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Manal Elkhoshkhany
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(Payroll tax entries) Cedarville Company pays its office employee

Customer Question

(Payroll tax entries) Cedarville Company pays its office employee payroll weekly. Below is a partial list of employees and their payroll data for August. Because August is there vacation period, vacation pay is also listed.
Employee: Earnings to July 31: Weekly Pay: Vacation Pay to Be Received in August:
Mark Hamill $4,200 $200 _
Karen Robbins 3,500 150 $300
Brent Kirk 2,700 110 220
Alec Guinness 7,400 250 _
Ken Sprouse 8,000 330 600
Assume that the federal income tax withheld is 10% of wages. Union dues are 2% of wages. Vacations are taken the second and third weeks of August by Robbins, Kirk, and Sprouse. The state unemployment tax rate is 2.5% and the federal is 0.8%, both on a $7,000 maximum. The F.I.C.A. rate is 7.65% on employee and employer on a maximum of $102,000 per employee. In addition, a 1.45% rate is charged both employer and employee for an employee’s wages in excess of $102,000.
Instructions:
Make the journal entries necessary for each of the four August payroll and for the company’s liability are made separately. Also make the entry to record the monthly payment of accrued payroll liabilities.
Submitted: 6 years ago.
Category: Homework
Expert:  Manal Elkhoshkhany replied 6 years ago.

Hello

 

Please advise if this question is from the book or not as I cannot make out the data the way it is posted

 

Thank you

Expert:  Manal Elkhoshkhany replied 6 years ago.
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Expert:  Manal Elkhoshkhany replied 6 years ago.

Hello

 

Is there anything unclear?

Expert:  Manal Elkhoshkhany replied 6 years ago.
Thank you for the accept. Are you using the 13e?

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