Which of the following information is contained in a payroll register? 8 - Explain what an employer does with the amounts... Ch. The payroll journal entry is based on the totals of what columns in the payroll register total earnings column, each deduction column and net pay column what is the total earnings column total of a payroll register journalized as a debit to what 8 - Identify the three payroll records usually needed... Ch. The following totals for the month of June were taken from the payroll register of Arcon Company. Index: Chapter 9 Chapter 10 Chapter 11 Chapter 12 Chapter 13 Chapter 14 Chapter 15 Chapter 16 Chapter 9 Chapter 9 -Essential Questions: Why are adjustments journalized? What is a Payroll Register? Payroll register Records amount paid to employees during each pay period. As such the right option is a)what wages will be taxed. Observing the distribution of paychecks. 10. The check is deposited in the payroll account, and all To enter the payroll records, click on the Pay Employees task from the left menu bar. Salaries expense: $14,000 Social Security and Medicare taxes withheld: $1,050 Otherwise, pursuing employees to complete their timesheets will delay the payroll. C. Payroll registe… Record of overtime rate and earnings. The actual tax is a percentage of the taxable earning. Textbook solution for Accounting (Text Only) 26th Edition Carl Warren Chapter 11 Problem 11.12EX. Create a free account The following totals for the month of April were taken from the payroll register of Tapper Company. These taxes are an added expense over and above the expense of an employee's gross pay. Audit Test - October 9 Payroll (Use the payroll file you saved under filename 10-09 your name to answer the following questions for the October 9 payroll.) "Answers to student project audit test in Payroll Accounting 2011. The following totals for the month of June were taken from the payroll register of Arcon Company: Salaries expense $ 14,200.00 Social security and Medicare taxes withheld 1,065.00 Income taxes withheld 345.00 Retirement savings 503.00 The entry to … The entry to record the accrual of employer’s payroll taxes would include a A. debit to Payroll Taxes Expense for $2,498B. Companies are responsible for paying their portion of payroll taxes. A period of service for which an employer usually pay wages 4. The calculation steps for payroll are as follows: Notify employees. This payroll transaction has been entered for you in the payroll register, the employees’ earnings records, the general journal, and the general ledger. Employer Payroll Taxes. Social Security tax is 6.2% on the first $128,400 of earnings for each employee. 7-3aOctober 9, 20--. Employee number. b. Footing and crossfooting the payroll register. Obtain timesheets from all employees. Employee social security number. Start of Payroll Project. The social security tax rate is 6.0%, and Medicare tax is 1.5% of each employee’s annual earnings. C) Because payroll represents a liability and an expense of the business. On January 8, the end of the first weekly pay period of the year, Royal Company's payroll register showed that its employees earned $27,760 of office … Create a free account to save it. Record The Health Insurance Deduction. We have step-by-step solutions for your textbooks written by Bartleby experts! In This Last Task, The Following Steps Will Be Completed. d. Recalculating payroll accruals. The higher payroll expenses are, the lower the profitability will be. 6. (Round your answers to 2 decimal places.) Tell employees to complete their timesheets by the close of business on the last day of the payroll period. Payroll tax return Prepare tax form for submission to relevant government agency. Employee Grosspay Payroll Register Chinson EERF Wayland EERF PeppinicoVarden EERF Hissop EERF Success EERF General Journal General Ledger EERF Complete the General Journal entries for the December 15 payroll. Payroll register: Includes all payroll transactions during a certain period of time, employee names, pay dates, payment amounts, etc. No. The primary journal entry for payroll is the summary-level entry that is compiled from the payroll register, and which is recorded in either the payroll journal or the general ledger. You may also need to pull reports for deductions, contributions, and other benefits. They're taxes not withheld from an employee's paycheck and not remitted by the employer. The entry to record accrual of employer's payroll taxes would include a: a. credit to Payroll Tax Expense for $420. Edition. Regular rate and amount earned. 9. 8. 8 - Describe the information contained in the payroll... Ch. The payroll register lists information about each employee for things such as gross pay, net pay, and deductions. debit to Social Security and Medicare Tax Payable for $2,250 C.debit to Payroll Taxes Expense for $1,373D. After the checks are printed, the payroll department manager uses an automatic check-signing machine to sign the checks. It forms the appropriate base on which the tax percentage is applied. The signature plate is kept locked in a safe. The difference between payroll register and paycheck history reports The taxable earning column therefore records the wage to be taxed. 11/1/2015 Accounting Chapter 11 flashcards | Quizlet 1/3 Accounting Chapter 11 15 terms by GirlsOfIntegrity Like this study set? The NWT payroll tax is usually shown on the employee’s pay stub as a deduction from gross pay. NWT payroll tax is a 2 per cent tax on income that you earn as an employee working in the NWT. The register also lists the totals for all employees combined during the period. Ch. b. debit to Payroll Tax Expense for $1,620. After the payroll has been prepared, a check is written to transfer the total net pay amount from the regular checking account of a business to its payroll checking account. a.number of withholding allowances, total earnings, deductions from total earnings, and net pay for each employee b.name of each employee and marital status c.period covered by the payroll d.All of these choices are correct. Payroll registers contain specific information about each employee's pay period disbursements. A payroll register is a report that summarizes the payments made to employees as part of a payroll. Question: Continuing Payroll Problem, 6B: Chapter 6 You Have Almost Completed The Olney Company's Employee Payroll Register For The Pay Period Ending January 8, 20--. multicolumn report used for summarizing the data for each payroll period. Instructions 1. Payroll tax report: Shows a breakdown of the taxes you withheld from employee wages, plus taxes you owe as an employer.
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