CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 13-4 Paying Withholding and Payroll Taxes.

Slides:

Advertisements

Similar presentations

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 13-1 Recording A Payroll.

Advertisements

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-1 Completing Payroll Records for Employee Earnings and Deductions.

Chapter 14 – Payroll Accounting, Taxes, & Reports

LESSON 13-4 Paying Payroll Taxes and Unemployment Taxes.

Payroll Accounting, Taxes, and Reports

Payroll Accounting, Taxes, and Reports

LESSON 13-1 Recording A Payroll

LESSON 13-2 RECORDING EMPLOYER PAYROLL TAXES. Employee vs. Employer Taxes Employee Taxes ◦Federal Income Tax ◦Social Security Tax ◦Medicare Tax Employer.

LESSON 13-4 PAYING WITHHOLDING AND PAYROLL TAXES.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 14-1 Recording A Payroll.

LESSON 13-1 Recording A Payroll

LESSON 13-1 Payroll Accounting, Taxes, and Reports

Preparing Payroll Records

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-1 Completing Payroll Records for Employee Earnings and Deductions.

Payroll Liabilities and Tax Records

CENTURY 21 ACCOUNTING © Thomson/South-Western 1 LESSON 13-1 CHAPTER 13 OBJECTIVES PAYROLL ACCOUNTING, TAXES, AND REPORTS DEFINE ACCOUNTING TERMS RELATED.

Lesson 14-1 PAYROLL REGISTER Lesson 14-1, page 332.

Payroll Accounting, Taxes, and Reports

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 13-4 Paying Withholding and Payroll Taxes Original created by M.C. McLaughlin, Thomson/South-Western.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 13-4 Paying Withholding and Payroll Taxes.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 13-4 Paying Withholding and Payroll Taxes  Paying the liability for employee taxes.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 13-2 Recording Employer Payroll Taxes Original created by M.C. McLaughlin, Thomson/South-Western Modified.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 13-2 Recording Employer Payroll Taxes.

Section 3Tax Liability Payments and Tax Reports What You’ll Learn  How to pay payroll tax liabilities.  Which tax reports are prepared and filed. What.

Chapter 14 Payroll Accounting, Taxes, and Reports.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5-4 Petty Cash.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 13-4 Paying Withholding and Payroll Taxes.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 13-2 Recording Employer Payroll Taxes  Calculating employer payroll taxes  Unemployment.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 13-3 Reporting Withholding And Payroll Taxes  Employer annual report to employees.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 9-3 Accrued Expenses Accrued interest expense. Recording payment of note at maturity.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-2 Recording a Payroll and Payroll Taxes.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 13-4 Paying Withholding and Payroll Taxes.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 12-3 Preparing Payroll Records.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 4-3 Posting Column Totals from a Journal to a General Ledger.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-2 Recording a Payroll and Payroll Taxes.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 13-4 Paying Withholding and Payroll Taxes.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 3-2 Recording a Payroll and Payroll Taxes Modified by D. Burns West Johnston High School.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 13-1 Recording A Payroll.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 14-1 Distributing Corporate Earnings to Stockholders.

© 2014 Cengage Learning. All Rights Reserved. Learning Objectives © 2014 Cengage Learning. All Rights Reserved. LO1 Analyze a payroll transaction. LO2.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Accounting April 23, 2015 Chapter 13-3 & 13-4 notes 13-3 & 13-4 WT & OYO 13-3 & 13-4 Application.

Accounting April 21, 2015 Critical Thinking Notes for 13.1 and 13.2

© South-Western Educational Publishing FORM 8109, FEDERAL DEPOSIT COUPON Lesson 14-4, page 355.

Learning Objectives © 2015 Cengage Learning. All Rights Reserved. LO4Journalize the payment of a payroll. LO5Journalize the payment of payroll taxes. LESSON3-2.

© 2014 Cengage Learning. All Rights Reserved. Paying Withholding and Payroll Taxes Chapter 13 Lessons 13-4.

© South-Western Educational Publishing PAYROLL REGISTER Lesson 14-1, page 340.

Chapter 3 Departmental Payroll. After the payroll register has been prepared, a check is written to transfer the total net pay amount from the regular.

LESSON 13-1 Recording A Payroll

LESSON 13-1 Recording A Payroll

© 2014 Cengage Learning. All Rights Reserved.

© 2014 Cengage Learning. All Rights Reserved.

© 2014 Cengage Learning. All Rights Reserved.

© 2014 Cengage Learning. All Rights Reserved.

© 2014 Cengage Learning. All Rights Reserved.

FORM 8109, FEDERAL DEPOSIT COUPON

JOURNALIZING PAYMENT OF A PAYROLL

Lesson 14-1 PAYROLL REGISTER Lesson 14-1, page 332.

© 2014 Cengage Learning. All Rights Reserved.

LESSON 3-2 Recording a Payroll and Payroll Taxes

Payroll Accounting, Taxes and Reports

Payroll Accounting, Taxes, and Reports

LESSON 3-2 Recording a Payroll and Payroll Taxes

Paying Withholding and Payroll Taxes

Recording Employer Payroll Taxes

Paying Withholding and Payroll Taxes

LESSON 3-2 Recording a Payroll and Payroll Taxes

Presentation transcript:

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 13-4 Paying Withholding and Payroll Taxes

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 2 LESSON 13-4 PAYING THE LIABILITY FOR EMPLOYEE INCOME TAX, SOCIAL SECURITY TAX, AND MEDICARE TAX page 383

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 3 LESSON 13-4 FORM 8109, FEDERAL DEPOSIT COUPON page 384

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Pg 385 – T accounts All Liability acc’ts – so they have a CREDIT balance Paying these amt’s to the gov. Therefore they will be debited for their balance amount’s and return to zero for the next quarter Cash will be credited for the full amount of taxes owed to gov. – this is the money that has been withheld from employee checks 4 LESSON 13-4

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 5 LESSON 13-4 JOURNALIZING PAYMENT OF LIABILITY FOR EMPLOYEE INCOME TAX, SOCIAL SECURITY TAX, AND MEDICARE TAX page 385 January 15. Paid cash for liability for employee income tax, $757.00; social security tax, $1,451.38; and Medicare tax, $339.42; total, $2, Check No Write the date. 2.Write the titles of the three accounts debited. 3.Write the check number. 4.Write the debit amounts. 5.Write the amount of the credit.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 6 LESSON 13-4 PAYING THE LIABILITY FOR FEDERAL UNEMPLOYMENT TAX page 386

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 7 LESSON 13-4 JOURNALIZING PAYMENT OF LIABILITY FOR FEDERAL UNEMPLOYMENT TAX page 387 January 31. Paid cash for federal unemployment tax liability for quarter ended December 31, $ Check No Write the date. 5. Write the amount of the credit to Cash. 4. Write the debit amount. 3. Write the check number. 2. Write the title of the account debited.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 8 LESSON 13-4 JOURNALIZING PAYMENT OF LIABILITY FOR STATE UNEMPLOYMENT TAX page 387 January 31. Paid cash for state unemployment tax liability for quarter ended December 31, $ Check No Date 5. Credit amount 4. Debit amount 3. Check number 2. Account debited 12345

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 9 LESSON 13-4 TERMS REVIEW lookback period page 389