Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. Complete the payroll register on the next page using the data below. (34 points) Complete the following payroll register for employees of Gray Company

image text in transcribed
image text in transcribed
3. Complete the payroll register on the next page using the data below. (34 points) Complete the following payroll register for employees of Gray Company for the week ended March 15. Taxable earnings should be computed on the basis of a 40-hour workweek with overtime earnings being paid at time and one-half for all hours over 40 each workweek (no overtime paid for salaried employees). All employees have a 2020 W-4 on file. Note: Carry each overtime-hourly rate out to 3 decimal places and then round off to 2 decimal places. All employees' wages are subject to the OASDI tax of 6.24 and HI tax of 1.45%. Use the 2020 wage-bracket Itables with forme w-4 from 2020 in your text to determine the amount of federal income tax to be withheld. For salaried employees, use the percentage method. All workers are employed in a state that imposes a 2% income tax on the gross wages earned by each worker. TIME RECORD REGULAR EARNINGS OVERTIME EARNINGS DEDUCTIONS HAM IT TPHCG | 2 OP ATE OHH- * dao=42 O La wo Zoza HD 2 ->Jom ZUM ODZE ODZE 02-20 on X a> S2 8 898 Joyce F5 8 10 10 9 85 4 40 Sal 1,600.00 Dec FO 00 8 B 0 2.00 Fred S2 10 8 8 9 1 7.50 Show Calculations on Next Page

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Payroll Accounting 2021

Authors: Bernard J. Bieg, Judith A. Toland

31st Edition

0357358287, 9780357358283

More Books

Students also viewed these Accounting questions