b Interest Expense 828 Interest Payable 828 Interest on notes 13500 8 46360 6

B interest expense 828 interest payable 828 interest

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b. Interest Expense ........................................................ 828 Interest Payable .................................................... 828 Interest on notes, $13,500 × 8% × 46/360 × 6.
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Prob. 11–2A 1. a. Dec. 30 Sales Salaries Expense ................................. 320,000 Warehouse Salaries Expense ....................... 84,500 Office Salaries Expense ................................ 155,500 Employees Income Tax Payable ............. 109,760 Social Security Tax Payable .................... 28,560 Medicare Tax Payable .............................. 8,400 Bond Deductions Payable ....................... 16,400 Group Insurance Payable ........................ 24,690 Salaries Payable ....................................... 372,190 b. Dec. 30 Payroll Tax Expense ...................................... 37,650 Social Security Tax Payable .................... 28,560 Medicare Tax Payable .............................. 8,400 State Unemployment Tax Payable .......... 570 Federal Unemployment Tax Payable ..... 120 1 $15,000 × 3.8% 2 $15,000 × 0.8% 2. a. Dec. 30 Sales Salaries Expense ................................. 320,000 Warehouse Salaries Expense ....................... 84,500 Office Salaries Expense ................................ 155,500 Employees Income Tax Payable ............. 109,760 Social Security Tax Payable .................... 33,600 Medicare Tax Payable .............................. 8,400 Bond Deductions Payable ....................... 16,400 Group Insurance Payable ........................ 24,690 Salaries Payable ....................................... 367,150 3 $560,000 × 6% 4 $560,000 × 1.5% b. Jan. 4 Payroll Tax Expense ...................................... 67,760 Social Security Tax Payable .................... 33,600 Medicare Tax Payable .............................. 8,400 State Unemployment Tax Payable .......... 21,280 Federal Unemployment Tax Payable ..... 4,480 5 $560,000 × 3.8% 6 $560,000 × 0.8%
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Prob. 11–3A 1. Gross Federal Income Social Security Medicare Employee Earnings ** Tax Withheld Tax Withheld Tax Withheld Arnold $ 44,800 $ 9,856 $ 2,688 $ 672 Charles 103,200 24,768 6,000* 1,548 Gillam 50,000 9,500 3,000 750 Nelson 45,600 8,208 2,736 684 Quinn 6,600 1,221 396 99 Ramirez 27,200 4,760 1,632 408 Wu 105,800 26,450 6,000 * 1,587 $22,452 $5,748 *$100,000 maximum × 6% **The gross earnings are determined by multiplying the monthly earnings by the number of months of employment based upon the date of hire. 2. a. Social security tax paid by employer ....................................... $22,452.00 b. Medicare tax paid by employer ................................................. 5,748.00 c. Earnings subject to unemployment compensation tax, $9,000 for all employees except Quinn, who has only $6,600 in gross earnings. Thus, total earnings subject to SUTA and FUTA are $60,600 [(6 × $9,000) + $6,600]. State unemployment compensation tax: $60,600 × 3.8% ...... 2,302.80 d. Federal unemployment compensation tax: $60,600 × 0.8%. . 484 .80 e. Total payroll tax expense .......................................................... $30,987 .60
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Prob. 11–4A 1. 2008 Dec. 12 Sales Salaries Expense ................................. 3,666.50 Office Salaries Expense ................................ 2,600.00 Delivery Salaries Expense ............................ 1,959.00 Social Security Tax Payable .................... 493.53 Medicare Tax Payable .............................. 123.39 Employees Income Tax Payable ............. 1,402.06 Medical Insurance Payable ..................... 469.20 Salaries Payable ....................................... 5,737.32 2. Dec. 12 Salaries Payable ............................................ 5,737.32 Cash ........................................................... 5,737.32 3. Dec. 12 Payroll Tax Expense ...................................... 664.92 Social Security Tax Payable .................... 493.53 Medicare Tax Payable .............................. 123.39 State Unemployment Tax Payable .......... 38.40* Federal Unemployment Tax Payable ..... 9.60** *$1,200 × 3.2% **$1,200 × 0.8% 4. Dec. 15 Employees Income Tax Payable .................. 1,402.06 Social Security Tax Payable ......................... 987.06 Medicare Tax Payable ................................... 246.78 Cash ........................................................... 2,635.90
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Prob. 11–5A 1. PAYROLL FOR WEEK ENDING December 7, 2008 EARNINGS DEDUCTIONS PAID ACCOUNTS DEBITED Name Total Hours Regular Overtime Total Social Security Tax Medicare Tax Federal Income Tax U.S. Savings Bonds Total Net Amount Ck. No. Sales Salaries Expense Office Salaries Expense A 38 608 608 36.48 9.12 109.44 155.04 452.96 981 608 B 44 1,000 150 1,150 69.00 17.25 241.50 20.00 347.75 802.25 982 1,150 C 46 1,200 270 1,470 88.20 22.05 338.10 20.00 468.35 1,001.65 983 1,470 D 40 480 480 28.80 7.20 81.60 35.00 152.60 327.40 984 480 E 30 300 300 18.00 4.50 36.00 10.00 68.50 231.50 985 300 F 1,100 66.00 16.50 242.00 324.50 775.50 986 1,100 G 41 960 36 996 59.76 14.94 199.20 273.90 722.10 987 996 H 2,200 33.00 550.00 90.00 673.00 1,527.00 988 2,200 I 48 720 216 936 56.16 14.04 187.20 10.00 267.40 668.60 989 936 5,268 672 9,240 422.40 138.60 1,985.04 185.00 2,731.04 6,508.96 5,940 3,300 2. Sales Salaries Expense .................................................. 5,940.00 Office Salaries Expense .................................................. 3,300.00 Social Security Tax Payable ..................................... 422.40 Medicare Tax Payable ................................................ 138.60 Employees Federal Income Tax Payable ................ 1,985.04 Bond Deductions Payable ........................................ 185.00 Salaries Payable ......................................................... 6,508.96
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Prob. 11–6A 1.
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