Team Assignments Answers-Week 2

Team Assignments Answers-Week 2 - PROBLEM 13-3 Entries for...

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PROBLEM 13-3
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Entries for Payroll 1 Wages and Salaries Expense. ................................ 1,040.00 * Withholding Taxes Payable (10% X $1,040)*. ... 104.00 FICA Taxes Payable (7.65% X $1,040). .............. 79.56 Union Dues Payable (2% X $1,040). ................... 20.80 Cash. ..................................................................... 835.64 *$200 + $150 + $110 + $250 + $330 = $1,040 Payroll Tax Expense. ............................................... 94.74 FICA Taxes Payable (7.65% X $1,040). .............. 79.56 Federal Unemployment Tax Payable [.8% X ($200 + $150 + $110)]. ........................... 3.68 State Unemployment Tax Payable (2.5% X $460). ................................................... 11.50
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Entries for Payroll 2 and 3 Vacation Wages Payable. ........................................ 590.00* Wages and Salaries Expense. ................................ 450.00 Withholding Taxes Payable (10% X $1,040). .... 104.00 FICA Taxes Payable (7.65% X $1,040). .............. 79.56 Union Dues Payable (2% X $1,040). ................... 20.80 Cash. ..................................................................... 835.64 *($300 + $220 + $660) ÷ 2 Payroll Tax Expense. ............................................... 94.74 FICA Taxes Payable (7.65% X $1,040). .............. 79.56 Federal Unemployment Tax Payable (.8% X $460). ..................................................... 3.68
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State Unemployment Tax Payable (2.5% X $460). ................................................... 11.50 Entries for Payroll 4 Wages and Salaries Expense. ................................ 1,040.0 0 Withholding Taxes Payable (10% X $1,040). .... 104.00 FICA Taxes Payable (7.65% X $1,040). .............. 79.56 Union Dues Payable (2% X $1,040). ................... 20.80 Cash. ..................................................................... 835.64
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Team Assignments Answers-Week 2 - PROBLEM 13-3 Entries for...

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