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For the Corporation I have created I need to prepare the Corporation needs a Payroll Register and Payroll Tax Register for the three employees for the week ended August 31, 2024. August 2024 has 22 working days. As well as the total coronation payroll expense for the month ended August 31, 2024.
-I also attached an image of the outline of the payroll register and payroll tax register for my corporation.
-the income tax is seperated into the state and federal please do them separately
and compute the total payroll expense and total gross Pay for the month ended august 31, 2024 and fill in box at bottom of image.
The Corporation employs three employees, and pays time-and-a-half for overtime and monthly paychecks are distributed on the Friday following the last day of the month.
The Corporation withholds federal income tax at 18%, state income tax at 7%, FICA-OASDI at 6.2% for wages up to $118,500, and FICA-Medicare at 1.45%.
The Corporation also pays payroll taxes for FICA-OASDI at 6.2% for wages up to $118,500, FICA--Medicare at 1.45%, and state and federal
The payroll data employees for the month ended August 31:
Name |
Straight Time Rate |
Hours Worked |
Beginning Cumulative Earnings |
Tommy S |
$30 |
175 |
$52,000 |
Lee Y |
34 |
196 |
$23,000 |
Sarah H |
26 |
190 |
$3,060 |
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- : CengageNOWv2 | Online teachin x C Accounting question | Chegg.com x + A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false M Gmail O YouTube Maps Blackboard HW #10 - Chpt 22 1 eBook еВook E Print Item Professional Fees Earned Budget for a Service Company Rollins and Cohen, CPAS, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the month ending January 31, 20Y7: Billable Hours Audit Department: Staff 27,900 Partners 4,200 Tax Department: Staff 20,400 Partners 2,600 Small Business Accounting Department: > Staff 3,300 Partners 500 The average billing rate for staff is $115 per hour, and the average billing rate for partners is $235 per hour. Prepare a professional fees earned budget for Rollins and Cohen, CPAS, for the month ending January 31, 20Y7. ROLLINS AND COHEN, CPAS Professional Fees…omework E X ezto.mheducation.com/ext/map/index.html?_con%3Dcon&external_browser%3D0&launchUrl=https%253A%252F%252Ffayted User Management,.. https://outlook.off.. FES Protection Plan lomework Exercises Saved Select whether each of the following acCcounts normally has a debit balance or a credit balance: 1. Cash Debit 2. Blaine Brownell, Capital Credit 9:36 3. Fees income Credit 4. Accounts payable Credit 5 Supplies Debit 6. Equipment Debit 7. Accounts receivable Debit 8 Salaries expense Debit AddressO Mail - Edjouline X E Content - ACG2 X * CengageNOW. X O (58) YouTube * from Towards a X m/ilm/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inpro. Q < ☆ STIOW Me TOW Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $410,000; Allowance for Doubtful Accounts has a credit balance of $3,500; and sales for the year total $1,850,000. Bad debt expense is estimated at 3/4 of 1% of sales. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Adjusted Balance Debit (Credit) Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable. Check My Work Previous Next V O 11:51
- X SAM.gov | Home First Financial Bank Question 1- Week 5: X devry: Cost Managem X -Portal X M Inbox (17) - princessp: X X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com... A to Homework i Saved Help Save & Exit Check The following information is available for Brownstone Products Company for the month of July: Master Actual Budget Units 3,500 4,000 Sales revenue $ 54,300 $ 60,000 Variable manufacturing costs 10,000 16,000 Fixed manufacturing costs 13,000 14,000 Variable selling and administrative expenses 6,500 8,000 Fixed selling and administrative expenses 8,000 9,100 Required: 1. What was the master budget variance for July? Was this variance favorable or unfavorable? es 2. Compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin and in terms of operating income. 4. Prepare pro-forma budgets for activities within its relevant range of…O taxqueenz - Login Content O Question 4 - Wk 2 - Apply: Appli x mheducation.com/ext/map/index.html?_con=con&external_browser=08&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%252Fmh.. ply: Application Assignment [due Day 7 A Saved Help Save & Exit Submit Lisa, age 46, needed some cash so she withdrew $56,500 from her Roth IRA, At the time of the distribution, the balance in the Roth IRA was $200,000. Lisa established the Roth IRA 10 years ago. Over the years, she has contributed $21,300 to her account. What amount of the distribution is taxable and subject to early distribution penalty? Multiple Choice $5,650. $35,200. O # e 9 to search 9:58 PM (? 3/1/2021 13 O 14 O 1S 17 C 18 C 19 D f10 D f11 home end [7 8 3 8 R T. 4 5Cengage CengageNOWv2 | Online teachin X Cengage Digital Learning X X X m/ilrn/takeAssignment/takeAssignment Ma in . do? invoker- assignments&ta keAssignment Session Locator=assignment-take&inprogress-false & ApI еВook Calculator Print Item Wage and Tax Statement Data on Employer FICA Tax Ehrlich Co. began business on January 2, 20Y8. Salaries were paid to employees on the last day of each month, and social security tax, Medicare tax, and federal income tax were withheld in the required amounts. An employee who is hired in the middle of the month receives half the monthly salary for that month. All required payroll tax reports were filed, and the correct amount of payroll taxes was remitted by the company for the calendar year. Early in 20Y9, before the Wage and Tax Statements (Form W-2) could be prepared for distribution to employees and for filing with the Social Security Administration, the employees' earnings records were inadvertently destroyed. None of the employees resigned or…
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