now, you have gained some insight regarding political ideologies and how they are applied to American government.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discuss what should you do if the president suggests

What should you do if the president suggests that these actions are taken in every division of 321

  Lane confectioners produces special orders of sugar candies

lane confectioners produces special orders of sugar candies and chocolates for airlines and hotels. during march lane

  At what amount would the lease obligation be presented

At what amount would the lease obligation be presented on the balance sheet as of December 31, 2017? Round answers to the nearest whole dollar

  Company uses the weighted-average method

Materials are included at the start of the production process but conversion costs are uniformly applied throughout the production process. The following data about the Packaging Department were taken from the company's accounting records:

  On the basis of the information above do you agree with the

complete the following two questions. submit journal entries in an excel file and written segments in an ms word

  In 2012 carson is claimed as a dependent on his parents tax

in 2012 carson is claimed as a dependent on his parents tax return. his parents ordinary income marginal tax rate is 28

  What are margin and turnover

What are margin and turnover? Explain how these concepts can improve the evaluation of an investment center

  Current liabilities are expected to be settled within

Bonds that have an option exercisable by the issuer to retire them at a stated dollar amount prior to maturity are known as

  Yu have been assigned to the audit of moroney ltd a large

you have been assigned to the audit of moroney ltd a large manufacturing company. the audit strategy indicates that a

  Determine the correct amount of net income for april

Journalize the entries to record the omitted adjustments.

  Create a bank reconciliation for dylan company at april

Bank Reconciliation Use the following information to create a bank reconciliation for Dylan Company at April 30: Balance per Cash account, April 30, $6,042.10

  What accounting standards were being violated

Utilizing two Professional Resources (such as PCAOB or FASB codification), specifically apply elements of each to the Enron Scandal. What accounting standards.

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