Payroll Accounting: Deductions

Related BrainMass Solutions

• Payroll Deduction Accounting

  212765 Explain the responsibilities of and the accounting by employers for employee payroll deductions. Explain the responsibilities of and the accounting by employers for employee payroll deductions.

• Journal entry and accrual basis accounting

  On Dec 31, 2010, calculated the payroll, which indicates gross earnings for wages ($82,000), payroll deductions for income tax ($8,000), payroll deductions for FICA( $6,000), payroll deductions for American Cancer Society ($2000), employer contributions

• What is your payroll cycle at work? Besides your salary, what other liabilities can you identify that might appear on your company's balance sheet related to compensation? Hint: look at your pay stub.

  Pay Roll cycle at work: Important terms in payroll accounting: 1 Payroll: is the major item of expenditure in any business concern. Payroll compensation includes fixed salary or wages and overtime remuneration.

• What is the purpose of a payroll register?

  In doing so, the register would provide accounting codes for a labor distribution in the accounting records. 3. Next it discloses the deductions from gross payroll to arrive at net payroll.

• Errors That Could Occur from Control Weaknesses

  Are authorizations for deductions, signed by the employees, on file? No Fraud can occour: There can be fictitious deductions. False deductions can cause the overpayment of wages. Existence or occurrence: 8.

• Accounting Employee Payroll: The following information is for employee Mary Ryan for the week ended March 15. (a)Determine (1) total earnings, (2) total deductions, and (3) cash paid.

  126203 Accounting Employee Payroll The following information is for employee Mary Ryan for the week ended March 15.

• Risks inherent in the payroll cycle, and how can these risks

  Risk 3: Payroll deductions will be incorrect.

• Payroll Accounting: Ryan Company

  652086 Payroll Accounting: Ryan Company Ryan Company paid salaries for the month of June 2020, amounting to $120,000.

• Software applications and information systems

  It includes accounting functions such as accounts payable, payroll, accounts receivable and trial balance.