Questions from College Accounting

Q: Earnings for several employees for the week ended March 12, 20

Earnings for several employees for the week ended March 12, 20--, are as follows: Calculate the employer’s payroll taxes expense and prepare the journal entry as of March 12, 20--, a...

Q: Selected information from the payroll register of Joanie’s Boutique for the week

Selected information from the payroll register of Joanie’s Boutique for the week ended September 14, 20--, is as follows. Social Security tax is 6.2% on the first $118,500 of earning...

Q: What steps are followed in posting sales returns and allowances from the

What steps are followed in posting sales returns and allowances from the general journal to the general ledger and accounts receivable ledger?

Q: Mandy Feng employs Jay Johnson at a salary of $35,

Mandy Feng employs Jay Johnson at a salary of $35,000 a year. Feng is subject to employer Social Security taxes at a rate of 6.2% and Medicare taxes at a rate of 1.45% on Johnson’s salary. In addition...

Q: Angel Ruiz owns a business called Ruiz Construction Co. He does

Angel Ruiz owns a business called Ruiz Construction Co. He does his banking at Citizens National Bank in Portland, Oregon. The amounts in his general ledger for payroll taxes and the employees’ withho...

Q: Specialty Manufacturing estimated that its total payroll for the coming year would

Specialty Manufacturing estimated that its total payroll for the coming year would be $450,000. The workers’ compensation insurance premium rate is 0.2%. REQUIRED 1. Calculate the estimated workers’...

Q: Selected information from the payroll register of Ebeling’s Dairy for the week

Selected information from the payroll register of Ebeling’s Dairy for the week ended July 7, 20--, is shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both on t...

Q: Cascade Company has four employees. All are paid on a monthly

Cascade Company has four employees. All are paid on a monthly basis. The fiscal year of the business is June 1 to May 31. The accounts kept by Cascade include the following: REQUIRED 1. Journalize the...

Q: Willamette Manufacturing estimated that its total payroll for the coming year would

Willamette Manufacturing estimated that its total payroll for the coming year would be $650,000. The workers’ compensation insurance premium rate is 0.3%. REQUIRED 1. Calculate the estimated workers’...

Q: For each document or procedure listed below, indicate whether it would

For each document or procedure listed below, indicate whether it would be used for a retail business or a wholesale business, as described in the chapter.