Alpha Geek

(8)

$10/per page/Negotiable

About Alpha Geek

Levels Tought:
University

Expertise:
Accounting,Algebra See all
Accounting,Algebra,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Communications,Computer Science,Environmental science,Essay writing,Programming,Social Science,Statistics Hide all
Teaching Since: Apr 2017
Last Sign in: 442 Weeks Ago
Questions Answered: 9562
Tutorials Posted: 9559

Education

  • bachelor in business administration
    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

  • CPA
    Polytechnic State University
    Jan-2012 - Nov-2016

Experience

  • Professor
    Harvard Square Academy (HS2)
    Mar-2012 - Present

Category > Accounting Posted 06 May 2017 My Price 6.00

Quality Roofing withheld the following taxes from its employees

 

For the week ended May 31, Quality Roofing withheld the following taxes from its employees:

Federal income taxes withheld                   $12,000

FICA taxes withheld                                         2,702

Prepare the journal entry to record the tax deposit to People’s Bank. Include the employees’ and the employer’s share (computed in Practice Exercise 1) of FICA taxes.

Practice Exercise 1

Quality Roofing has the following payroll information for the week ended May 31:

Total payroll                                                                                       $56,000

Taxable earnings subject to Social Security                            45,000

Taxable earnings subject to unemployment tax                  2,000

Using the preceding tax rates, prepare the journal entry to record the employer’s payroll tax liability.

 

 
 

Answers

Alpha Geek
(8)
Status NEW Posted 06 May 2017 10:05 AM My Price 6.00

-----------

Attachments

file 1494066630-Answer.docx preview (145 words )
F-----------or -----------the----------- we-----------ek -----------end-----------ed -----------May----------- 31-----------, Q-----------ual-----------ity----------- Ro-----------ofi-----------ng -----------wit-----------hhe-----------ld -----------the----------- fo-----------llo-----------win-----------g t-----------axe-----------s f-----------rom----------- it-----------s e-----------mpl-----------oye-----------es:----------- F-----------ede-----------ral----------- in-----------com-----------e t-----------axe-----------s w-----------ith-----------hel-----------d Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- $1-----------2,0-----------00 ----------- FI-----------CA -----------tax-----------es -----------wit-----------hhe-----------ld ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- 2,-----------702----------- P-----------rep-----------are----------- th-----------e j-----------our-----------nal----------- en-----------try----------- to----------- re-----------cor-----------d t-----------he -----------tax----------- de-----------pos-----------it -----------to -----------Peo-----------ple-----------’-----------s B-----------ank-----------. I-----------ncl-----------ude----------- th-----------e e-----------mpl-----------oye-----------esâ-----------€™ -----------and----------- th-----------e e-----------mpl-----------oye-----------râ€-----------™s -----------sha-----------re -----------(co-----------mpu-----------ted----------- in----------- Pr-----------act-----------ice----------- Ex-----------erc-----------ise----------- 1)-----------
Not Rated(0)