Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. parry paint llc started operations on january 1, 2

Parry Paint LLC started operations on January 1, 2019. It had the following payroll transactions...

90.2K

Verified Solution

Question

Accounting

image

Parry Paint LLC started operations on January 1, 2019. It had the following payroll transactions during the year. Jan 15 - Paid an employee B. Vaughn gross pay of $1,560 for January 1-15 salary, calculated as follows: Gross Pay Income taxes 15% Deductions FICA Medicare 1.45% FICA Social Security 6.2% Total deductions Net Pay $2,000 The company matches FICA deductions. Required: a Calculate B. Vaughn's net pay and journalize the entries to record her payroll. b. Prepare journal entries to record the above transactions. Show necessary calculations

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Advance Math
1.2K views

Does every hyperbolic triangle have an inscribed circle? Circumscribed circle?

Biology
1.2K views

3.1 Discuss the similarities and differences between MHC's and HLA's. Describe the roles of the three...

Biology
1.2K views

Data Tables and Post-Lab Assessment Lab Questions 1.     Transcribe the following DNA sequence: Hb A: 5’ AGT AAC GGC AGA...

Physics
1.2K views

1. A commercial airliner is flying at 450 mph, 20° east of north, relative to the...

Psychology
1.2K views

Where in the Two Treatises of Government does Locke explain human nature?

General Management
1.2K views

Case Study -ZaraManufacturing doesn’t get much older than the textile and clothing industry. Since the earliest...

Biology
1.2K views

The use of an antibiotic-resistance gene on a plasmid used in genetic engineering makesa. replica...

Physics
1.2K views

At a smooth horizontal table are two identical cubes of mass m connected by a...

Physics
1.2K views

The time period of a body undergoing simple harmonic motion is given by T p...

Geometry
1.2K views

ABCD is a kite so AC 1DB and DE EB Calculate the length of AC...

Accounting
1.2K views

B2B Co. is considering the purchase of equipment that would allow the company to add...

Accounting
1.2K views

Typical contractual situations that are disclosed in the notes to the balance sheet include all...