Business, 23.06.2021 15:30 AM28

Widmer Company had gross wages of $194,000 during the week ended June 17. The amount of wages subject to social security tax was $174,600, while the amount of wages subject to federal and state unemployment taxes was $24,000. Tax rates are as follows: Social security 6.0%
Medicare 1.5%
State unemployment 5.4%
Federal unemployment 0.8%

The total amount withheld from employee wages for federal taxes was $38,800. If an amount box does not require an entry, leave it blank. If required, round answers to two decimal places.

Required:
a. Journalize the entry to record the payroll for the week of June 17.
b. Journalize the entry to record the payroll tax expense incurred for the week of June 17.

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Answer from: tristantisdale1

a. See the journal entries below.

b. See the journal entries below.

Explanation:

a. Journalize the entry to record the payroll for the week of June 17.

The journal entries will look as follows:

Date Accounts Debit ($) Credit ($)

June 17 Wages Expense 194,000

Social sec. tax payable ($194,000 * 6%) 11,640

Medicare tax payable ($194,000 * 1.5%) 2,910

Employees Federal income tax payable 38,800

Wages Payable (Balancing figure) 140,650

(To record payroll for the week)

b. Journalize the entry to record the payroll tax expense incurred for the week of June 17.

The journal entries will look as follows:

Date Accounts Debit ($) Credit ($)

June 17 Payroll Tax Expense 16,038

Social sec. tax payable ($194,000 * 6%) 11,640

Medicare tax payable ($194,000 * 1.5%) 2,910

State unemp. taxes paybl. ($24,000 * 5.4%) 1,296

Fed. unemp. taxes paybl. ($24,000 * 0.8%) 192

(To record payroll taxes for the week)

Answer from: Quest

$527.7.if the following was the question $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?

Answer from: Quest

answerdemographic;

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Widmer Company had gross wages of $194,000 during the week ended June 17. The amount of wages subjec...

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