TAILIEUCHUNG - Lecture Accounting (6th edition): Chapter App I - Kimmel, Weygandt, Kieso

Chapter App I - Payroll accounting. In this chapter students will be able to: Record the payroll for a pay period, record employer payroll taxes, discuss the objectives of internal control for payroll. | Payroll Accounting Kimmel ● Weygandt ● Kieso Accounting, Sixth Edition I Record employer payroll taxes. APPENDIX OUTLINE Record the payroll for a pay period. 1 2 LEARNING OBJECTIVES Discuss the objectives of internal control for payroll. 3 “Payroll” pertains to both: Salaries - managerial, administrative, and sales personnel (monthly or yearly rate). Wages - store clerks, factory employees, and manual laborers (rate per hour). Involves computing three amounts: (1) gross earnings, (2) payroll deductions, and (3) net pay. DETERMINING THE PAYROLL LO 1 LEARNING OBJECTIVE Record the payroll for a pay period. 1 Total compensation earned by an employee (wages or salaries, plus any bonuses and commissions). Gross Earnings DETERMINING THE PAYROLL LO 1 ILLUSTRATION I-1 Computation of total wages Mandatory: FICA tax Federal income tax State income tax Payroll Deductions Voluntary: Charity Insurance Union dues Pension plans DETERMINING THE PAYROLL LO 1 Mandatory: FICA tax Federal income tax State income tax Social Security and Medicare tax Supplemental retirement, employment disability, and medical benefits. DETERMINING THE PAYROLL Payroll Deductions LO 1 ILLUSTRATION I-3 FICA tax rate and tax base Employers are required to withhold income taxes from employees’ pay. Withholding amounts are based on gross wages and the number of allowances claimed. DETERMINING THE PAYROLL Mandatory: FICA tax Federal income tax State income tax Payroll Deductions LO 1 Most states (and some cities) require employers to withhold income taxes from employees’ earnings. DETERMINING THE PAYROLL Mandatory: FICA tax Federal income tax State income tax Payroll Deductions LO 1 Gross earnings minus payroll deductions. Net Pay DETERMINING THE PAYROLL LO 1 ILLUSTRATION I-6 Computation of net pay LO 1 ILLUSTRATION I-7 Employee earnings record RECORDING THE PAYROLL LO 1 ILLUSTRATION I-8 Payroll register RECORDING THE PAYROLL Illustration: Prepare the entry Academy Company would make to record the payroll for .

• Kế toán - Kiểm toán
• Lecture Accounting
• Financial statements
• Business organization
• Accounting information
• Payroll accounting
• Financial accounting
• Lecture Financial accounting
• Management accounting
• Accounting standards
• Accounting equation
• Intermediate accounting
• Lecture Intermediate accounting
• Accounting process
• Accounting processing cycle
• Managerial accounting
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Merchandising operations
• Lecture Accounting 1
• Accounting for main transactions
• Accounting for purchases
• Accounting for sales
• Accounting for expenses
• Principle of accounting
• Lecture Principle of accounting
• The basic accounting equation
• Transaction analysis in accounting equation
• Calculate the accounting equation
• Lecture Advanced financial accounting
• Bài giảng Kế toán tài chính nâng cao
• Advanced financial accounting
• Accounting policies
• Accounting estimate
• Retrospective application
• Changes in accounting estimates
• Retrospective restatements
• Accounting assumptions
• Lecture Management accounting
• Bài giảng Kế toán quản trị
• Nature of management accounting
• Component of accounting system
• Financial system
• Lecture Accounting and financial system
• Ledger accounting
• Trial balance
• Completing the accounting cycle
• Accounting cycle
• Accounting worksheet
• Classified balance sheet
• Accounting changes
• Error corrections
• Accounting choices
• Accounting for business
• Lecture Accounting for business
• Accounting entity
• Classification of assets
• Accounting equation transactions