Question :
108.Use this information to answer the following question.
The following totals : 1244455
108.Use this information to answer the following question.
The following totals for the month of November were taken from the payroll register of Levine Company:
Salaries expense
$12,000
Social security and Medicare taxes withheld
550
Income taxes withheld
2,500
Medical insurance deductions
250
Life insurance deductions
200
Salaries subject to federal and state unemployment taxes of 6.2 percent
4,000
The entry to record the monthly payroll on November 30 would include a
a.
credit to Salaries Payable for $12,000.
b.
debit to Salaries Expense for $8,500.
c.
debit to Salaries Expense for $12,000.
d.
debit to Salaries Payable for $12,000.
109.Use this information to answer the following question.
The following totals for the month of November were taken from the payroll register of Levine Company:
Salaries expense
$12,000
Social security and Medicare taxes withheld
550
Income taxes withheld
2,500
Medical insurance deductions
250
Life insurance deductions
200
Salaries subject to federal and state unemployment taxes of 6.2 percent
4,000
The entry to record the payment of net payroll would include a
a.
debit to Salaries Payable for $12,000.
b.
debit to Salaries Payable for $8,500.
c.
debit to Salaries Payable for $7,950.
d.
credit to Cash for $9,050.
110.Use this information to answer the following question.
The following totals for the month of November were taken from the payroll register of Levine Company:
Salaries expense
$12,000
Social security and Medicare taxes withheld
550
Income taxes withheld
2,500
Medical insurance deductions
250
Life insurance deductions
200
Salaries subject to federal and state unemployment taxes of 6.2 percent
4,000
The entry to record the accrual of employer’s payroll taxes would include a debit to Payroll Taxes and Benefits Expense for
a.
$1,248.
b.
$550.
c.
$248.
d.
$798.
111.Use this information to answer the following question.
The following totals for the month of November were taken from the payroll register of Levine Company:
Salaries expense
$12,000
Social security and Medicare taxes withheld
550
Income taxes withheld
2,500
Medical insurance deductions
250
Life insurance deductions
200
Salaries subject to federal and state unemployment taxes of 6.2 percent
4,000
The amount of liabilities relating to payroll, other than Salaries Payable, is
a.
$4,178.
b.
$4,298.
c.
$3,748.
d.
$3,628.
112.Use this information to answer the following question.
The following totals for the month of November were taken from the payroll register of Levine Company:
Salaries expense
$12,000
Social security and Medicare taxes withheld
550
Income taxes withheld
2,500
Medical insurance deductions
250
Life insurance deductions
200
Salaries subject to federal and state unemployment taxes of 6.2 percent
4,000
The entry to record the accrual of federal unemployment tax (assume FUTA tax of 0.8 percent) would include a
a.
debit to FUTA Tax Expense for $32.
b.
debit to Federal Unemployment Tax Payable for $32.
c.
credit to Payroll Taxes and Benefits Expense for $32.
d.
credit to Federal Unemployment Tax Payable for $32.
113.Use this information to answer the following question.
Baker Company has the following information for the pay period of January 1-15, 20×7. Payment occurs on January 20.
Gross payroll
$16,000
Federal income taxes withheld
$1,800
Social security and Medicare tax rate
7.65%
Federal unemployment tax rate
0.8%
State unemployment tax rate
5.4%
Salaries Payable would be recorded for
a.
$14,200.
b.
$10,760.
c.
$12,976.
d.
$11,984.
114.Use this information to answer the following question.
Baker Company has the following information for the pay period of January 1-15, 20×7. Payment occurs on January 20.
Gross payroll
$16,000
Federal income taxes withheld
$1,800
Social security and Medicare tax rate
7.65%
Federal unemployment tax rate
0.8%
State unemployment tax rate
5.4%
Payroll Taxes and Benefits Expense would be recorded for
a.
$1,224.
b.
$4,016.
c.
$2,216.
d.
$992.
115.Use this information to answer the following question.
Baker Company has the following information for the pay period of January 1-15, 20×7. Payment occurs on January 20.
Gross payroll
$16,000
Federal income taxes withheld
$1,800
Social security and Medicare tax rate
7.65%
Federal unemployment tax rate
0.8%
State unemployment tax rate
5.4%
The entry to record the payroll would include a
a.
debit to Salaries Expense for the amount paid to the employees.
b.
debit to Salaries Payable for the net amount.
c.
debit to Salaries Expense for the gross payroll.
d.
credit to State Unemployment Tax Payable.
116.Use this information to answer the following question.
Baker Company has the following information for the pay period of January 1-15, 20×7. Payment occurs on January 20.
Gross payroll
$16,000
Federal income taxes withheld
$1,800
Social security and Medicare tax rate
7.65%
Federal unemployment tax rate
0.8%
State unemployment tax rate
5.4%
The entry to record the payroll taxes expense would include a credit to
a.
Cash.
b.
Federal Income Taxes Payable.
c.
Social Security Tax Payable.
d.
Salaries Payable.
117.Use this information to answer the following question.
Baker Company has the following information for the pay period of January 1-15, 20×7. Payment occurs on January 20.
Gross payroll
$16,000
Federal income taxes withheld
$1,800
Social security and Medicare tax rate
7.65%
Federal unemployment tax rate
0.8%
State unemployment tax rate
5.4%
The entry on January 20 would be a debit to
a.
Salaries Expense and a credit to Salaries Payable.
b.
Salaries Payable and a credit to Cash.
c.
Salaries Expense and a credit to Cash.
d.
Salaries Payable and a credit to Salaries Expense.
