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Chapter 11: 9RQ (page 604)

How might a business use a payroll register?

Short Answer

Expert verified

The payroll register is used as an original book for recording payroll transactions.

Step by step solution

01

Payroll Register

The payroll register is the summary of all earnings, withholdings, and net for each employee. This register lists all the employees with their gross pay, list of all withholdings, net pay, and check number.

02

Use of payroll register

The payroll register acts as an original book of entry for recording the payroll journal entry. The journal entry is made by debiting the gross pay and crediting all withholdings and net pay payable. This register is also used by the company for taking several payroll-related decisions.

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Most popular questions from this chapter

Accounting for warranty expense and warranty payable

The accounting records of Sculpted Ceramics included the following at January 1, 2018:

Estimated Warranty Payable

5,000 Beg. Bal

In the past, Sculpted’s warranty expense has been 9% of sales. During 2018, Sculpted made sales of \(113,000 and paid \)7,000 to satisfy warranty claims. Requirements

  1. Journalize Sculpted’s warranty expense and warranty payments during 2018. Explanations are not required.
  2. What balance of Estimated Warranty Payable will Sculpted report on its balance sheet at December 31, 2018?

When do businesses record warranty expenses, and why?

List the required employee payroll withholding deductions, and provide the tax rate for each.

What is contingent liability? Provide some examples of contingencies.

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