Post a New Question

Accounting

posted by .

Here is another question I am having trouble with, please help!!!!

3. The following totals for the month of March were taken from the payroll registrar of
the X company:

Salaries (all subject to social
security & Medicare taxes $14,000
Federal income taxes withheld 3,500
Medical insurance deductions 700
Life insurance deductions 400
Salaries subject to unemployment taxes 11,000
Medicare tax rate 1.45%
Social security tax rate 6.20%

Prepare journal entries to record the following. Round amounts to the nearest dollar.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. history

    what are republicans view on social security. please helppp This is what i have so far:Workers will have choice to invest their payroll taxes. Anyone currently receiving Social Security, or close to it, will not be impacted by any …
  2. Business Maths

    Prior to the last weekly payroll period of the calendar year, the cumulative earnings of employees A and B are $99,350 and $91,000 respectively. Their earnings for the last completed payroll period of the year are $850 each. The amount …
  3. accounting

    I'm having trouble computing the accured salaries for appendix e of an assignment can you help. The accured slary for the month is 280 and the salary expense is 560
  4. Government US

    Which of the following is true of social security and Medicare?
  5. accounting

    Prepare a monthly Cash Budget in tabular form for the months of February, March and April; showing the bank balance at each month's end. Company Information and Background The following data is available from the various functional …
  6. accounting

    On November 30, the payroll register of Webster & Smith indicated the following information: Determine the amount of Social Security and Medicare taxes to be withheld. Round your answers to one decimal place. Social Security Tax=$ …
  7. accounting

    Joe makes $40,000 per year as an exempt employee. She worked 25 hours of overtime in the month of March. Payday for wages earned in the month of March is April 7. Ignoring Federal and State income tax withholdings, how much would he …
  8. fundamentals of accounting 1

    journalizing payroll transactions, for Keller Systems;Inc, paid cash for april's payroll tax liability. withheld taxes from april payrolls; employee income tax,$532.00; social security tax,$634.88; and medicare tax,$148.48. paid cash …
  9. accounting 1

    help with journalizing payroll transactions and filling on the cash payments journal, may 15, paid cash for april's payroll tax liability. withheld taxes from april payrolls; employee income tax,$532.00; social security tax,$634.88; …
  10. accounting 1

    help with journalizing payroll transactions and filling on the cash payments journal, may 15, paid cash for april's payroll tax liability. withheld taxes from april payrolls; employee income tax,$532.00; social security tax,$634.88; …

More Similar Questions

Post a New Question