Student Name:
Class:
Earnings for period: $3,500.00
TAX BASE RATE AMOUNT
3,500.00$ 6.20% 217.00$
3,500.00 1.45% 50.75
3,500.00 0.80% 28.00
3,500.00 5.40% 189.00
Total 484.75$
Correct!
Post
Description Ref Debit Credit
2013
July 14 484.75
217.00
50.75
28.00
189.00
Correct!
McGraw-Hill
Instructor
Social Security
Employer’s Payroll Taxes
Period Ending July 14, 2013
TOTAL GARDEN CARE
Record employer’s payroll taxes
State Unemployment Tax Payable
Federal Unemployment Tax Payable
Medicare Tax Payable
Problem 11.01A
Medicare
TOTAL GARDEN CARE
GENERAL JOURNAL
SUTA
FUTA
Social Security Tax Payable
Payroll Taxes Expense
Date
Payroll period ending July 14, 2013
Taxable earnings 3,500$
Social Security tax rate 6.20%
Medicare tax rate 1.45%
FUTA tax rate 0.80%
SUTA tax rate 5.40%
Given Data P11.01A:
Student Name:
Class:
ESTIMATED INSURANCE ESTIMATED
WORK CLASSIFICATION EARNINGS RATE/$100 PREMIUMS
54,000.00$ 0.40$ 216.00$
298,000.00 5.00$ 14,900.00
Total 15,116.00$
Correct!
ACTUAL INSURANCE ACTUAL
WORK CLASSIFICATION EARNINGS RATE/$100 PREMIUMS
59,960.00$ 0.40$ 239.84$
305,320.00 5.00$ 15,266.00
Total 15,505.84$
Estimated premiums paid 15,116.00
Additional premium due 389.84$
Correct!
Post
Description Ref Debit Credit
2013
Jan. 15 15,116.00
15,116.00
Dec. 31 389.84
389.84
Dec. 31 15,116.00
Adjust workers’ compensation insurance expense
Workers’ Compensation Insurance Expense
Prepaid Workers’ Compensation Insurance
17,600$
Workers’ compensation Insurance Payable
Workers’ Compensation Insurance Expense
Pay estimated workers’ compensation for the year
GENERAL JOURNAL
Date
PONTE MANUFACTURING COMPANY
Workers’ Compensation Insurance Premiums
Office work
Shop work
Cash
Prepaid Workers’ Compensation Insurance
Shop work
Adjust prepaid workers’ compensation insurance
Analyze: The premium estimated would have been
Instructor
McGraw-Hill
For the Year Ending December 31, 2013
PONTE MANUFACTURING COMPANY
Office work
Problem 11.06A
Amount of Insurance
Estimated Rates
Actual Wages
Wages per $100 Paid
Office work 54,000$ 0.40$ 59,960$
Shop work 298,000 5.00 305,320
Given Data P11.06A:
Classification
Work
Workers’ Compensation Insurance Data
PONTE MANUFACTURING COMPANY