Maurice Tutor

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About Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 26 Jul 2017 My Price 6.00

Mr. Scott Corporation

Preparation of Journal entries for payroll accounting.

 

Gross pay for the employees of Mr. Scott Corporation for February 28, 2008 is as follows: 

Sales Salaries

$338,000

Office Salaries

148,000

Maintenance Salaries

95,000

Total Salaries

$581,000

 

Information on withholding and payroll taxes are shown below:

1.

Federal Income tax withheld

$72,625

2.

Stale income tax withheld

17,100

3.

Health insurance withheld

8,200

4.

Pension contributions withheld

25,125

5.

FICA rate is 7.7%

  

6.

SUTA tax is $98,000 and FUTA taxes are $2,215

  

 

Required:

(A.) Make the journal entry to record the February payroll
(B.) Record the journal entry for the employer\'s payroll taxes 
(C.) Make the journal entry to record the employer\'s monthly payment of payroll tax liabilities

Answers

Maurice Tutor
(5)
Status NEW Posted 26 Jul 2017 02:07 PM My Price 6.00

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